ImpulseVen staking is now live!

March was an incredible month for ImpulseVen, with our public sale on DuckDAO and YfDAI running incredibly smoothly. We are very thankful for the amazing community support and welcome you all aboard our decentralized journey. We’ve hit the ground running and are blazing toward the full completion of our Q1 Roadmap goals. To finish out this quarter, we are here to announce the launch of our Staking Rewards program. This article will give a brief overview of how staking works and then detail the reward mechanism for our exciting new YFDAI staking pools.

Overview of staking

Cryptocurrency staking allows users to stake an amount of their holdings in return for a percentage-based reward over time. These staked tokens earn rewards by being submitted into Proof of Stake consensus mechanisms that require participants to put up a ‘stake’ in order to participate in the system. Proof of Stake solves the issues with slow throughput and the extreme processing power required to operate Proof of Work consensus mechanisms at scale. Where Proof of Work miners race to solve cryptographic puzzles for the right to add blocks of verified transactions onto the blockchain, Proof of Stake miners must provide collateral to testify to the legitimacy of the transactions they add. The most heavily invested and longest standing participants are delegated ‘validator’ positions within the network, and these exclusive roles are the most heavily rewarded. Any validator found to be adding invalid blocks into the chain will have a certain amount of their collateral burned by the network through a process known as ‘slashing’.

Another form of staking comes through Yield Farming. Yield Farming (or Liquidity Mining) is the process of contributing cryptocurrency as collateral to increase the utility of a DeFi platform. Liquidity pools are filled by network participants, and those who choose to stake their tokens are rewarded for boosting the network’s utility in the form of network fees. Yield farming pools can have fixed or dynamic APYs. Fixed APY pools will require contributors to ‘stake’ their tokens in the contract for a predetermined period of time, and are rewarded with a predictable percentage of the reward pool. Dynamic APY pools begin with a very high APY designed to attract initial participants, but as the pool be

comes more saturated the APY will reduce to allow for more participants to share a percentage of the total pool rewards. The more liquidity a participant stakes, the higher percentage of the rewards they receive.

Staking YFDAI on ImpulseVen

We’re proud to announce that staking is now LIVE on ImpulseVen, and the first token available for staking is that of one of our closest partners, YfDAI. YFDAI token holders are now able to stake with no minimum amount on ImpulseVen and earn rewards paid in our native token, VEN. And of course, VEN holders will also be able to stake their tokens in these staking pools. There will be two minimum lockup periods that you can choose from — 72 hours or 90 days — and each provide different rewards. A good rule of thumb is that the longer you lock up, the higher your APY will be.

  • 72 hours — Daily 0.125%, for a 42% APY
  • 90 days — Daily 0.163%, for a 55% APY

There will also be a third staking pool which will be run for a total of 180 days. This pool offers stakers a total of 25,000 VEN as a monthly reward (allocated pro rata), to be split amongst the participants.

It’s important to note that entering and exiting a staking pool will generate a fee of between 0.50% and 1.50% — make sure you check these before entering a pool. The fees from the 72 hour and 90 day pools will be distributed among VEN stakers as part of our rewards program for holders, and the fees generated from the third staking pool will instead be split equally between VEN stakers and YFDAI Last Man Standing winners.

Staking VEN on ImpulseVen

VEN holders will also be able to take advantage of our new staking mechanisms and can start to earn from their holdings.

The rewards earned from staking will be added directly to your staking pool, meaning that over time the amounts will compound and you’ll begin to see even more rewards. The best part is that you can do all of this, including YFDAI staking, directly through the ImpulseVen staking dApp.

And remember: there’s no minimum amount required to stake on ImpulseVen.

How to stake with us

Step one: Visit https://stake.impulseven.com

Here you will be met with the page shown below where you can see the various staking pools and even toggle between day and night mode.

Step two: Choose your desired staking option by clicking on the boxes. This will open a new window where you can connect your wallet.

Step three: With your wallet now connected, you will be able to stake your tokens (remember you can stake any amount you choose). To stake, you must first click Approve. From here a Metamask notification will pop up where you will need to confirm the transaction fee.

Note: Each action will require a transaction fee. We recommend you use ‘Fast’ fees in order to guarantee the success of your transactions.

After approving your first transaction, you must then click on ‘Stake’ and follow the same process for confirming this second transaction.

Step four: After successfully completing these transactions, you will be able to view you staked tokens in the ImpulseVen dApp and monitor your rewards.

Summary of staking rewards

Staking is the bedrock of DeFi as it allows blockchains and dApps to run securely across a decentralized network. The more stakers, the more secure — and the rewards for this security can be great. Yield farming further increases this utility by providing value that can be used by others on a DeFi platform. We’re really excited to be making this step today, and it will be the first of many.

To recap:

  • You can now stake VEN and YFDAI directly from the ImpulseVen dApp.
  • There is no minimum amount needed to stake on ImpulseVen.

We’re continuing to work and deliver on our roadmap, so stay tuned to our social channels for more updates on our development. We’re looking forward to sharing even more with you as soon as we can, and thank you all for your support!

Stay tuned for more info and always connect to our Official TG Channels

Telegram Announcement Channel: https://t.me/impulsevendefi

Telegram Community: https://t.me/ImpulseVen

Medium: https://medium.com/@impulsevencoin

Twitter: https://twitter.com/impulse_ven

Website:- https://www.impulseven.com

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IMPULSEVEN is a Defi Exchange,Staking & Lending Platform.

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IMPULSEVEN

IMPULSEVEN

IMPULSEVEN is a Defi Exchange,Staking & Lending Platform.

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