How to stake $HPL?
We are super excited to announce that $HPL Staking is deployed on mainnet! Staking is where users can lock some $HPL for a certain amount of time to earn more $HPL.
What is $HPL Staking and How Does It Work?
$HPL staking refers to the lock-up of $HPL to receive staking rewards and other benefits. This allows $HPL holders to earn a passive income yet maintain ownership of their $HPL.
By staking $HPL, you will receive rewards according to the annualized yield, staking duration, and the amount of $HPL staked.
Why Stake?
There are a constant switch between uptrends and downtrends, and $HPL is not an exception. Staking $HPL helps you earn passive income.
There are a couple of benefits.
First, by staking $HPL, you will be making that amount of $HPL unavailable for purchasing, reducing the supply of $HPL, thus bringing supply-demand balance while keeping its liquidity intact.
Secondly, you get to earn an extra $HPL. We are looking to diversify your earnings by focusing on Play-To-Earn and Stake-To-Earn for busy investors.
Thirdly, the longer you stake, the more attractive the rewards. The minimum staking time is two weeks. However, most investors will usually have a longer staking time (etc., 2–3 months at least) so it turns out to be in their favor.
So, by staking $HPL and earning $HPL, you can generate passive earnings and continue to boost its value over time!
Staking as deflationary feature
The rewarded $HPL and $HPW are taken from the staking reward treasury. This is a perfect way to limit inflation, keep supply and demand balance, and avoid unwanted price drops due to manipulative acts.
How to Stake
Step 1: Go to
https://app.happyland.finance/
and connect your wallet.
Choose your wallet and continue.
Step 2: Go to https://app.happyland.finance/stake and start the staking process
Select the right pair
Select the amount of $HPL that you want to stake select approve to stake
Select the amount you want to stake > press stake and lock > follow the instruction on Metamask to continue.
After the staking has been conducted, a confirmation like this will show up.
Conclusion
To sum up, by staking $HPL holders can earn more $HPL as passive in-come. It is one of the many perks of being a $HPL holder. The minimal time for staking is 2 weeks, but the longer $HPL holder stake their $HPL, the higher the reward. The reward for staking $HPL is taken from $HPL staking treasury to prevent inflation. Staking of $HPL to earn other assets such as $HPW will come later!
We also made a FAQ for staking: https://medium.com/@happyland_finance/frequently-asked-questions-for-staking-hpl-b74c9cc96508
About HappyLand
HappyLand is a blockchain gaming platform, inspired by the Texas countryside. In HappyLand, players will transform into the role of a farm owner cultivating, breeding pets and taking care of his farm. From there, each player will participate in building and multi-farm metaverse with many unique custom styles.