Cryptos

Three Ways to Take Advantage of the Expanding Polkadot Ecosystem

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The fragmented blockchain Polkadot gained popularity after it confirmed the next batch parachain auctions via its Kusama network. While the crypto community is eagerly awaiting the nominations, it’s important to remember that Polkadot already exists and is fully-fledged.

Polkadot, which was founded by Ethereum OG Dr Gavin Wood has long been regarded as a viable rival for the world’s most-respected smart contract network. This is due to its sophisticated infrastructure, thriving community and promise of true interoperability. interoperable between applications on different chains.

Already a Top 10 cryptocurrencies based on market capitalization(DOT), the platform was created five years ago. It ultimately aims at supporting a global network interoperable parachains/parathreads that communicate seamlessly between each other. The deployment of Polkadot could be a straightforward task for both cost- and performance-minded developers in the near future.

But that’s only for the future. Polkadot’s vibrant ecosystem allows users to take advantage of many opportunities. Here are three ways you can take advantage of the Polkadot Blockchain right now.

Bet DOT to Earn Returns

Polkadot uses a Nominated Proof of Stake(NPoS) algorithm to ensure network security. In direct staking, you can Sponsorship is an option.Responsible for nominating validator candidate candidates you trust to help earn DOT rewards or a validator validating evidence from assemblyrs and participating with validators in consensus

For a direct nomination on Polkadot you will need at least 80 DOT tokens. This is just over $2,000 today. But, because there are only 22,500 minators, having enough tokens does NOT guarantee you a staking position.

Configure a validator networkPolkadot is more complicated because it requires extensive experience in system administration. The minimum stake required to be elected as an active validator for Polkadot is dynamic. Variations over time. Polkadot Validators can expect around 10% in average returns

If you find the idea of ​​direct staking a little intimidating, there are alternative services that allow you to participate. Binance allows you to use DOT to buy high yield farming tokens. LauchpoolUsers can also wager DOT in Binance Locked StakingEarn up to 31.49%

Kraken, another major cryptocurrency exchange, has launched support for Polka dot stakingLast year, the annual rewards were 12%

Use Dot.Finance’s deFi suite

Leveraging is another great way to maximize your return on DOT investments. DOT.Finance, a dedicated DeFi aggregator to the entire Polkadot community. Instead of betting DOT to earn a percentage, DOT.Finance helps users get a better rate for return by applying innovative return optimization strategies to a variety DeFi apps.

The best thing about DOT.Finance? Its smart contracts automatically dial into your staking returns at a frequency that will increase APY. In the words of the team, “It’s like farming with a tractor instead of pulling a yoke over your shoulders.

The good news is that DOT.Finance soon will be able to allow users to own Polkadot Index tokens. This will allow them to have access to a range of Polkadot assets.

Fly to the Moon (beam).

Moonbeam’s upcoming launch at Polkadot offers another chance to win. Moonbeam is an Ethereum-enabled smart contracts platform that simplifies building native applications.

Moon ray To escapeThe token event will begin on September 7, and aims to thank Moonbeam for their continued support. 80 million Glimmer Tokens are distributed (GLMR) in three rounds. Each round requires a whitelist to participate (register). Here.

The early access cycle is only for the main supporters of project (crowdloan Moonriver participants or PolkaPet holders).The second is open to everyone: If you’re a member of Telegram or Discord, the second is great.

Take Flight has an interesting condition. It has a low contribution threshold which means that ordinary investors can make the same amount as major bag holders. The three staggered tours are expected to provide a broad range of participants, all with a stake in success for the Moonbeam Network.

So there you have it. Three solid options for anyone who wants to leverage Polkadot prior to a single parachain being launched. You are welcome.


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