COPI token's staking programs show no sign of slowing down!
Cornucopias’ new single asset stake pool is live.
It’s been a minute since our last edition, but the COPIWatch team is back to bring you the latest news from within the Cornucopias’ metaverse project. With that being said, we’re excited to announce the opening of a brand new single asset staking pool for COPI token holders! Our current pool has seen phenomenal success, with close to 90 million COPI tokens staked and a growing number of tokens added to the pool by the day.
The current staking pool will be over in about a month, and the Cornucopias team wants to encourage as many COPI token holders as possible to participate in the new stake pool. Please note that we are not suggesting that you unstake unless you have met the requirements for your rewards. As vested tokens become unlocked from our launchpad and pre-sale events, now is the perfect time to add liquidity to the new stake pool so you can earn passive rewards while you HODL your COPI.
New stake pool important facts:
Cornucopias’ new single asset stake pool went live on February 10th, 2022. We will be collaborating with Tokensfarm again, so nothing will change about the staking process or the user interface. The main difference is that the new pool will last for 90 days as opposed to its predecessor’s 61-day lifespan. Also, the new minimum staking time required to receive APY rewards is 60 days instead of 45 days.
This pool will also be subject to dynamic APY, which means that the APY will adjust to the number of stakers in the pool. More stakers = less APY, but also a stronger, more robust COPI token network. As always, you will have the option to unstake from the new pool before the end of your lock period and withdraw your original assets by waiving your COPI rewards.
Our metaverse project’s goal with this new staking pool is to distribute COPI rewards to stakers over a longer period of time, thus allowing our cryptocurrency ecosystem to establish liquidity without over-flooding the market with tokens.
If you’re currently participating in the original stake pool, you can continue to keep your assets locked up until the pool comes to a close. It is important to note that these assets will not automatically roll over into the new pool. If you want to put these assets to work in the new staking program, you will have to manually withdraw them from the previous pool and then deposit them in the new pool.
Either way, as long as you have COPI to contribute and BNB in your wallet to cover transaction fees, you’re all set to participate in the new stake pool!
Why HODL when you can STAKE?
There are many advantages to contributing your COPI tokens to the community’s stake pool, the least of which is that it's an easy way to create a stream of passive crypto returns by earning APY. Granted, the APY earned from staking COPI is less than if you were to stake LP tokens through our farm yielding program, but the process is much easier. Additionally, single asset staking carries no risk of impermanent loss, and you can withdraw your original assets at any time.
In the end, perhaps the best thing about staking your COPI is that is it a tangible, and perhaps the easiest and most productive way to demonstrate your support for the amazing things this metaverse project is trying to accomplish. It’s an opportunity for you, as a fearless Cornucopian, to firmly plant your flag in favor of this metaverse’s future, and send a clear signal to the rest of the cryptocurrency markets that you support and are helping to lead a gaming revolution.
How to participate in the new stake pool:
The first thing is first: you need to have COPI to stake, and you need to have BNB in your wallet to cover the transaction fees, which will be minimal. Once you have your assets ready, proceed with the following:
STEP 1. The process is relatively straightforward regardless of which wallet you’re using. Follow this link to our new stake pool. Once you arrive, click on the CONNECT WALLET button on the top right-hand corner of the screen.
STEP 2. You will be greeted with a window that will present various wallet options prompting you to connect to the platform. Pick the wallet you feel most comfortable using, and make sure that your wallet is connected to the Binance Smart Chain network; otherwise, your default setting will most likely be on the Ethereum Mainnet, and you will not be able to proceed.
STEP 3. Once your wallet is connected, you should see your wallet’s icon, along with a green light and your wallet address where the CONNECT WALLET button was on your screen. This confirms that your wallet is connected to the farm and that you are ready to begin depositing funds.
STEP 4. Enter the amount of COPI you’d like to deposit from your wallet into the stake pool, or simply hit DEPOSIT MAX. Then click the APPROVE COPI button to review the terms of the stake pool before confirming.
STEP 5. You will be greeted by a window that shows you how much COPI you will be staking, the minimum stake time, the last day to earn APY, and what portion of the total pool you will be contributing. Once you’ve confirmed all these details, hit APPROVE COPI.
STEP 6. This will open another window in your wallet where you can review your total transaction fees, as well as other details like contract interaction and the farm’s wallet address. Once you’re ready to stake, approve the transaction on your wallet.
STEP 7. You will be greeted by a window that states: “Staking Complete.” Congratulations, you’ve now staked your COPI tokens in the farm’s smart contract!
You can monitor the progress of your APY rewards via a small window directly beneath the form field you used to stake your COPI. It is titled: YOUR POSITION and provides important information including how much you have staked, and how to withdraw your assets/rewards.
We’re thankful to be in service of such an incredible community and hope that this new staking pool will be even more successful than the original one. The Cornucopias team is still working hard to perfect our digital assets delivery systems in order to ensure a great user experience when we relaunch the Bubblejett Sprinter NFT sale, so please stay tuned and thank you for your patience!