Staking

At DegenPad, we’ve crafted a unique tier and staking system designed to cater to all types of investors, from those just starting out to seasoned veterans. This blog will guide you through the specifics of our tier system, explain how staking works within DegenPad, and highlight how you can optimize your participation.

The DegenPad Tier System

The DegenPad tier system is designed to be fair and accessible, allowing participants at every level to benefit from our platform. Here’s a breakdown of the tier structure:

1. Ape: Just dipping your toes in? Welcome to the Ape tier, where even the smallest commitment lets you thrive in the Web3 jungle. The Ape tier requires a minimum of 2,000 staking points. With a 1x pool weight/allocation multiplier, it’s perfect for those beginning their DeFi journey. At this level, you’ll enjoy benefits like social interaction, refund eligibility, access to the FCFS (First Come, First Serve) round, and the ability to vote in DAO proposals.

2. Chad: Got a bit more skin in the game? Chad tier lets you flex just enough to make your presence known, with perks that match your commitment. The Chad tier kicks in at 20,000 staking points, offering a 4x pool weight/allocation multiplier. You’ll gain additional benefits, such as a guaranteed round and increased participation rights, all while enjoying the privileges of the previous tier.

3. Shark: Ready to make some serious moves? Dive into the Shark tier, where the waters are DEEP, and the rewards are bigger. The Shark tier requires 50,000 staking points, providing a 10x pool weight/allocation multiplier. This tier grants you access to crowdfunding and private pools, incubation airdrops, and more advanced perks, setting you apart as a serious investor in the DegenPad ecosystem.

4. Whale: The top of the food chain. If you’re here, you’re a Whale — and you’re making waves in Web3. The Whale tier, reserved for those with 200,000 staking points, offers a whopping 40x pool weight/allocation multiplier. This tier provides maximum benefits, including freemium access to ChainGPT AI tools, the ability to create DAO proposals, participate in node sales, and join the exclusive Private Whale Group. If you’re all-in on DeFi, this is where you want to be.

How Staking Works in DegenPad

Staking is a critical part of participating in DegenPad’s tier system. Here’s how it works:

• Staking Points: When you stake tokens on DegenPad, you earn staking points. These points determine your tier within the system. The more tokens you stake, the more points you accumulate, and the higher the tier you can achieve.

• Cross-Platform Integration: Staking on DegenPad is interconnected with other platforms within the ChainGPT ecosystem. Specifically, if you stake on DegenPad Pools, 50% of your staking points will be reflected on ChangeGPT Pad, and vice versa. However, your full amount of staking points will count toward your voting power within the ChainGPT DAO, giving you influence across the entire ecosystem.

• Incentive Structure: The DegenPad staking system is designed to incentivize long-term participation. The longer you stake your tokens, the higher the multiplier applied to your staking points, meaning that consistent, long-term staking will help you climb the tiers more rapidly.

• No APY, Just Rewards: Unlike traditional staking platforms that offer an Annual Percentage Yield (APY) in the form of passive income, DegenPad focuses on direct participation rewards. By staking, you gain access to IDOs and other exclusive opportunities that are directly tied to your tier level.

Benefits for $CGPT Stakers

$CGPT stakers are at the heart of the DegenPad ecosystem, and their commitment is rewarded with several exclusive benefits. By staking $CGPT, participants not only earn staking points that determine their tier within the DegenPad platform but also enjoy enhanced access to IDOs, priority in project allocations, and increased influence within the ChainGPT DAO.

Moreover, all ChainGPT Pad users who are staking on ChainGPT Pad will receive 50% of their staking points on DegenPad as well, enhancing their participation across both platforms. This cross-platform integration ensures that staking on either DegenPad or ChainGPT Pad contributes to your overall staking power, maximizing your influence and rewards within the entire ChainGPT ecosystem. With these advantages, $CGPT stakers are well-positioned to optimize their returns while playing a pivotal role in the growth and governance of both DegenPad and ChainGPT Pad.

Maximizing Your Participation

To get the most out of DegenPad’s tier and staking system, consider the following strategies:

• Start Early: Begin staking as soon as possible to accumulate staking points and climb the tiers. Early participants will have the advantage of accessing initial IDOs and securing allocations before others.

• Stake Consistently: Consistent staking over time will allow you to benefit from the multiplier effect, helping you ascend to higher tiers more quickly.

• Leverage Cross-Platform Points: By understanding how your staking points impact your status across both DegenPad and ChangeGPT Pad, you can strategically allocate your staking to maximize benefits across the ecosystem.

• Engage with the DAO: Remember that your staking points also contribute to your voting power within the ChainGPT DAO. Engage in governance decisions to help shape the future of the platform while reaping the rewards of your staked tokens.

Conclusion

The DegenPad tier and staking system is designed to be inclusive, rewarding, and strategically aligned with the broader ChainGPT ecosystem. Whether you’re just starting your DeFi journey or you’re a seasoned investor, there’s a place for you at DegenPad.

By understanding and engaging with our tier structure and staking mechanisms, you can optimize your participation and maximize your potential returns. Join the DegenPad community today, start staking, and begin your journey!