Staking

In cryptocurrency, staking can simply be explained as using one's digital assets to earn yield by depositing the assets onto a platform that provides such services. For the average investor, staking is a useful way of earning extra rewards for holding certain cryptocurrencies.

Among our ecosystem's core product is a decentralised staking platform. Our staking dapp aims to promote community participation in the project's growth and reward participants while minimising or eradicating risks associated with impermanent loss (IL). This platform will be a multichain platform open to all qualified projects.

STAKING AS A SERVICE

Phanes staking as a service or SAAS is a program designed to the use of a single token strategy for every project launching a reward system on our platform. All participants of a particular vault are rewarded for using our platform with Phanes Network token, $PNT. Projects who wish to be part of the SAS can enter the program through the following:

• Projects selected by the Phanes’ research team / Community without submitting an application. These projects would have been reviewed and verified by the team and equally subjected to a governance vote by Phanes community.

• Application & Governance: Projects who would like to be part of our ecosystem can apply for a listing service via our website or through our team members. Successfully submitting an application will not guarantee a listing until the project has been reviewed and audited by our team. Once the project has been verified, the Phanes community will decide the acceptance of the project through our governance system.

• Partnerships: By being our partner, a project gets an automatic ticket to be listed on our staking platform.

Terms and conditions of the staking reward will be discussed by the team