👋 Hello Henthusiasts! 👋
For a period of time, the guild went so quiet! 🤐 However, the development still continued in the background. Finally, for how many months after creating our governance token,$HHG, is now available for staking! 🥳
What is Staking?
In the case of our own $HHG Token, it is a form of locking up our $HHG Holdings in order to participate in governing the guild as well as to earn some rewards by doing so.
Benefits of Staking Your $HHG Tokens:
- You'll have the voting power to govern proposals for the development and operations within the guild.
So instead of having voting power by just holding you $HHG Tokens, you now need to stake it to have the same voting power.
Here is the table of Staked $HHG with its corresponding voting weight:
| Staked $HHG | Voting Weight |
|---|---|
| 1-10 | 1 |
| 11-50 | 2 |
| 51-200 | 3 |
| 201-500 | 4 |
| 501+ | 5 |
All governance process is happening on our discord server, check our social links below.
- By staking your $HHG Tokens, you will now also mine our Utility Token, Henthusiast Token ($HH).
We will use the mining contract on tribaldex by paying 1000 BEE of which we already saved up. The mining contract is a kind of lottery that will choose winners to receive the rewards. The guild will opt to the following:
- Mining Lottery every hour (24x per day)
10020 winners drawn per lottery1050 $HH Tokens rewarded to each lottery winner
In this case, the minting of $HH Tokens is around 24k per day or 720k per month or 8.64M per year.
We will create another post about the $HH Token for further explanation of its supply, use cases and such.
Mining will be available tomorrow, November 13, 2022 PHT so stake your $HHG Tokens now!
How to Stake you $HHG Tokens?
There are many frontend you can use to stake your tokens and in this case, we are going to use tribaldex.
Step 1. Open your hive keychain browser or to any browser with hive keychain extension and open up tribaldex.
Step 2. Log in to your account.
Step 3. Go to your wallet.
Step 4. Find $HHG Token and click the padlock button that can be seen on the right side.
Step 5. Input the amount of tokens you want to stake and confirm transaction.
Step 6. Lastly, check your tokens already staked. 🥳
Congratulations! Now, you have voting power plus can earn $HH Token in the process. 🎉
REMINDERS: Unstaking your $HHG Tokens comes with 30 days processing time at four transactions to fully get your tokens.
AND YOU'RE READY TO GO! YOHOOOO!
If you're still reading this, I commend youuu! Congratulationsss for coming this faaaar!
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Let us see each other in our next blog post! Thank you and have a nice day!