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Staking at the OGC

Oct 6th, 2023 at 12:00

At the beginning, let's tell a little introduction for those who don't know at all what staking is. 

If you are quite familiar with this system, and if you are a true cryptan (not Kryptonian, it matters) then go below.

And so there are only those who hear the trendy word «Staking» for the first time. I should note that it has nothing to do with juicy and flavorful steaks that are grilled or anywhere else. No, it will not give pleasure to your taste buds, but it will add to the ringing or rustling of money in your pockets.

Imagine that you own a certain amount of cryptocurrency and you want to earn monthly profits based on your shares in the project. You can freeze your coins for some period of time to earn a percentage of it. This practice is called Staking.

The basic idea behind staking is that a user participating in the staking process locks his coins for a certain period of time. In return for this, he receives a reward or a percentage of the total amount of coins frozen in staking.

Why is staking important?

First, staking allows projects to reach a higher level of security and decentralization. When coin owners blockchain, they become "stakers" and can make decisions about the project's operability, verify actions and confirm their validity through voting (DAO*). In this way, the project becomes more sustainable by making informed decisions.

Secondly, staking allows you to earn passive income. By being a staker, you earn a percentage of your frozen coins. This is a great way to grow your portfolio and earn additional profits.

Also, staking benefits the entire cryptocurrency ecosystem. The return of percentage to coin owners motivates them to block their assets repeatedly. The more coins that are blocked, the less volatile the price of the coin is.

How will this work in the OG Community?

OGC's revenue will be more of a way to reward community members. Therefore, 80% of all project revenues will be used to invest in the gaming industry, as well as to develop elements of the ecosystem to further enrich the community. The income from the investment will be distributed to token holders, which are placed in staking, and to buy back OGC tokens from the market, to maintain the price.

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Depending on the period of token staking, an increasing multiplier applies, viz:

  • 3 months - multiplier 1.25
  • 6 months - multiplier 1.5
  • 12 months - multiplier 2
  • 24 months - multiplier 3
  • 36 months - multiplier 5

Obviously, the period of staking greatly affects the amount of rewards.

Also, there will be regular drawings of valuable prizes among the stakers.

Another important reason to place tokens in staking is to participate in the DAO*. In order to make decisions about actions within the ecosystem you need to keep tokens in the token stack, the more tokens you have in the token stack, the more votes you have to make decisions.

We'll talk more about DAO and solutions within the ecosystem very soon.

To summarize, we can say that staking is a unique opportunity not only to get additional profit, but also to actively participate in the development of the project. Stakers benefit not only themselves but also the entire OG Community.

What would you do with your tokens? Would you freeze them in staking for passive income, or for the opportunity to participate in DAO?