Staking

An important utility of the $PARAM token within the Param ecosystem is the ability to stake $PARAM and earn different types of rewards and incentives. These rewards can either be from the Param ecosystem fund or special allocations from other projects and partners that make up the Param ecosystem.

How it works:

1. Token holders stake their $PARAM on the staking platform and earn a soft off-chain currency [token x] weekly; [token x] is non-tradeable and cannot be transferred.

2. [Token x] can then be used to redeem allocated tokens from partner projects.

3. Once a participant redeems [token x] for partner tokens, the equivalent [token x] used is burned and removed from supply permanently.

4. The staking mechanism rewards participants based on a tiered system. Specifically, the system is designed to take a participant’s staked weight into consideration. Meaning, the more $PARAM staked by an individual, the more [token x] is earned by that participant.

5. Unstaking $PARAM token will result in the forfeiture of earned [token x] accumulated, however, the token holder gets back 100% of their initially staked $PARAM.

The staking model is intended to incentivize loyal token holders who envision the success of Param in the long term. Moreover, as the Param network-effect scales with the addition of more successful partner-projects in web3, direct exposure to those projects may further enhance the experience of $PARAM token holders.

To begin $PARAM staking, go to https://paramgaming.com/#/staking.