Staking and Reward Pools

Sphera allows any project to create its own staking or rewards pool. Projects can create staking or reward pools to incentivize early adopters who use their protocol or service to lock up their tokens for an extended period. Stakers are rewarded with additional amounts of the project's tokens by locking their tokens away and staking. This is akin to receiving passive income and is best compared to a bank term deposit.

Projects who create a staking and rewards pool with Sphera can manage these via the corresponding token details page. Admin view will be shown to those whose wallet addresses have created any smart contracts using Team Finance services such as team token lock, liquidity lock, token vesting or staking.

Individual token pages will be where stakers can locate a project's staking and reward pools and view the staking power of its liquidity pool. A project can utilize its individual token page as a one-stop shop for its community members and investors for staking pools, vesting, locking information, and more.

By connecting their wallet to the Sphera dashboard, users can access important information about their participation in a project's staking and reward pools, including their staked amount and earned rewards. They can also view details about the pool, such as the token pairing, staking period, total amount staked, and the estimated annual percentage yield (APY) they could earn. This transparency can assist users in making informed decisions about whether to join the staking pool. It is crucial to thoroughly research and compare various staking pools to find the one that best fits your needs, as fees and reward distribution policies may vary significantly. Additionally, it is essential to minimize investor risk by thoroughly researching the project before investing.

Advantages of Team Finance Staking & Rewards Pool

1. A project benefits from staking because it reduces the total number of tokens in the circulating supply. This leads to less supply which can lead to price appreciation. Sphera staking and rewards pools benefit from synergy with other Sphera services. Projects can direct their communities to a single page to view project details, lock events, and vesting schedules, on top of joining active staking pools.

2. A staker benefits from the Sphera platform's simplicity and low barrier of entry in order to gain passive income. Staking pools make it easier for individuals to participate in proof of stake (PoS) networks, as they can join a pool and delegate their stake to the pool rather than setting up their own node. This can provide a convenient and low-risk way for stakers to earn returns on their digital assets.

Baptswap also has its own staking pool. You can find more details here.