Creator’s Staking Pools — Stake & Earn $CTR with Amazing APR!
Staking is a way for members of a community to provide liquidity while earning rewards for doing so. In most DeFi projects, staking is only done with a lock-up period. However, Creator Platform took a different approach to the concept of staking.
Creator introduced staking among its many features in Q4 of 2021, giving its users the opportunity to contribute to liquidity by staking their $CTR tokens to earn more $CTRs.
With the Creator Staking Platform, as a liquidity provider, you have 3 options of pools to choose from. They include:
1. The 180-day “Lock Up Period” Pool
Staking in this pool means once you stake your $CTRs, you can only take them back after 180 days which is about 6 months.
Although unstaking is after 6 months, this staking option brings the highest yield in the protocol with 28% APR rewards.
2. The 90-day “Lock Up Period” Pool
This pool allows users to stake their $CTR tokens and unstake them after 3 months with earning yields of 14% APR.
3. No Lock-up Pool
This is a very special pool type of the Creator’s Staking Platform. Liquidity providers can stake their $CTR tokens and unstake them at will. You don’t have to wait for a certain duration before you can access your funds.
However, this pool generates 3% — 5% APR yields for you depending on how long you stake your tokens for.
The most important information to note about Creator’s Staking is that there are only a total of 3,000,000 $CTR tokens for rewards all the pools. Once the number is actualized, the pools will be shut and there will be no more staking.
However, staked tokens at the time of allocation actualization will be returned to the wallets of the liquidity providers with the amount of yields they earned so far.
It is therefore advisable that you start staking your $CTRs now before the allocation amount capped and staking ceases. The earlier, the better!
Guidelines to Staking on Creator’s Pools.
A. Get a Compatible Wallet
Before you begin staking, do you have a compatible wallet to hold your CTR tokens? If you do not, follow the steps.
Head over to Google Play Store or App Store to get one. The most recommended is MetaMask.
2. Set it Up
Afterwards set it up, save your private keys, key phrases, and password safely to avoid losing them.
3. Choose a Network
CTR supports users of 2 Blockchain networks which includes BSC and Ethereum.
You can choose either of them according to your preference. I would go for BSC because of considerable reduced gas fees.
4. Fund Wallet
You can get you $CTR tokens from DEXs like PancakeSwap, Gate.io, Binance, Nexo with with ETH or BNB and get them into your wallet once the transactions go through.
I recommend PancakeSwap with a CTR/BNB pair.
B. Connect to Creator’s Staking Platform
Visit https://staking.creatorchain.network/ which will take you to the staking dashboard.
There are terms on the dashboard you should be conversant with:
✓ Total Staked: The total number of $CTR tokens that has been staked on the platform since it began.
✓ CTR Price: The current price of $CTR on the market per second.
✓ Total Volume 24h: The total volume of stakes within a 24-hoir period.
Now, let’s kick off with the steps to connect your Staking dashboard to your Wallet.
1. Locate the “Connect Wallet” and the top right of your dashboard and click on it.
2. A page will pop up asking you to choose which Wallet. Select your MetaMask (as you have) and it will direct you to your Wallet.
3. Open your Wallet and confirm the connection.
4. Return to the Staking dashboard and your wallet address/balance will be displayed at the top of the dashboard.
As earlier deduced, there are 3 pool tabs on the dashboard which you can select. Each pool has the 3 indicators:
✓ Total Amount Staked; the total amount of $CTR that has been staked on the pool since inception.
✓ Total Rewards; the total amount of $CTR that has been given as rewards since the pool began.
✓ APR; the annual % rate of yields at present.
1. Choose a pool by clicking on it.
2. When a window pops up, to deposit the amount you want in the pool, you have to authorize Creator to withdraw $CTR from your Wallet.
Click on “Approve CTR”
3. Your Wallet will pop up showing you an amount you have to pay for this approval. Check and if you are comfortable with the fee, confirm it.
4. After the approval, you are taken back to the dashboard. Enter the amount you want to stake and click on “Stake”.
5. A pop up will ask you to confirm the amount of $CTR one last time. If you want to go ahead, click “Confirm”.
6. MetaMask will pop up again asking you to check and confirm your staking fee. Click on “Confirm”.
Your staking process is complete! You can go back to the “staking” home page to check your staking status.
If you have any questions, you can ask them in the comment section of this post, or write the support address of Creator: email@example.com
About Creator Platform
Creator Platform, a Blockchain-as-a-Service (BaaS) project, has incredible features that distinguishes it from others such as the Low Code DAps, No Code Smart Contract, and others with the aim of mitigating some problems active players of DeFi & GameFi face in the industry.
The Creator’s chain is built on the Polkadot/Substrate that provides for true interoperability in its network and ease of technology for Smart Contracts or DApps.
The network also instills friendly UI, user-driven network governance & customizations, and other enhanced features into its ecosystem that focus on Defi, NFT and other blockchain-related services.
For more information and updates follow the channels below and join the community;
Medium: Creator Platform