If you own tokens or NFTs, dozens of people in the community may have told you about gambling. They are not wrong.
According to Staked’s State of Staking Q1 2021 report, more than $ 20 billion was paid to investors in 2020 in participation rewards. The same report found that the average participation reward was 11.2% per year for investors. It is far behind the returns of Dogecoin, but it is a good source of passive income.
Emerging crypto tokens can be purchased for little money. If you buy the correct token in advance, you could benefit from the huge upside potential. For example, a $ 1,000 investment in Ethereum on August 11, 2015 would be worth a staggering $ 4.1 million today. Ethereum was worth just under $ 0.67 in August 2015.
Even if the price doesn’t go up so dramatically, you could earn nice rewards along the way by betting your tokens.
Remember that not all tokens are going to perform well in terms of price. Many will bite the dust. So if you’re going to go for emerging projects, make sure they have the potential to build and nurture a community around you. It is the community that would like to own these coins, increase their utility, and drive up prices.
Better yet, diversify your investments by maintaining a mix of new and proven tokens to minimize risk while still reaping the rewards.
What is gambling?
Staking is the process where you lock your tokens in a wallet to perform various network functions, such as validating transactions on a proof-of-stake (PoS) blockchain. Sometimes gambling involves delegating or adding tokens to a betting pool.
On the PoS network, anyone with a minimum required balance of a token can validate transactions and earn participation rewards. Participation also encourages the maintenance of network security through ownership.
Just as miners are rewarded on a proof-of-work (PoW) network for mining new blocks, stakeholders are rewarded on a proof-of-stake (PoS) blockchain with additional cryptocurrencies for contributing to the network.
Gambling rewards could range from 3% to 300% per year. You can diversify your income stream and monetize inactive tokens.
Some cryptocurrency exchanges and wallets reduce transaction fees based on the number of coins you bet.
Here are some of the most promising emerging crypto projects to bet on and earn rewards:
1. Cardano (ADA)
Powered by a team of engineers and academics, Cardano is more energy efficient than Bitcoin. It is a decentralized protocol that aims to make financial services more accessible in developing countries. Cardano is often seen as a threat to Ethereum.
Cardano is a non-profit, open source encryption network. The platform is managed by three independent bodies. It is based on Outboros PoS technology to enable a more secure blockchain network. It allows developers to run end-to-end tests without using code.
It is the first PoS blockchain platform to be based on peer-reviewed research.
Cardano’s native token is ADA, which is traded on most major exchanges. ADA owners can stake their coins to earn 5-7% annual rewards. It has become one of the most widely bet currencies in the industry.
2. Public Mint (MINT)
Public Mint is a payment system that bridges the gap between traditional finance and decentralized finance. The native currency of the platform is the US dollar (USD).
Public Mint has a fixed low transaction fee of only $ 0.05 per transaction.
You can load money into the Public Mint wallet using your bank account, stablecoins, credit cards, and more. And then you can pay or send money to anyone with the security of blockchain.
Public Mint’s ‘Earn’ rewards program is scheduled to go live in the third quarter of 2021. It will allow you to access the high earning rates available in the DeFi market for your fiat or stable currency deposits. You can still move funds instantly like a checking account.
The Earn program allows regular users to bet USD and receive an equivalent balance of the USD + stablecoin that generates profit. Users can exchange USD + for USD or USDC at any time.
The USD + is a profit generating token that will generate daily profits proportional to the current APY, as long as your USD is locked in the liquidity system.
MINT is Public Mint’s utility and government token, which provides holders with additional rewards, including a portion of the program fees. MINT holders can vote on portfolio allocation and other governance matters.
Public Mint has partnered with KIRA Network to allow its users to stake USD + stablecoin and MINT tokens to enjoy DeFi performance opportunities. Public Mint currently offers an APY of 118%.
3. Uniswap (UNI)
Uniswap is a fast-growing crypto exchange protocol that facilitates automated transactions between tokens on the Ethereum blockchain.
Traders pay a 0.3% commission on trades, which is distributed among liquidity providers. It has emerged as the go-to exchange for ERC-20 token trading.
Uniswap’s governance token is UNI, which you can bet to earn rewards. UNI has relatively low participation rewards of 3.31%. It has a market capitalization of $ 20 billion and is trading at $ 38.
4. Treasure exchange (HRD)
The Hoard Exchange team is working on an NFT market with loan functionality using NFT as collateral. It provides an infrastructure to integrate the elements of the game into the Ethereum blockchain. The platform bridges the gap between games and NFTs.
Developers can use Hoard to create NFT to use in their games, even if they have no knowledge of blockchain coding.
It also facilitates the purchase, sale and loan of game assets between players. Assets could include virtual real estate, collectibles, digital art, etc.
Stable coin players can issue loans against guaranteed NFTs for additional income.
Hoard supports wagering in his HRD currency, which is available for wagering on Uniswap. The market itself is a liquidity provider at Uniswap.
If you add HRD / ETH to the trading group, you will get UNIV2 tokens. You can trade HRD with any token available on Uniswap.
Here’s the cool part: you get double returns from the same funds. Staking UNIV2 generates rewards on the Uniswap and Hoard platforms.
Investors who bet and transact on the Hoard Exchange market can reduce their platform fee because a part of the fee is returned to investors in the form of wagering rewards.
HRD token holders also gain voting powers and have a say in the governance of the platform, as Hoard intends to become DAO.
5. SuperFarm (SUPER)
SuperFarm is another NFT marketplace in the games category. Allows players to farm NFT tokens. The DeFi cross-chain protocol enables the launch of new NFTs without the need for programming.
Any project can use SuperFarm to implement an NFT farm with custom rules and incentives. Unlike the Hoard Exchange, which is based on the Ethereum network, SuperFarm is based on the Polygon platform (formerly Matic Network).
Once the full release version is available in the coming months, it will offer video game integrations and NFT-based voting, rentals and loans. SuperFarm acts as a link between the gaming industry and the crypto ecosystem.
Users get access to limited edition items and unique gaming experiences. They can also rent, lend or trade their assets.
SuperFarm’s utility token is SUPER, which is used for fees, NFT drops, platform governance, and of course betting.
You can bet SUPER to earn exclusive rewards on SuperFarm partner farms. Bettors will earn rewards with platform fees.
6. Ethernity Chain (ERN)
Ethernity Chain is a new market for “authenticated” NFTs. Since its launch earlier this year, it has successfully completed a public token sale on Polkastarter. They have also announced partnerships with Kenetic and Terra Virtua.
Ethernity Chain’s native token is ERN. The platform partners with creators to mint their unique and authenticated works of art as NFT.
Ethernity Chain also launched a 30-day liquidity rewards program on March 15 to incentivize the ERN / ETH Uniswap LP. During the program, 50,000 ERN tokens were distributed to ERN / ETH liquidity providers on Uniswap V2.
Unfortunately, US citizens cannot participate in the Ethernity stakeout.
Ethernity Chain has a monthly payment plan for ERN token bettors, but the APY keeps fluctuating between 100% and 300%.
7. Polkadot (DOT)
Polkadot is a unique PoS protocol from Web3 Foundation. It provides a system in which permissionless and public networks, consortium chains, and oracles can seamlessly interact with each other. They can transact and exchange information without trust.
Polkadot makes it incredibly easy for developers to create their own decentralized applications, utilities, and projects; and connect with each other. Additionally, Polkadot does not suffer from the scalability issues that plague Ethereum.
Polkadot’s native token is DOT, which is currently trading at $ 40. It has a market capitalization of $ 40 billion. The wagering rewards for the DOT range from 13% to 15%.
8. Polygon (MATIC)
Matic Network is backed by Binance and Coinbase. It has recently changed its name to Polygon, but the ticker is still MATIC.
Matic Network is a scaling solution that uses an adapted version of the Plasma framework with PoS sidechains. It allows extremely fast and low-cost transactions. In theory, a single Matic sidechain can achieve 2 16 transactions per block.
Polygon’s MATIC token runs on Ethereum. You can use it to pay for services on the Matic Network. It is also the settlement currency between users within the Matic ecosystem.
On Matic Network, you can bet your tokens through the Game Panel. You need to delegate your tokens to a validator to start earning passive income.
The validator will take a small percentage of your wagering rewards as commission. But as a delegator, you will be able to track stats, withdraw, or re-bet your rewards. Matic currently offers an APY reward of around 21%.
Gambling PoS tokens is a smart way to earn passive income while keeping your tokens and NFTs. Money flows into your account while literally doing nothing, except, of course, helping to improve network security.
The Annual Percentage Yield (APY) of crypto tokens is much more lucrative than the interest rates of bonds. And then there is the possibility of a price appreciation if you buy the right tokens in advance, which could dramatically increase your profits.
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