Increase your passive income by staking crypto with Parody Coin (PARO) and Shiba Inu (SHIB)
Staking is one of the easiest and fastest ways to earn passive income with cryptocurrency. When you stake a cryptocurrency, you agree to lock a portion of your tokens into a smart contract and once a set minimum period has expired, you can collect your tokens.
In return, the protocol pays interest in the form of cryptocurrency rewards, valued based on various factors. Each protocol has its own reward calculation system. There are many reasons why a network may encourage token staking, and the most common of these is to provide liquidity to DeFi applications such as decentralized exchanges.
There are many tokens to choose from when it comes to staking – each offering different staking rewards and a range of different methods and platforms.
As it can be difficult to find the best rates and offers on the market, to save you time, we have compiled a list of three cryptos that offer unique and great value rewards and interest rates: Shiba Inu ( SHIB), PancakeSwap (PARO) and parody piece (PARO).
Earn multiple streams of passive income with Parody Coin (PARO)
When you stake Parody Coin (PARO), you can earn passive income from three sources: the BNB Chain Protocol and ParoReward and Paroflection rewards from the Parody Coin ecosystem.
All fees for using dApps on the Parody Coin ecosystem are charged in Parody Coin (PARO) and these fees go to the Treasury from which it is divided and distributed. 50% of the fee is redistributed to those who staked their Parody Coin (PARO), with 30% going to the liquidity pool and the remaining 20% being sent to the project’s burn wallet. This is the Paroflection model.
ParoReward is another way to earn high rewards for staking your Parody Coin (PARO), where some of the tokens staked by users are locked into a pool that provides liquidity for loan markets and pays stacker dividends to from part of the interest paid by the borrowers.
Staking is one of many post-launch upgrades for Shiba Inu (SHIB)
Shiba Inu (SHIB) has come a long way since its launch in August 2020, growing from a meme coin that served as a basic store of value to a vast ecosystem supported by an active community of over half a million enthusiasts. and developers.
The Shiba Inu ecosystem includes three different tokens (SHIB, LEASH and BONE), the Shiba Incubator program, ShibaSwap, etc., and it keeps growing.
Users can stake their Shiba Inu (SHIB) tokens on ShibaSwap, the official decentralized Shiba Inu exchange, as well as centralized exchanges like Binance to earn rewards. Shiba Inu (SHIB) owners can also earn additional rewards if they choose to burn their tokens through the Shiba Inu Burn portal.
PancakeSwap (CAKE) Increases Yield Farming Rewards
The PancakeSwap (CAKE) community recently voted to adopt a proposal on the network that, in theory, would offer greater incentives for holders to stake their PancakeSwap (CAKE), in addition to an increase in the number of tokens in circulation in the next three years, capped at a maximum of 750 million CAKE.
Currently, CAKE-CAKE is a liquidity pool that often offers high APY returns for staking PancakeSwap (CAKE). Staking PancakeSwap (CAKE) also enters token holders into a lottery pool with the opportunity to win NFTs.
The proposal proposes the creation of three new tokens called vCAKE, bCAKE and iCAKE to help increase rewards for liquidity providers on the PancakeSwap platform.