🪙Staking

Smudge Cat Staking

Staking is a pivotal component of the Smudge Cat ecosystem, offering token holders the opportunity to earn additional rewards simply by holding their tokens in a designated wallet. Here's a detailed explanation of how staking works on Smudge Cat:

Potential Earnings: By participating in Smudge Cat staking, users can expect to earn an APY (Annual Percentage Yield) of 310%. This means that users will receive a return of 310% on their staked tokens annually.

Reward Mechanism: Staking rewards are distributed regularly to participants based on their stake in the network. These rewards are generated through various sources, including transaction fees and controlled inflation.

Referral Program: In addition to staking rewards, Smudge Cat offers a lucrative referral program. Users can earn 10% of every deposit made by referred friends into staking. This incentivizes community expansion and rewards members for bringing new participants to the platform.

By participating in Smudge Cat staking, users not only have the opportunity to maximize their earnings but also contribute to the security and stability of the network. This is an effective way to engage token holders in the community and foster a robust and thriving DeFi ecosystem.