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$PARAS and NFTs Staking
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01 March 2022
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It has been a year and a month since we launch on the mainnet on NEAR Protocol. What started as a marketplace becomes a place where artists and collectors could get together in an open community. For over a year, Paras has supported and helped to breed incredible NFTs projects on NEAR Protocol.
Paras started small both in the core team and also in the community. We started to invite 20 artists only and now we have opened the marketplace for everyone in the world. Not only that we want Paras to thrive as a marketplace, but we also want to be the house of bigger projects to come. To become the center where unite; we want to see the amalgamation as we believe it would lead to a healthier and better ecosystem.
In September 2021, we finally release $PARAS. We stand on the idea that $PARAS could be a bridge for our users to collectively and directly post changes to the marketplace. The event embarks us on a long journey.
The next steps for $PARAS stakers:
1. Paras holders/stakers will be eligible to get airdrop/whitelist from our partners.
2. Soon will be able to govern the ecosystem, from transaction fees to grants, the paras stakers can vote dan direct Paras onwards.
3. More and more exclusive features will only be accessible to the paras holders, and we need your ideas!
More than $PARAS
From governance to exclusive events, $PARAS will be influential to the state of the marketplace. We believe the direction of the marketplace should be tethered to what the community wants. We will enable $PARAS stakers to govern the ecosystem from transaction fees to grants. The $PARAS stakers can vote and decide the future of Paras. Our users who stake $PARAS will be eligible for airdrop or whitelist from our partners. Not only that, but we are also giving exclusive access for $PARAS holders.
We need your ideas as well. Visit https://paras.canny.io
$PARAS for $PARAS
$PARAS staking is live! From now on, all $PARAS holder is eligible to stake their $PARAS natively via stake.paras.id. Currently, there are 750.000 $PARAS ready to farm. The next step is to increase the prize rewards. As an appreciation to the holders, the Paras team will use the treasury from our transaction fee. We will add them to the pool and increase it by a significant amount.
NFTs Earns Too
The extension of the $PARAS staking is the NFTs staking. Natively built on Paras, we could tinker with the staking formula and enable users to stake their selected collections. Through staking, we enable the holders to earn from the rewards pool. In the beginning, we will enable the “Key to Paras” and cards from “Pillars of Paras” collection to earn via NFTs staking. The implementation of this feature would be endless. For a start, it will give NEAR natives projects to integrate their NFTs as a tool to farm. Next, projects on NEAR could implement NFTs staking for their collection with rewards that vary.
Disclaimer: We will also accommodate double rewards besides $PARAS if a collection has its own token to distribute.
We will announce up to three collections every week that are eligible to create their own staking pool. These collections will be chosen by our scoring system based on the metrics we decide. We set it as fair as possible by considering all parameters such as floor price, total volume, etc.
We will announce one collection besides “Key to Paras” and “Pillars of Paras” in the first week.
If you have any further questions regarding NFT staking, we will host an AMA (ask me anything) session on our Twitter on Sunday, 27th Feb, 3 PM UTC.
Our next move will be crucial in building a strong community that could earn from the projects they like. From PFP projects, games, and comics, we are planning to build features to assist communities that have supported all the projects on NEAR. We are truly excited about what we have in store!
