Announcing the Long-Awaited $PIF Staking Program
Now that Play It Forward DAO’s token launch is completed, our new $PIF token holders are looking forward to staking their tokens and earning rewards. After all, the benefits and power of the Play It Forward platform are unleashed by staking $PIF. Not only will staked $PIF earn holders financial rewards, but they’ll also provide access to exclusive tools and assets.
The Play It Forward staking program is easy to understand and use. By depositing tokens in the staking pool of their choice, rewards will automatically accrue. Play It Forward’s goal has been to make play-to-earn gaming as simple and accessible as possible. In this post, you’ll learn about the broad mechanics of our staking program, how it works, and what you can expect in the future.
An Overview of the $PIF Staking Program
Without our token holders, Play It Forward is nothing. Hence, the project team is dedicated to handsomely rewarding every loyal $PIF token holder. This will be achieved by weighting rewards based on how long holders stake their $PIF, with longer periods resulting in higher annual percentage rates (APRs).
· The $PIF staking program will offer 3% of its total token supply as staking rewards for the first year, allowing a maximum of ~2.5 million tokens rewarded each month.
· $PIF token holders will have the option of staking their tokens in either the single-sided $PIF pool or by providing liquidity on Uniswap V2 and staking the LP for $PIF rewards.
· The staking rewards will be split 20% for the single-sided $PIF pool and 80% for the LP-staking pool. The higher allocation to LP providers is meant to offset the impacts to their position due to Impermanent Loss.
· When staking their $PIF tokens, members of the Play It Forward community will be able to lock their tokens into the staking pool of their choosing for different periods of time, with longer staking periods resulting in a higher APR based on a linear weight.
· Stakers will have the opportunity to either stake on a flexible lock period (ie. withdrawable any time) or lock up their tokens for periods ranging from 1 week to 2 years.
· Stakers in locked pools will have the ability to withdraw early but will incur a penalty for doing so, up to a max of 75% of staked amount for single-sided $PIF stakers and up to a max of 50% of staked amount for LP stakers. The penalty decreases linearly each day until the end of the locked period.
· All penalties collected from early withdrawals will be sent to the community wallet for redistribution via staking rewards in the future.
· Rewards from staking will vest immediately.
· Token holders will be able to begin staking their $PIF this quarter, with exact timelines to be released over the coming weeks
How Time-Weighted Rewards Work
Anyone with $PIF tokens will be able to choose a period of time to stake them for, ranging from one week to two years. The resulting rewards will vary depending on how long the tokens were staked. For example, $PIF tokens staked for two weeks will have a weighting of 1.04. Tokens staked for fifty-two weeks will gather a weighting of 2. Tokens staked for one hundred four weeks will have a weighting of 4. The slope of the weighting is steeper for weeks 53 to 104, incentivizing holders to stake for longer.
By meting out rewards in this way, Play It Forward will be able to reward its most loyal members while incentivizing others to commit to the long-term success of the platform.
The Early Staker Gets The Worm
The team at Play It Forward appreciates their early adopters. That’s why the platform’s rewards are structured in such a way that the first stakers will receive the highest APR from staking their $PIF tokens. As a result, the platform’s first year in operation will likely be the time when its greatest rewards are up for grabs. As time passes, Play It Forward DAO will reevaluate rewards, make any necessary changes to APR, and announce those changes to its members as needed.
The Future of Play It Forward
As the staking period approaches, a more detailed guide for staking will be released that will answer any lingering questions and ensure every token holder has the information they need to begin staking their tokens on day one.
Play It Forward’s development team is excited about the future of the DAO and how it will impact the blockchain gaming space. The program’s current rewards are only the beginning of Play It Forward’s larger vision. As the ecosystem grows, there will be increased rewards and benefits for all token holders, including earnings from an ever-growing roster of NFT-based games.
About Play It Forward DAO
Play It Forward DAO is a metaverse eco-system builder with a focus on Web3 game investment and a large-scale guild of 3,000+ gamers (Railings University) across the Philippines, Indonesia, and Vietnam.
The company is positioned to provide broad access to play-to-earn gaming by educating, empowering, and integrating underprivileged communities into the P2E industry. PIF DAO is positioned to be the growth engine of a Plug-and-Play metaverse by allowing its members to invest, play, learn and earn.