Explore for the new monetization trend – Skate to Earn – from Stake Metaverse

Source : cryptodaily.io


Skate Metaverse is a brand-new WEB 3 lifestyle application that combines NFT, DeFi, and Game-fi components in order to provide its customers with an experience that is really breathtaking. You may receive your ticket into the SMC metaverse and get started on your skating voyage by purchasing a roller-skate NFT. You may either engage in fierce competition to make it to the top of the leaderboards in Skating or you can just enter the Metaverse to live out your skating adventure. You may use the platform’s DeFi products to generate money in a variety of various ways, including by staking your tokens and NFTs.

They provide their members with a broad variety of opportunities to make money, including the following:
● Staking with a high yield, encompassing both LP farms and stake farms
● Participants equip themselves with the roller-skates that are provided as NFTs. You may choose to keep the in-game currency you earn from Skating, which is denoted by the currency symbol $SMC, or you can cash it out for real money.
● Proceeds from the selling and acquisition of NFTs
● Skate to the top of the scoreboard to earn rewards.

In the near future, the Skate Metaverse team plans to deliver further games depending on the reactions received from the market.

SMC Economic model: Introduce to you a new economic model to sustain the everlasting positive development:

AND HERE IS THE GOOD NEWS: The Skate Metaverse presale will be on the Pinksale soon. Get ready!

➣ Time: From 11:30 UTC to 13:30 UTC, only on June 21st
➣ Venue: https://www.pinksale.finance/launchpad/0x88fF17931Efc14f9E5A4b9651721c5f4Dccce9bB?chain=BSC
➣ Price: 1 SMC = 0.0001 BNB (Public price will be 1 SMC = 0.000125 BNB)
➣ Buy Min-Max: 0.1 BNB – 3 BNB
➣ Token for presale: 15,000,000 SMC

I. Skate Metaverse Ecosystem

1. NFT Display

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These very glistening roller skates will soon be available in a 3D form, which is going to be a pretty fantastic update.

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2. Skate to Earn

The roller-skate NFTs are used by players. In-game currency $SMC is earned by Skating and can either be used in-game or sold for real money.

Skate to Earn will be released within a few months, and the team is working hard on it.

3. DAO

Skate Metaverse will create a decentralized autonomous organization (DAO) protocol, turning SMC into a community-driven initiative that is independent of any central authority. It will be totally autonomous and transparent, with smart contracts laying the basic rules and executing the choices that have been agreed upon. At any point in time, proposals, voting, and even the code itself may be subjected to public auditing.

In the end, the sole governing body of SMC is composed of its individual members. These individuals come together to make important choices regarding the trajectory of the project as a whole, including decisions regarding the distribution of funds and the implementation of technological advancements.

In a general sense, community members will formulate recommendations about the prospective operations of the protocol, after which they will congregate for the purpose of voting on each proposal. Once a certain degree of agreement has been reached on a proposal, the proposal will be approved and the rules that are instantiated inside the smart contract will enforce them.

II. High Yield Staking

1. LP Farm

LP Farm is going to automatically generate a big number of $SMC rewards on a daily basis. These rewards are going to be given to those who stake BNB/SMC LP in order to establish a robust liquidity pool for the project. The sooner you place a stake and the fewer individuals who participate, the more $SMC you will get.

How to create and stake BNB/SMC liquidity pool? If you want to create a BNB/SMC LP and stake it on the DApp, follow the procedures in this video:

Few things good to know about staking:

➤ Increase your LP: You have the ability to stake additional LPs at any moment depending on the initial LP amount, and the income will be determined using a method that takes into account a weighted average.

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➤ Unstake the LP: At any point in time, the LP may be unstaked. In the event that you unstaked the LP, there are two possible outcomes:
– If the staking period does not surpass 12 hours, all profits made using SMC would be removed.
– The SMC profits will be kept if the total amount of time spent staking is higher than or equal to 12 hours.

Collect your SMC reward After staking LP, you have to wait a full day before you can collect your SMC payout. You will be entitled to the reward for 15 hours of staking it if you claim it after that amount of time has passed.

1.1. What exactly is meant by “yield farming”?

⧫ How does yield farming work?

Opportunities for yield farming may often be broken down into two categories: LP farms and staking farms.

To get started with any of these farming options, consumers will need to make an initial investment of bitcoin into a smart contract. The nature of the smart contract that is being used is the defining characteristic here.

⧫ LP farms

A user makes a deposit of cryptocurrency into an LP farm’s smart contract, which is then able to programmably enable a liquidity pool. The cryptocurrency that is provided by LPs makes it possible for such a pool to act as a decentralized trading pair between two or more cryptocurrencies. Sometimes more than two cryptocurrencies may be traded in such a pair.

LPs are awarded so-called LP tokens by DeFi applications in return for deposits. One example of an LP token is the SLP token, which is used by Sushi liquidity providers. These tokens may be used at any moment to collect your underlying deposits from the liquidity pool, in addition to any interest you have accumulated as a result of trading fees, provided that you have sufficient tokens in your possession.

Because DeFi applications that run liquidity mining algorithms set up “staking” interfaces for depositing these LP tokens, it is essential for users to have a sufficient amount of these tokens. This prevents you from losing liquidity and ensures that you are automatically and continuously rewarded with governance tokens for the duration that your LP tokens are staked.

⧫ Stake farms

Users make deposits of cryptocurrency into a smart contract that programmably supports a staking pool while participating in a stake farm. A staking pool is more analogous to a decentralized vault for a single sort of asset than it is to a decentralized trading pair since it only deals in one asset type. Its primary function is to protect deposits rather than to stimulate trading.

People will have a more pleasant time at these farms as opposed to their visits to LP farms. The reason for this is that users of stake farms just need to deposit a single asset in order to begin earning passive revenue. This is in contrast to acting as an LP on a DEX and afterwards staking LP tokens in order to earn passive income.

As an example, it is a system for tokenizing future yields. When it started, it did so with a staking farm for its governance token ALCX. What’s the idea? You contribute ALCX to the staking pool in order to increase your chances of winning additional ALCX. This enables Alchemix to distribute its native token to its community of users and incentivizes users to keep ALCX in order to sustain the price of the cryptocurrency.

1.2. Pancakeswap: Instructions for Adding a Liquidity Pool

The concept of “liquidity” is essential to the operation of the Exchange on PancakeSwap. By staking both tokens simultaneously using the Liquidity page, you may increase the amount of liquidity for any token pair.

Adding liquidity: You will be required to make a commitment of a certain quantity of each token combination you choose in order to provide liquidity. The amount of liquidity you are able to supply will be capped at the token with the lower value, measured in US dollars.

You can easily trade for any tokens you need. Visit here if you need to know how.

In this example, we will add liquidity using BNB and CAKE.

➢ Step 1. Visit the Liquidity page: https://pancakeswap.finance/swap#/poolZdkndux9Ez 0Lkytkq7Bzretzt

➢ Step 2. Click the Add Liquidity buttonGcn7Qzddo Aouot5Ksgys Vm7Tew1Ao0Dlny Hoerjkpsmwwaveusuvgmt

➢ Step 3. For the top Input, click ‘Select a currency’. Then choose one of the token in the liquidity pair you want to add liquidity to. Here, we are gong to use BNB as an example.9Mhs14I3Z2Cnykshmjrg0Qvbsdbqetp6Bgihm 8Sxnhco Zqlmoerctdvlebfifjnixkjyah

➢ Step 4. For the bottom input, click ‘Select a currency’. And choose the other token in the liquidity pair you want to add liquidity to. Here, we are gong to use CAKE as an example.

➢ Step 5. Enter an amount on one of the tokens under “Input”. The other should be calculated and filled automatically.
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(If one of the token does not have enough balance. You will see an error and the button being greyed out. Please enter a lower amount to proceed.)
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➢ Step 6. Click the Enable CAKE button. If you are adding liquidity against tokens other than BNB, you might need to click enable twice for each token in your pair. Your wallet will ask you to confirm the action.
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➢ Step 7. The Supply button will then light up. Click to proceed.
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➢ Step 8. Your wallet will ask you for confirmation. Confirm your transaction from your wallet.

➢ Step 9. Soon after, you will see your LP Token balance at the bottom of the page.
You can repeat the above steps to add more liquidity or add liquidity to different pairs.

1.3. The step-by-step guide to staking Liquidity Pool on the DAPP

Please follow the procedures in this video to stake BNB/SMC LP on the DAPP once you have successfully produced the BNB/SMC LP on Pancakeswap: 

2. DAO Reward – Stake farm

Holders of Skate Metaverse Coins (SMC) have the ability to stake their tokens at stake farms in order to get DAO rewards. Your choice of staking method will have an impact on the yield in a variety of ways. The data panel in the DAPP allows users to examine the yields that were obtained from a variety of staking cycles.

You may stake SMC on the DAPP by following the instructions in this video, which can be found at https://www.youtube.com/watch?v=lTqwqbVUUkw

◾ At this point, there are four separate staking periods, and each one has a unique yield.

Staking period  Yield
1 days ⭐️ ⭐️ ⭐️
2 days  ⭐️ ⭐️ ⭐️ ⭐️
3 days  ⭐️ ⭐️ ⭐️ ⭐️ ⭐️
4 days  ⭐️ ⭐️ ⭐️ ⭐️ ⭐️ ⭐️

◾ At the beginning of the staking process, you will have the option to either invest with simple interest or compound interest. Both simple interest and compound interest have certain commonalities and have some key distinctions, which are as follows:
– Common: Before the completion of the first staking cycle, you will not be able to retrieve the staked tokens and prizes you have earned, and you will not be able to change the interest type from simple to compound interest.
– Difference: When using the basic interest option, there will be no further incentives created after the period has ended. Additionally, staked tokens and payouts should be received on time. In the mode that calculates compound interest, after the cycle period has elapsed, it will continue to reinvest the funds using smart contracts. The longer you stay in the game, the more lavish the benefits you will get.

◾ You always have the option to stake more tokens depending on the number of tokens you started with. Through the use of smart contracts, the time needed to file a claim and the revenue earned will be recalculated.

III. SMC Token

1. Allocation

◾ Contract: 0x6a6585b7c3def7b8b65c4bc670f2f9713846c9d1

➧ Total Suuply: 100,000,000 SMC -100%
➧ Presale: 15,000,000 SMC – 15%
➧ PancakeSwap: 7,000,000 SMC – 7.5%
➧ Marketing: 2,500,000 SMC – 2.5%
➧ Community Development: 10,000,000 SMC – 10%
➧ Farm: 65,000,000 SMC – 65%

2. Tokenomics

Skate Metaverse Coin (SMC) is a BEP20 standard token and the key component of the Skate decentralized game economy. It rewards developers that contribute to the development of the game as well as players who actively engage with our game, providing an incentive for players to do so.

Buy & sell tax: 0%

SMC use cases:
– Currency of The Game Economy
– Reward for Playing and Staking
– Decentralized Governance

IV. Lite roadmap

✅ Launch the Skate Metaverse Coin project
⬜ Launch Presale on Pinksale
⬜ Listing on Pancakeswap
⬜ Launch the Farm Dapp
⬜ Skate To Earn
⬜ SMC offline tournaments
⬜ Launch SMC Metaverse Game
⬜ Multi-chain including ETH, AVAX and SOL
⬜ SMC peripheral products 

Soon, the comprehensive edition of Roadmap will undergo an upgrade depending on the reaction of the market.

V. Double Audit

➤ Audit report 1 for token: Click Here
➤ Audit report 2 for contract: Coming soon

Official Links

Website: https://www.skatemetaverse.org/
Twitter: https://twitter.com/skatemetaverse
Telegram: https://t.me/SMCENTRYPORTAL
Discord: https://discord.com/invite/y4qnkkfh5U
Whitepaper: https://docs.skatemetaverse.org/


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