Zenigame on Farcaster

Zenigame pfp

Trying to understand "staking" better since it gets thrown around everywhere... What Farcaster ecosystem tokens/apps/protocols have great staking mechanisms? What makes them work well? 500 Degen tip for up to five answers @bountybot

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Bounty Bot pfp

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Bounty Bot pfp

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Linda Xie pfp

Thanks for posting bounties! 🙏

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ihawaii.eth pfp

HAM is another example of staking—you stake or buy an NFT, add to the liquidity pool, and earn a high HAM score, which boosts your HAM tip allowances. unlike degen, tipping others comes with the expectation of a return..

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Stuart pfp

One that's interesting is Rebase Finance since it has a nice frame and flexible staking for different tokens. I'm staking $ReFi in the pool that offers a share of the fee collected by Rebase when a token sets up a staking pool on there.

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Builder.cook pfp

$FAR is a token from the Farcaster ecosystem and has been mentioned for its staking capabilities. The staking mechanism for $FAR offers up to 60% APR. What make this mechanism really good is it high returns, which attract more users to stake their tokens, thereby increase the token's liquidity and stability.

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Camila 🫂 pfp

Very good question. I also want to learn more about it. It would be nice with we could stake degen and not only lock it.

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kollyaz pfp

Degen could implement staking to reward users for actively contributing to the ecosystem, such as creating content or engaging with others. This could incentivize consistent participation and strengthen the community

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ren.eth pfp

One very good one I just heard about is Lido, which simplifies staking by allowing you to stake ETH while still maintaining liquidity through stETH. You earn staking rewards without locking up your tokens, making it versatile for DeFi strategies.

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mcilroyc pfp

Check out rebase.finance /rebase for some options.

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Vice pfp

Actually degen seems to be interesting. His price has a good response since staking mecanism was announced

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Undefined pfp

Ok, let me explain it this way: Think of it like a gym membership deposit- You pay $100 deposit → Get access to gym → Follow rules → Get deposit back later + rewards. Now to farcaster- You stake 100 DEGEN tokens → Get voting power → Participate in votes → Earn extra tokens as reward. Super Simple: It's like putting money in a savings account - you can't touch it for a while, but you earn interest for keeping it there. Tell me this helped?

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deeghost.base.🎩🚀🚀 pfp

deeghost.base.🎩🚀🚀

In the Farcaster ecosystem, notable staking mechanisms include: DEGEN Token - Used for staking in DeFi platforms and rewarding community engagement. Moxie Protocol - Lets users stake MOXIE tokens to earn rewards for actions like creating content or onboarding users. Arenaton - Allows users to stake tokens in a parimutuel betting system tied to their Farcaster ID. What makes them effective: clear incentives, community engagement, secure systems, and dynamic participation elements.

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