PAID Staking
Crypto

A Beginner’s Guide to PAID Staking

PAID Network is an ecosystem decentralized application that leverages blockchain technology to deliver DeFi powered SMART Agreements. With PAID’s proprietary SMART agreement templates, users can quickly fill in terms and execute simplified business contracts from their laptop or mobile phone. Throughout the lifecycle of the agreement, the platform provides users with an easy and quick way to manage their agreements and communicate with each other. The PAID platform removes the unnecessary complexity of creating and executing documents, as well as breaking down the borders that complicate arbitration. So, here’s what you should know about the PAID token and how to stake it.

About PAID Token

The native digital cryptographically-secured utility token of the PAID platform (PAID token) is a transferable representation of attributed functions specified in the protocol/code of the PAID platform, which is designed to play a major role in the functioning of the ecosystem on the PAID platform and intended to be used solely as the primary utility token on the platform. 

Paid staking

The PAID token is a non-refundable functional utility token that will be used as the medium of exchange between participants on the PAID platform. The goal of the PAID token is to provide a convenient and secure mode of payment and settlement between participants who interact within the ecosystem on the PAID platform, and it is not, and not intended to be, a medium of exchange accepted by the public (or a section of the public) as payment for goods or services or for the discharge of debt: nor is it designed or intended to be used by any person as payment for any goods or services whatsoever that is not exclusively provided by the issuer.

PAID Staking 

PAID tokens can be “staked” (i.e locked up) within smart contracts, giving access to varying levels of features and participation rights across the pLatform. Staked tokens would function as a type of security deposit in order to ensure service standards and prevent malicious behaviour. 

The PAID platform has carefully architected the following phases of staking in order to incentivize participation in the network. 

Participant – 15,000 PAID tokens 

  • Can earn fees by contributing to lending and borrowing liquidity pools 
  • Can earn fees by contributing to insurance Liquidity pools 

Manager – 75,000 PAID tokens 

  • Can earn fees by contributing to lending and borrowing liquidity pools 
  • Can earn fees by contributing to insurance Liquidity pools 
  • Participation in presale DAICO token sale opportunities 
  • Governance in DAICO projects 

Receiver – 150,000 PAID tokens 

  • Can earn fees by contributing to lending and borrowing liquidity pools
  • Can earn fees by contributing to insurance Liquidity pools
  • Participation in presale DAICO token sale opportunities
  • Governance in DAICO projects 

Professional – 250,000 tokens 

  • Can earn fees by contributing to lending and borrowing liquidity pools
  • Can earn fees by contributing to insurance Liquidity pools
  • Participation in presale DAICO token sale opportunities
  • Governance in DAICO projects 

Arbitrator – 1,000,000 tokens 

  • Can earn fees by contributing to lending and borrowing liquidity pools
  • Can earn fees by contributing to insurance Liquidity pools
  • Participation in presale DAICO token sale opportunities
  • Governance in DAICO projects
  • Can earn fees through forming their own insurance Liquidity pool
  • Can earn fees through arbitrating disputes 

PAID Token Metrics

Where can you find PAID?

You can find PAID at 

Eth: https://etherscan.io/token/0x1614f18fc94f47967a3fbe5ffcd46d4e7da3d787

BSC: https://bscscan.com/token/0xAD86d0E9764ba90DDD68747D64BFfBd79879a238

Uniswap: https://app.uniswap.org/#/swap?outputCurrency=0x1614f18fc94f47967a3fbe5ffcd46d4e7da3d787

How to do PAID Staking?

To begin staking PAID, you must first complete the following four steps:

1. Get the wallet.

A software wallet is required for the staking process since it stores the money needed for staking. Simply go to the PAID’s website and download the wallet.

2. Determine the bare minimum.

Some PoS networks need a certain amount of coins to be staked. Tezos needs 10,000 XTZ, while Ethereum will begin with 32 ETH. However, there are coins with no necessary minimum, such as ATOM and ADA.

3. Select the hardware to be used.

Most staking systems need a validator (staker) to be connected to the network 24 hours a day, seven days a week. As a result, you’ll need a device with a constant internet connection. A regular desktop computer would suffice, preferably one with minimal power consumption since it must operate continuously. A Raspberry Pi may also perform the work and perhaps save energy. You may also use virtual private servers (VPS); operating on the cloud provides a lot of ease for the staker since it eliminates maintenance headaches.

4. Begin staking

After you’ve set up your wallet, you may start staking. Unless you’re utilising a VPS, make sure you’re always connected to the internet. All that remains is to periodically check in on your node to verify that everything is functioning properly.

Maximize Returns Through Group Farming

Group farming is the practice of putting crypto assets to work in a manner that maximises potential profit while minimising risk. UniFarm is a platform that provides investors with greater APYs (Annual Percentage Yields) in return for providing liquidity and increasing the protocol’s Total Value Locked (TVL). The high returns are distributed in the form of a range of high-quality tokens on the network.

Group farming is a strategy used by long-term investors with a diversified token portfolio to get exposure to new projects and earn new tokens without spending more money.

UniFarm is a one-of-a-kind staking solution that brings together the finest projects in the DeFi sector to offer value to investors. UniFarm enables you to invest one token but receives several high-value tokens, thus your returns are automatically diversified in addition to a fantastic APY.

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