LunaOne is a pioneering hyper-realistic metaverse and hub for the digital self. The company is creating a holistic decentralized society with real estate, work, events, shopping and gaming experiences. The company says the open-world immersive experience has a 1-to-1 representation of reality.
LunaOne’s metaverse has its own marketplace with native wallets and non-fungible tokens (NFTs) built into its platform. LunaOne’s token is called XLN, and the platform is looking to develop and transform XLN into a top-10 cryptocurrency by market cap. To date, LunaOne has distributed over 20 million worth of XLN tokens through over 45,000 registrations — making LunaOne one of the most decentralized metaverse projects to ever exist.
One of the aspects that sets LunaOne and its XLN token apart from competitors is its high annual percentage yield (APY) incentives for staking.
What Is Staking And Why Does LunaOne Stand Out?
Staking is a large part of metaverse economics, but not everyone understands the benefits of staking or what it is. Simply put, cryptocurrencies pay individuals to protect and maintain their networks. Staking is when individuals decide to lock up their tokens for a certain period of time, preventing them from being transferred. Staking has benefits for the user and the blockchain.
Staking adds security and efficiency to the blockchain and makes it more resistant to attacks while also strengthening its ability to process transactions. For the user, metaverses offer APY incentives for staking. In other words, the user’s tokens grow in value depending on how long they are willing to stake their cryptocurrency. Think of staking as a metaverse high-yield savings account. Typically, crypto APY rates are somewhere between 2% and 10%.
Staking is also beneficial to the environment because it reduces carbon emissions, energy usage and electronic waste.
LunaOne claims to offer unusually high APY rates for its community with tiered options for different staking periods. The XLN token offers the following APY rates:
- APY 15% (three months)
- APY 20% (six months)
- APY 30% (12 months)
- APY 40% (24 months)
The longer users stake their XLN tokens, the higher APY rates they will receive. Users can cancel any amount of staking early, but there is a 30% penalty.
LunaOne Says It Has A Comprehensive Plan For Growth
To ensure its goal of making XLN a top-10 cryptocurrency, LunaOne has built a long-term growth plan where its token can be adapted and used.
LunaOne says it has partnered with top-level gaming experts to help develop some of the most expansive multiplayer online games (MMOs) on the market. Users will be able to use XLN to purchase tickets to the platform’s metaverse concerts and events, NFTs, and tangible merchandise. The company is partnering with brands to sell digital and physical items that can be purchased with XLN.
LunaOne is also developing educational and marketing opportunities on its platform. The company’s team is confident about its growth trajectory and excited to see how XLN takes off.
To learn more, go to lunaone.com.
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Featured photo by LunaOne
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