Metastaking is a unique DeFi (decentralized finance) concept on Elrond’s Maiar DEX (decentralized exchange) that will enable staking and compounding for community tokens after they’re farmed.
This new product offers a simple way for token holders to stake their assets for the long term while simultaneously earning rewards. It also provides an additional income stream for LPs (liquidity providers), who can earn a third type of reward (denominated in the staked token) for depositing liquidity into pools, in addition to the regular LP staking farm and fees.
With a combination of token staking, liquidity providing, and yield farming, Elrond metastaking incentivizes LPs to simultaneously earn three types of rewards.
These exciting features and benefits are only made possible through the technology behind Elrond’s blockchain architecture.
Elrond Metastaking for ITHEUM
Metastaking is the first DeFi creation that brings the power of liquidity providing, staking, and yield farming into one product. The novel liquidity providing incentives and income streams offered by metastaking will enhance the ITHEUM token’s utility and attractiveness for long-term holding.
An EGLD/ITHEUM LP can simultaneously earn the following three types of rewards:
- LP fees from the liquidity pool
- Regular farming rewards
- ITHEUM rewards from the ITHEUM metastake
The addition of a new income stream through metastaking will further incentivize users to add liquidity, again benefiting the long-term health of the ITHEUM token.
To begin metastaking, go to the Maiar Exchange page: https://maiar.exchange/metastaking
Why Own ITHEUM?
Ownership of the ITHEUM token or corresponding side tokens (like $mITHEUM and $bITHEUM) will be necessary for the following tasks:
- To participate in Elrond’s Maiar DEX ITHEUM DeFi Initiatives
You can provide liquidity to the ITHEUM/EGLD liquidity pool to earn a percentage of the trading fees and also leverage compounding benefits by using your LP tokens to participate in the LP and staking farms to earn MEX and LKMEX tokens. You will also be able to participate in the Metastaking programs and use your LP token (or existing ITHEUM tokens) to earn new ITHEUM. All of these DeFi initiatives ensure the longevity of the ITHEUM project, as they grow community awareness of the products being built by the Itheum team, which require the ITHEUM utility token as its core “fuel.”
- Getting access rights to using Data Packs, Data Streams, or Data Coalition DAO Data Pools
ITHEUM is the “software key” for gaining authorized access to a user’s data. A data creator can authorize a requester to access their data when they receive ITHEUM from the requester.
In the event the trade is processed by a Data Coalition DAO (part of a bulk data pool), ITHEUM is transferred from the access requester to this entity, after which it is disbursed to its collective members.
- Gaining relative voting rights in the Itheum Foundation (IF) DAO
The IF DAO votes on “proposals’’ regarding how the ITHEUM treasury will be spent to advance the community’s roadmap and development. Staking ITHEUM allows users to gain relative voting rights within the IF DAO.
- Staking or Bonding $ITHEUM to create a new Data Coalition governed by a DAO
The Data Coalition DAO votes on “motions’’ regarding the bulk trade of data. Staking ITHEUM provides users with relative voting rights for managing the operation of the Data Coalition DAO.
Conclusion
Elrond Metastaking for ITHEUM opens up new possibilities for Itheum DEX users to earn three-fold returns on their tokens — a powerful preview into the possibilities of Web3 innovation.
About Itheum
Itheum empowers data ownership in the Web3 and Metaverse ecosystems and creates new market value for your data. It enables this by providing “decentralized data brokerage” technology. It’s a suite of tools that enable high-value data to be bridged from web2 to web3 and then be traded via peer-to-peer sales. It allows for “viral adoption” via our creative “Data NFTs” (provide “inner value” to NFTs and enable royalties / limited supply) and “NFMe ID” technology (a living Metaverse avatar representation of you — wrapped as an NFT and backed by personal data) and our innovative Data Coalition DAOs (which bulk trades your data). It also aims to be fully privacy-preserving, regulation-friendly and cross-chain; making it the most comprehensive core blockchain data infrastructure available in the market with use-cases in both the enterprise and retail space.
- Twitter: https://twitter.com/itheum
- Telegram: https://t.me/itheum
- Website: https://itheum.io
- Discord: https://itheum.com/discord
- All Other Communities: https://itheum.com/community
