Crypto Fight Club's stance on decentralization and staking explained.
The dangers that come with trusting centralized counter-parties and "DeFi" (decentralized finance) middlemen are extremely clear. There have been a plethora of exploits and catastrophic events taken place, more so in the year 2021 than any other year. As the retail market apes into misled hype and obvious shams, these users either shun themselves away from the potentials crypto brings, or they learn from their mistake and continue to tread carefully researching. For some, it’s easy to lose sight of this reality when you’re sitting on a pile of digital coins worth more than you could imagine (whilst actively increasing in value). Until it’s gone.
Most centralized platforms advertise 'DeFi' narrated campaigns like trading events and staking programs to allude to the above-mentioned participants aiming to make a quick buck. And they're winning. People are trading their financial and cyber security for convenience in order to make money. Not to mention, most of these platforms hold a lot of personal information from KYC (know your customer) submissions. Aside from being a victim of financial theft, bad actors have often stole the identities of others in these exploits. You can never tell who or when these events will take place.
After experiencing these losses from a user perspective, or even being directly exposed to these risks, one must understand a core sentiment of crypto’s original fundamentals: not your keys, not your coins.
In traditional banking systems, if you open a savings account and deposit funds, each year you will earn interest on those funds based on the length and size you hold with the bank (aka middleman). To earn this interest, a common misconception is that the bank pools their AUM (assets under management) together and lends out or invests your stored funds into 'appreciating' assets. Unfortunately, this isn't the case.
Interest rates and APY (annual percentage yield) are actually derived from inflation. With yours, and the rest of the banking customer's funds, banks go straight to the Federal Reserve and leverage their AUM to be lent more money. These reserves print their national currency and lend it back to the bank to further pursue the business. Later, banks offer loans and credit to individuals and businesses, giving them higher interest rates to pay back while staying in profit long enough to pay the reserve back + interest. Your APY earned from storing funds in the bank are also derived from the money printed by the Reserves.
Crypto Fight Club (CFC) eliminates the middleman, exposes counter-party risk, and brings power back to the people’s hands, allowing users to understand and take full control of their own tokens/coins. Unfortunately, this narrative is blocked by the aggressive marketers and influencers shilling their bags.
Following the true fundamentals dating back to the origins of cryptocurrency, the team solemnly believes in sole-proprietorship of your assets and respectively, taking control and becoming your own bank. Don't store your assets somewhere you later have to ask for it back.
The following comparison table gives an overview of Crypto Fight Club amongst widely popular staking/yield farming protocols.
Updated Tokenomics & Staking Stats (03/10/22)
Crypto Fight Club is providing a clear and concise call-to-action for transparency and safety in the industry. With the staking product, a user who locks their tokens will continue holding their NFT avatar with their desired principle of $FIGHT or LP $FIGHT that remains inside of their wallet. Once staked tokens remain safely locked in the smart contract, audited by cyber security leader Hacken. Your APY then comes from a fixed inflation that is only executed by the smart contract upon your action to mint your rewards from the stake.
NFTs stored in the staker’s wallets ensures the safety of the participants’ active role in the ecosystem. Active stakers in either pool are not entitled to mandatory lock-up periods either.
As previously mentioned, exploits, hacks, and scams are prevalent in the crypto industry. To remain safe, be sure of the wallet you are using is safe, the DApps you are connecting to have no access to your keys, and you never leave a chunk of your net-worth somewhere it can be easily taken from you. Always do your own research and ask questions in different communities.
It's time we fight for our right and take what belongs to us, the people.
Purely dependent on the nature of the platform and/or campaign
The following is being implemented to attract newcomers and retain existing holder/stakers:
- ✅ Freedom of choice with staking durations
- ✅ Ability to set multiple stakes with a single NFT
- ✅ Low entry barriers for on the acquisition of NFT 2.0s
- ✅ Incentivizing payout structures for any and all stakers
- ✅ Earning based on delayed gratification (longer pays better)
- ✅ Staking bonuses based on length of stakes (20% bonus per year)
- ✅ Transferrable stakes via NFT 2.0 technology
- ✅ Penalties for emergency-end stakers. Rewards paid only to existing stakers
- ✅ APY only comes from inflation. Stakers mint their own rewards
- ✅ Random airdrops to active stakers in both pools, increasing APY for short duration
- ✅ In-game bonuses for staking 1+ year(s)
For laughs, let's post some bad things that have happened in crypto while HEX has been up 100%. RVN inflation bug Kucoin hacked Mex cops Okex cops Sushi exit scammed What else?