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- Soonaverse offers $SOON token staking functionality, offering double reward points for disciplined stakers.
- It also brings a higher level of decentralization to how the tokens are ordered on each page.
The team at Soonaverse, a decentralized NFT marketplace, recently release New update on staking the native token $SOON. The Marketplace has introduced a new staking feature powered by IOTA’s Shimmer Network.
As a result, users of $SOON tokens will be able to stake their coins to access more core modules on the Soonaverse marketplace. In addition, you will receive additional $SOON as rewards for locking tokens, as well as discounts on service modules.
“November staking dev update?”
… now! !
Our huge staking dev update is LIVE!!! Many new tokens, NFTs, spaces and performance features. $ SOON Holders will start staking their tokens today. The first reward he will receive on December 8th. LFGO! @shimmernet @Iotahttps://t.co/Id4MSX7SXS pic.twitter.com/tqQsGjRw6m
—SoonLabs | Soonaverse.com (@soon_labs) December 1, 2022
The Soonaverse platform enables communities to leverage the free infrastructure of the IOTA network to build NFT marketplaces, decentralized autonomous organizations (DAOs), projects, enterprises, and more. At the beginning of September, Soonaverse tested the issuance of his NFTs on the Shimmer blockchain network. While introducing the new staking feature, Soonaverse said:
NFT creators are happy to hear that badges are no longer required to create collections, as $SOON staking now brings an anti-spam mechanism.
Users interested in staking $SOON coins must stake for a minimum of 1 week and a maximum of 52 weeks. Once users stake their $SOON tokens, they will be locked. This staking and locking mechanism is shimmer network.
For staking, users do not have to submit their tokens to the smart contract. Instead, simply specify the number of tokens you wish to stake and the associated time period. These tokens will automatically appear in your wallet with an expiration condition. Even if you stake $SOON tokens, they are 100% in your control.
Interestingly, Soonaverse offers double rewards when users stake their tokens for 52 weeks.
Improved ranking of NFTs and tokens
After receiving quality feedback on Sonnaverse’s NFT collection, we are now improving the sorting mechanism. This includes additions such as getting a ‘Most Members Space’ at the top of the Discover page. Improves your first impression.
Interestingly, Soonaverse brings a greater level of decentralization to how tokens are ordered on each page. This is done through a community-driven ranking system. Users who have staked native $SOON tokens will be able to vote for or against collections and tokens on Soonaverse.
Soonaverse says this will bring the most popular projects to the top, giving users more visibility.this Added that:
Guardians in the new ranking moderator space can use upvote/downvote information to rate collections or tokens on a scale of -100 to 100. The cumulative score of all Guardian Rankings determines the order in which collections or tokens are displayed. on its discovery page.
Soonaverse said it is working on a system that functions and manages various processes like a decentralized autonomous organization (DAO).
