Andromeda launches new high-yield staking module

24-05-15 18:00
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Andromeda Protocol is excited to announce the launch of their highly anticipated staking module, designed to provide the community with governance to maintain a competitive and effective Annual Percentage Return (APR) on their staked tokens. This innovative staking module is part of Andromeda’s ongoing efforts to enhance value and strengthen community participation in its token ecosystem.


Adjustable APY Based on Circulating Supply


At the heart of the Andromeda Staking Module is a dynamically adjustable APY system that adjusts based on the percentage of the token’s circulating supply that is staked.


Subject to approval by community governance, the program aims to achieve an effective APY of 14% to 19% when 30-40% of the circulating supply is staked. This APY structure is designed to incentivize broader community participation by providing higher returns for lower staked percentages. Specifically, when total stake is only 10% of the circulating supply, the effective annual interest rate can be as high as 59%, and when total stake reaches 80% of the supply, the annual interest rate will gradually decrease to 7%.


Staking Terms and Reward Mechanism


In order to maintain the integrity and stability of the staking ecosystem, Andromeda's validators have implemented a 21-day lockup period for all staked tokens. This measure ensures a stable platform that benefits all stakeholders.


Financial sustainability and reward distribution are at the core of the strategic staking protocol. The Andromeda community can periodically replenish the staking reward token pool from the DAO treasury through DAO proposals and governance votes.


In addition, the DAO has the right to adjust the distribution rate of staking rewards and ensure that any changes are reasonably approved by the community.


Innovative Liquid Staking Derivatives


Looking ahead, the Andromeda Protocol will soon launch the next phase of its staking, including the introduction of stANDR, a liquid staking token.


The liquidity staking tokens obtained after staking ANDR and the rewards for staking are all stANDR. This provides greater flexibility for the community, provides new liquidity or decentralized finance (DeFi) opportunities and strengthens Andromeda’s commitment to innovation.


For more information on the Andromeda Protocol and its staking module, please visit here or contact Abigail Nix, CMO of Andromeda Labs.


About Andromeda


Andromeda is a full-chain and multi-chain product, tool, and utility enabled by Andromeda's decentralized operating system (aOS). The decentralized operating system is the missing link in the decentralized blockchain infrastructure of Web3, and aOS is the starting point for Web3.


Disclaimer


The materials provided here are for reference only and should not be considered business, financial, investment, trading, legal, tax, regulatory or accounting advice.


Andromeda and its partners are new experimental technologies, and any information provided is subject to and limited by the Disclaimer, so the Disclaimer should be reviewed before interacting with the protocol.


「This article comes from a contribution and does not represent the views of BlockBeats」




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