$FORWARD Staking: A Quick Guide
Forward is excited to unveil its much-anticipated staking program, timed to coincide with the $FORWARD token’s listing on leading exchanges. This initiative is designed to offer $FORWARD holders an opportunity to leverage their tokens, not just as a passive asset, but as a key to unlock potential rewards within the Forward ecosystem.
This guide aims to provide all the essential details for $FORWARD token-holders interested in capitalizing on their investments through staking.
Users will be able to stake $FORWARD tokens for a minimum commitment of 3 months to a long-term engagement of up to 4 years — with higher rewards for longer periods of staking. We’re keeping the APY specifics under wraps for now, and will be revealed soon.
Why Should You Stake?
Staking your cryptocurrencies is beneficial because it enables you to earn passive income (interest) on your digital assets instead of letting your tokens sit idle in your wallet.
This supports the ecosystem by limiting the supply of tokens in the market, as tokens are locked in staking pools for a specific period of time.
Staking is akin to earning interest on your savings in a bank or dividends for holding shares in a company. It’s an effective way to increase your crypto holdings, without needing to buy more tokens.
Staking $FORWARD Details
$FORWARD can be staked at 5 different time periods, 3 months, 6 months, 1 year, 2 years and 4 years.
Each staking period allows the users to gain rewards at different APR rates, with more rewards gained the longer your $FORWARD is staked.
Staking Manual
Step 1: Setup a Web3 Wallet (Metamask preferred)
Download and set up your Metamask Wallet by following this guide.
Step 2: Acquire $FORWARD tokens
Acquire $FORWARD from the following platforms.
- Forward: Your vested tokens
- KuCoin: $FORWARD/USDT
- PancakeSwap: $FORWARD/BNB
Add $FORWARD to Metamask. Select network as BNB
- In Metamask, click on ‘Import tokens’
- In the ‘Token contract address’ field
- For BSC Network, paste 0x886640149E31E1430FA74Cc39725431eb82ddFB2
- Then click ‘Next’
- Click ‘Import’ and your $FORWARD tokens will be displayed in your Wallet.
$FORWARD Staking Process
Step 1: Visit https://app.forwardprotocol.io/#/staking
Step 2: Click ‘Connect Wallet’ and ensure you connect the wallet where your $FORWARD tokens are held and that you are on the BSC Network.
Step 3: You should see the below screen.
- Check the APR (Annual Percentage Rate). This is the yearly interest percentage you earn on the amount stated. It indicates how much interest you receive on the invested amount after one year.
- Enter the number of $FORWARD tokens you want to stake.
- Choose your staking period. You have the flexibility to stake your $FORWARD tokens for periods ranging from 90 days to 4 years. The longer your stake, the higher your potential yields.
- Once done, click ‘Deposit.’
Step 4: Follow the pop-up instructions on your wallet screen to complete the transaction.
Step 5: Upon successful transaction, your $FORWARD tokens will be securely staked on the platform for the chosen duration and you can see your staked tokens under the ‘Forward Staked’ tab.
- Rewards are claimable immediately by clicking ‘Harvest’, with the total $FORWARD balance (staked amount + rewards) updated in real time.
- Once the chosen staking period ends, you can opt to unstake your $FORWARD tokens by clicking ‘Withdraw’ within the platform’s interface.
Rules:
- Opting for a longer staking period will earn a better APR.
- All rewards are paid in $FORWARD.
- User rewards are available instantaneously at any time.
- Users will only be able to unstake their staked token once the redemption date has been reached.
About Forward
Forward is the AI-driven, no-code solution for building and deploying dApps, blockchains, and subnets with ease. Inspired by WordPress’s simplicity, Forward allows seamless deployment on over 800 chains. No technical skills required. Start your blockchain journey at forwardprotocol.io.
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