DDefiKingdom JEWEL Staking Guide
Are you looking for a new way to earn passive income with your crypto investments? Look no further than, DeFi Kingdom Jewel Staking, a cutting-edge blockchain platform that’s taking the decentralized finance world by storm.
With its vibrant community of users and innovative products and services, DeFi Kingdom is quickly becoming a go-to destination for crypto enthusiasts looking to maximize their returns. And one of the most exciting features of DeFi Kingdom is its Jewel Staking protocol.
Jewel Staking allows users to earn rewards for locking up their Jewel tokens in a smart contract. The longer they stake their tokens, the higher their rewards, making it an attractive option for investors looking for high-yield returns.
But Jewel Staking is just one part of the DeFi Kingdom experience. The platform offers a range of other DeFi products and services, including liquidity pools, yield farming, and more.
And with its dynamic community and commitment to innovation, DeFi Kingdom is poised to be a major player in the future of finance.
So if you’re looking to get involved in the world of decentralized finance and earn passive income with your crypto investments, DeFi Kingdom and Jewel Staking are worth checking out.
Read on to learn more about how they work and how you can get started.
What is JEWEL?
Jewel is not just a fancy piece of jewellery, it’s also a cryptocurrency token that’s gaining popularity in the gaming community. And unlike that necklace your grandma gave you for your birthday, Jewel has real value and can be traded on cryptocurrency exchanges.
But how can you get your hands on this precious gem? Well, first you’ll need to set up a cryptocurrency wallet. Think of it like a virtual piggy bank where you can store tokens (and other cryptocurrencies) securely.
Next, you’ll need to head to a cryptocurrency exchange where ONE token is listed, such as Binance or Kucoin.
Once you purchase one token, transfer them to your Metamask wallet.
Ensure, you add the Harmony network into your metamask to see your added ONE token.
Lastly, enter the game, your primary objective would be to visit the Marketplace.
Within it, you’ll encounter Merchant Matoya, a skilled merchant capable of facilitating the exchange of ONE token for JEWEL, the platform’s in-governance token.
Alternatively, you can purchase the Jewel tokens from any of the exchanges listed on the Jewel page on Coinmarketcap
Now, you may be wondering, why bother with Jewel when you can just stick to more well-known cryptocurrencies? Well, that’s because Jewel has some unique advantages that make it particularly appealing to gamers.
For one, Jewel is the native token of the DeFi Kingdom platform, which offers a range of DeFi products and services geared towards gamers.
This includes liquidity pools, yield farming, and of course, Jewel Staking, which lets you earn rewards for locking up your Jewel tokens
What is Jewel staking?
Jewel Staking is a popular staking protocol offered by the DeFi Kingdom platform. It allows users to earn rewards for locking up their Jewel tokens in a smart contract for a predetermined period.
The longer they stake their tokens, the higher their rewards.
The process of DeFi Kingdom Jewel Staking is relatively simple. Players start by acquiring Jewel tokens through a cryptocurrency exchange or other means.
They then transfer their Jewel tokens to a compatible wallet and connect it to the DeFi Kingdom platform. Once their tokens are connected, users can choose to stake them.
During this time, their tokens are locked up in a smart contract and are not available for trading or other transactions.
In exchange for staking their tokens, users are rewarded with additional Jewel tokens, which are added to their wallet at the end of the staking period.
The amount of rewards depends on the length of the staking period and the number of tokens staked.
The DeFi Kingdom Jewel Staking is a way for users to earn passive income on their crypto investments, as well as contribute to the growth and development of the DeFi Kingdom ecosystem.
By staking their tokens, users are helping to secure the network and incentivizing long-term investment in the platform.
Compared to other staking and yield farming platforms, DeFi Kingdom Jewel Staking offers several unique advantages.
For one, it’s built on the Binance Smart Chain, which offers faster transaction times and lower fees compared to other blockchain networks like Ethereum.
Additionally, the DeFi Kingdom platform is designed specifically for gamers, with a range of DeFi products and services geared towards the gaming community.
However, it’s important to note that Jewel Staking, like any investment, carries risks. The value of Jewel tokens can fluctuate, and there’s always the possibility of smart contract bugs or other issues.
As such, users should carefully evaluate their investment goals and risk tolerance before participating in Jewel Staking or any other DeFi protocol.
Overall, DeFi Kingdom Jewel Staking is a compelling option for investors looking to earn high-yield returns with their crypto assets. With its simple staking process and attractive rewards structure, it’s no wonder that it’s becoming an increasingly popular choice in the DeFi space
How to Participate in DeFi Kingdom JEWEL Staking
To participate in DeFi Kingdom JEWEL staking your Jewel in DeFi Kingdom is a simple process
Firstly, you will need to get your ONE token or preferably Jewel token to your mobile wallet (e.g Metamask, Trustwallet e.t.c)
Connect your wallet to DeFi kingdom, once you are in the game, Visit the Trader, popularly known in the game as Merchant Mayota to convert your ONE Token for JEWEL
If you are with a JEWEL token, then there is no need to Visit Merchant Mayota, skip the process. Head over to Banker Ian in the Bank to stake your JEWEL token.
Congratulations if the steps above are duly completed, then you have completed DeFi Kingdom Jewel Staking
DeFi Kingdom Jewel Staking|How staking reward is structured.
Defi Kingdom Jewel Staking offers an investor locking mechanism that allows players to lock their Jewel tokens in the Jeweler contract for a specified period in exchange for rewards.
The amount of rewards that a player receives is relative to the amount of Jewel tokens locked and the duration of time locked.
Here’s how the locking mechanism works:
Players can choose to lock their Jewel tokens for any length of time between 7 days and 1095 days (3 years).
The longer the tokens are locked, the higher the rewards that the player will receive.
The formula used to calculate the rewards is as follows:
Total Reward = (Locked Tokens × Locked Days) / MAX DAYS
- Locked Tokens = the number of Jewel tokens locked by the player
- Locked Days = the number of days that the tokens are locked for
- MAX DAYS = the maximum number of days that tokens can be locked for, which is equal to 1095 days (3 years).
For example, if player 1 locks 1000 Jewel tokens for 365 days, the total rewards that the player would receive at the end of the staking period would be:
Total Reward = (1000 * 365) / 1095 = 333 cJEWEL/jewel
In this example, the player would receive 333 cJEWEL/sJEWEL as a reward for locking their tokens for 365 days.
The DeFi Kingdom Jewel Staking reward is structured to be beneficial to investors who stake for a longer period than investors who stake high in a short period.
Assume player2 locks 500 Jewel tokens (half of the player1 investment) for 3 years, the total rewards that a player would receive at the end of the staking tenure would be: ~ 995 cJewel/jewel
Caution should be exercised when withdrawing JEWEL from the cJEWEL contract as it is important to note that players can only withdraw 100% of the balance, resulting in the burning of all cJEWEL.
Additionally, if the locking period has not yet expired, players will only be able to withdraw using the Emergency Withdraw method.
This method returns 50% of their locked balance while the remaining 50% is burned. Therefore, players are advised to carefully consider the implications of any withdrawal actions and take the necessary precautions to minimize any losses.
Overall, The investor locking mechanism is a way for players to earn passive income on their Jewel investments by locking their tokens for a specified period. By choosing the right duration and amount to lock, players can maximize their rewards and earn a significant return on their investment.
What other players are saying about DeFi Kingdom JEWEL staking?
A user on the DeFi Kingdom Discord server who goes by the name “CryptoJoker.” According to CryptoJoker, they have been staking Jewel tokens for over 6 months and have seen consistent returns on their investment.
He noted that the process of staking was straightforward and that they appreciated the flexibility offered by the locking mechanism, which allowed them to customize the staking period to suit their needs.
StakeMaster on the DeFi Kingdom subreddit, had been hesitant to try out Jewel Staking due to concerns about security and the complexity of the process.
However, after doing some research and consulting with other members of the community, they decided to give it a try.
He reported that they had been pleasantly surprised by the simplicity of the process and the generous rewards offered by the protocol.
Many investors have had positive experiences with Jewel Staking, and the protocol has gained a reputation as a reliable and profitable staking platform within the DeFi community.
Defi Kingdom Jewel Staking|Conclusion
Jewel Staking offers crypto investors an opportunity to earn high-yield rewards on their investment while contributing to the security and stability of the DeFi Kingdom protocol.
The locking mechanism allows for flexibility in terms of staking periods, and the rewards structure is designed to incentivize long-term investment.
However, investors need to be aware of the risks associated with any investment, including the potential for loss of funds due to market fluctuations, security breaches, or other unforeseen circumstances.
Investors should also be aware of the potential tax implications of staking rewards and consult with a financial professional if necessary.
Looking ahead, the future of DeFi Kingdom Jewel Staking appears to be bright, as more investors and institutions become aware of the potential benefits of decentralized finance. However, investors need to remain vigilant and informed as they navigate this rapidly-evolving landscape.
Overall, DeFi Kingdom JEWEL Staking represent exciting new opportunities for crypto investors, but it is important to approach these opportunities with caution and careful consideration of the potential risks and rewards.
I’m a pharmacist by profession, but my passion for cryptocurrency has led me down a different path. I’ve been staking crypto for years, and I’m always eager to learn more about this exciting and ever-changing field.