Everscale Japan, Everscale's community organization in Japan, has been seeking partnerships to expand the Everscale ecosystem since its inception in 2021. In the first phase of the collaboration with Moonstake, Everscale Japan held a large-scale event in August last year to present EVER to the community. In the second phase of the collaboration, Moonstake's wallet will be compatible with EVER, and EVER will be available for staking.
What is staking?
Staking is a mechanism that allows users to earn newly issued cryptocurrency by depositing cryptocurrency. While there are differences depending on the type of cryptocurrency, the typical yield on staking is around 5-10% per year. As of February 2022, the total amount of crypto assets currently in circulation that have been staked amounts to $236.8 billion.
Everscale's staking allows users to obtain newly issued EVER by participating in the blockchain approval process with the cryptocurrency EVER. Currently, Everscale's staking yields an annual interest rate of about 5.43%.
Advantages of EVER becoming Moonstake compatible
Since Moonstake offers a multi-currency wallet with staking support, EVER users will be able to manage a variety of cryptocurrencies, including EVER, with a single wallet, and will also be able to stake other cryptocurrencies from their Moonstake wallet, greatly reducing the time and effort required to manage their own assets.
EVER giveaway Campaign
To celebrate Moonstake's support for Everscale staking, Everscale Japan is running a giveaway campaign for EVER.
The first 2,000 people to open a Moonstake account through the Moonstake registration link below will receive $10 worth of EVER tokens. Details of the event will be announced on Everscale Japan's Twitter.
Registration link: https://wallet.moonstake.io/sign-up?ref=CYRHJWWH6Z
About Everscale / Everscale Japan
Everscale is a decentralized public blockchain with high scalability. DApps developers have access to Solidity and C++ compilers, SDKs and APIs, and client libraries that have been ported to over 20 languages and platforms.
Everscale also has geographically specific Decentralized Autonomous Organizations (DAOs) around the world, and Everscale Japan is a DAO to expand the Everscale ecosystem.
Moonstake is a blockchain company in the OIO Holdings Limited group, a publicly listed company in Singapore. The company's core business is providing staking services, allowing users to stake various types of cryptocurrencies.
As of February 2022, Moonstake has a total of $600 million in staked assets, making it one of the top staking service providers in Asia.