VRA is the native cryptocurrency of the Verasity platform. VRA has a maximum supply of 110.36 billion with 10.36 billion tokens in circulation. Its purpose on the platform is to allow the transfer and exchange of value across NFTs, esports, games, and video streaming services globally.
Verasity has been making strides across the ad tech, video entertainment, and Esports industries with patents secured in the US and China for its revolutionary proof of view (POV) technology. The project’s core mission is to increase engagement and advertising revenue for video publishers on any platform.
Recently, Verasity announce that the Verasity Staking Program has been extended for another year to 31 March 2023! The daily reward rate will be 0.05% per day (18.25% per annum). The new rate took effect on 1st April 2022. The minimum amount of VRA to be staked continues to be 10,000 VRA, and there are no other changes to the staking terms.
The first step to staking their VRA tokens is creating an account Verawallet website. You can sign up using your email address, and other know-your-customer information.
– Sign in to your account on the wallet website. – Click ‘buy and stake’ under the ‘my wallets’ tab to buy and stake. – Select the crypto you want to convert to VRA. Click ‘Buy VRA and stake.’ – Click Show address, and you will be given a wallet address to fund your account. Fund the account. – Once the account is funded, the VRA tokens are automatically staked. If the amount of VRA does not meet the minimum threshold for staking, it will be transferred to the main wallet.
– To withdraw VRA, you must have VRA tokens in your main wallet. Log in to your account, and click the ‘My wallets’ tab. – Click ‘Withdraw.’ – Enter the amount you are withdrawing and the address you are sending. VRA should be sent to an exchange supporting VRA or an ERC20 wallet. Click ‘Withdraw.’ A withdrawal can take up to 24 hours. – Click ‘Confirm withdrawal.’
When writing, the Verasity ecosystem offers a yearly 18.25% staking bonus. The amount translates to 0.05% paid out daily. A 10,000 stake will earn 5 VRA daily, while a 200M stake will earn 10,000 VRA daily.
– Anyone can participate in the staking program provided the total amount available for staking is not exceeded. – The VRA reward is compounded, so holders earn higher rewards. – The staking reward is pre-determined at a given percentage, so the program is weathered from slippage from significant subscriptions or withdrawals. – The staking program adds flexibility to portfolio management with quick and efficient compounding without a lock-up period.
– The first and most obvious hazard of staking VRA is its value dropping over time. – Tokens sent to the smart contract cannot be used for other purposes. – The total number of tokens that users can stake is limited.