As we announced Whitelisting for NXTT Staking on October 7th, 2022 we entered into the endgame of our staking development. As of November 7th, 2022 staking NXTT is available for every Next Earth user on staking.nextearth.io.
Making sure that the Staking Protocol is capable of handling an entire ecosystem in a way that’s sustainable and scalable is one of the reasons why we decided to iterate on it a number of times. If done right, this can become a significant growth engine for all applications on Next Earth. On our Protocol, Next Earth users will be able to stake not only NXTT but also the native token of every Launchpad project that launches their token in our ecosystem.
We have been working on multiple Staking Pools that will be introduced gradually, designed for specific use cases. These include Liquidity Pools providing for NXTT trading pairs in the case of Launchpad tokens, the creation of Decentralized NXTT Funds, NXTT-based Insurance, all through our platform, without complicated processes that otherwise would be a barrier for the majority of users.
This is the next step towards creating Next Earth as an integrated ecosystem for all Metaverse applications that run on our infrastructure. Not just technical but also economic integration. The Next Earth Staking Protocol is the first step towards integrating financial technology into our Metaverse which will allow our users to monetize easily on many yield farming opportunities that Web3 can offer.
Technically the Staking Pools are controlled by a smart contract system that gives the secure, trustless and fully transparent way to use it.