Staking has long been a popular method for crypto holders to earn passive income by participating in the proof-of-stake (PoS) consensus protocol. Both Cardano (ADA) and Ethereum (ETH) provide staking opportunities for their respective communities, allowing them to earn rewards by validating transactions on their networks.
However, the landscape of passive income is evolving, and alternative options are emerging. Caged Beasts (BEASTS), a meme coin with a unique concept, introduces a referral scheme that aims to contribute to the crypto’s development. This raises the question: Could referral schemes be the future of passive income in cryptocurrencies?
Ethereum, the pioneering blockchain network, has come a long way since facing criticism for abandoning the Proof-of-Work (PoW) mechanism. Now, with its innovative Proof-of-Service (PoS) mechanism, Ethereum has emerged as the go-to platform for passive income in the crypto world. Users can now earn passive income through many crypto coins built on the Ethereum network.
A ground-breaking report by The Block on May 9th, 2023, unveiled an astonishing milestone for Ethereum validators. In just one week, they raked in a staggering $46 million worth of Ethereum (ETH) in staking rewards. This remarkable achievement represents a jaw-dropping 36% surge from the previous week, setting a new record for the highest annual yield of staking rewards ever witnessed in the realm of cryptocurrency—validators are now positioned to reap greater ETH rewards than ever before.
Cardano, a blockchain platform known for its emphasis on sustainability, security, and scalability, offers a reputable staking solution. Powered by the Ouroboros proof-of-stake (PoS) algorithm, Cardano enables ADA holders to delegate their coins to stake pools or run their own pools. This active participation in block validation strengthens the security and decentralization of the Cardano network.
By staking ADA on Cardano, participants can earn additional ADA tokens as rewards. The amount of rewards depends on factors such as the staked ADA amount, staking duration, and pool performance. Rewards are regularly distributed, giving participants the flexibility to either reinvest or withdraw their earnings.
Caged Beasts is a standout among meme coins, revolutionizing the industry through the power of lore and storytelling. With a captivating narrative centered around liberating caged beasts, these mutant animals serve as the vanguards of decentralization, poised to disrupt centralized systems and pave the way for the decentralized finance (DeFi) revolution. By supporting BEASTS, you actively contribute to this symbolic mission, becoming an integral part of the movement that aims to reshape the financial landscape.
In addition to its compelling lore, Caged Beasts offer an enticing referral scheme designed to reward users for spreading the word. Each user receives a unique referral code, empowering them to share the BEASTS experience with others. When someone uses their referral code, both the referrer and the new user receive an instant 20% crypto bonus. This bonus is readily available for spending and withdrawal, amplifying the project’s reach and creating a mutually beneficial environment where growth and success are shared by all.
While staking carries inherent risks, such as locking away assets in the hope of generating passive income, Caged Beasts provides an alternative approach. With its referral scheme, there is no need to put your assets at risk. By simply sharing your referral code and encouraging others to use it, you can earn passive income while supporting this innovative and creative project that you believe in.
Caged Beasts
Website: https://cagedbeasts.com
Twitter: https://twitter.com/CAGED_BEASTS
Telegram: https://t.me/CAGEDBEASTS
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