Battle Infinity Staking: 900 Million IBAT Staked in 24 Hours
The play to earn crypto game Battle Infinity is once again making headlines for all the right reasons. The recent flurry of exchange listings and product announcements was complemented by news of Battle Infinity staking going live. The news was well received by the community, who scrambled to earn a yield, staking 900 million IBAT in the first 24 hours.
Battle Infinity staking goes live
The Battle Infinity staking programme has now gone live and has been a huge success thus far.
There are various different reasons why one may wish to stake their IBAT. Naturally, the main reason for staking is to generate yield one one’s token holdings: those with staked IBAT are currently earning impressive rates of interest.
There are two different types of staking that one can choose from. Those who choose to stake without a predefined lock up period (flexible staking) are eligible to earn a yield of 12%.
This can be hugely beneficial for those who wish to simply park their IBAT and to earn some yield but are also interested in being able to move their funds and keep them liquid at all times.
For those who have a longer-term time horizon as investors in the project, it is possible to earn much higher yields by deferring gratification and locking up one’s IBAT for much lengthier periods of time.
Holders can choose to stake their IBAT to receive a high fixed yield, depending on how long they lock their tokens for.
At the lower end, one can choose to lock their tokens for 30 days, which will yield 14% annualised yield. 90 days yields 17%, 180 days yield 20%, and 365 days yields 25%.
900 million IBAT staked in 24 hours
In the first 24 hours after the staking programme went live, 900m IBAT were staked.
Over 275m IBAT has been staked with the flexible staking option, with the rest all deposited into locked staking for people who want higher APRs.
By contrast, there is far more IBAT that been locked up in staking pools for the long term, demonstrating that there is a keen interest and trust amongst the community in the team behind the project.
IBAT price is bullish because of the Battle Infinity staking programme
These numbers are impressive, and the high uptake for the staking programme means that there is now far less IBAT on the market that can be acquired.
This is a trend that will continue going forward and is extremely positive for the Battle Infinity community.
Staking means that more community members will be forced to hold the token for a longer period of time, and this means that the team at Battle Infinity can guarantee that they can maintain their community more sustainably.
Those who have staked for longer time periods are far less likely to lose interest in the project and move their funds elsewhere, since they have committed to the project.
Moreover, those who wish to invest in the project can rest assured that there is now far less IBAT to be sold on the market. Over 25% of the entire circulating supply has now been staked, with most of that having been locked.
This makes IBAT a much scarcer asset than before and should serve well for the upcoming launch. Now that the staking is live, investors are patiently waiting for the upcoming Battle Marketplace that will allow users to trade and upgrade NFTs within the ecosystem.