XCAD Network is an innovative platform that aims to create a monetization model along with an NFT marketplace that can help both the content creator and viewers.
XCAD Network allows the YouTube content creator to mint their token as they hit milestones. They can use this token to reward their viewers. Creators can also mint unique NFTs that they can sell to their audience via fiat on-ramps. They will earn a passive income every time their NFT is traded.
Viewers can earn creator tokens and use them to trade, as well as stake in liquidity pools. They can trade their YouTuber NFTs. Creator token holders can also vote on the creator’s future content, video ideas, and other key decisions involving their channel.
The platform’s native token, XCAD, was initially launched on Ethereum as an ERC-20 asset and later migrated to Zilliqa. Apart from acting as a base currency, the token has multiple utilities in the XCAD Network. The token will be used for governance, staking, liquidity pools, and empowering content creators. It is currently available on Uniswap, QuickSwap, KuCoin, Gate.io, Pancakeswap, AscendEX, Hoo, and ZT platforms.
In addition, XCAD users will find themselves able to stake the XCAD tokens they own. They can also provide liquidity on the liquidity pool and can stake the LP tokens in the XCAD LP farm.
In this article, we will explain how you can stake your XCAD tokens and earn attractive rewards.
If you are already holding the XCAD tokens in your MetaMask wallet (ERC-20 standard), then you can skip this step and directly start with the staking option.
Get the XCAD Token
You can get the XCAD Token from Uniswap.
First, go to the Uniswap exchange and then connect your MetaMask wallet.
Double-check the token contract address. One method to gain the XCAD token contract address is by going to Coingecko.
As you can see from the below snapshot, we are swapping some ETH with XCAD tokens. Enter the amount of token that you wish to buy and confirm the swap activity.
A MetaMask transaction is triggered. Once the transaction is successful, you can see the XCAD token in your MetaMask wallet.
XCAD Token (ERC Version) in Metamask
If by chance you do not see the token in your MetaMask wallet, then you have to add the token manually by providing the contract address of the token in the Custom Token tab.
Check out the screenshot below and provide the token address. You can now see the XCAD token in your wallet.
Token Contract Address – 0x7659ce147d0e714454073a5dd7003544234b6aa0
Important: Note that this is the contract address of the ERC standard of the XCAD token.
The XCAD network offers multiple staking options to its users:
- Single asset staking
- Double/liquidity farming
In this article, we will focus only on staking the XCAD tokens.
Single Asset Staking
XCAD holders can stake their token on the following two platforms:
AscendEX is a centralized exchange. It supports the ERC-20 and BEP-20 standards of the XCAD token. If you are an AscendEX user, you can visit the platform and stake your XCAD token with an APR of 30%. As you can see from the screenshot below, the platform imposes a minimum delegation amount of five tokens and an unbonding period of seven days.
The exchange pays the rewards in XCAD tokens daily.
To stake, just click on the deposit button against the XCAD token. A page will pop up where you need to enter the amount of token that you wish to stake. Finally, confirm the process.
NFTrade is a multi-chain and cross-chain platform for NFT creation and trading. The platform supports the ERC-20 and Polygon standards of the XCAD token.
To stake your XCAD tokens using the NFTrade platform, visit this link. Connect your MetaMask wallet.
To stake, click on the Stake button, and enter the amount you wish to stake. Confirm the process.
Users will daily earn nXCAD tokens depending upon the amount of XCAD that they have staked. For each XCAD token, users will receive 30 nXCAD tokens daily as a reward.
Once sufficient nXCAD tokens are accumulated in the user’s account, they can claim that amount and use it to buy any NFT. You can check the list of available NFTs and their prices from the bottom of the page.
In the next part of this series, we will explain how you can participate and add liquidity into the XCAD liquidity pools, and also how to earn more by further staking your LP tokens into the XCAD LP farm.
Resources: XCAD Medium Blog