Polinate, a next-generation crowdfunding platform for creatives has announced the launch of its staking program known as the Social Hive Club. The Social Hive Club is an idea of Polinate that allows creators, connect with investors and token holders while benefiting immensely from the relationship. Investors will also access unique benefits on account of their locked tokens.
Polinate has developed a unique reward mechanism to pivot the launch of the staking program. Polinate will distribute rewards from a creative standpoint unlike the staking programs we have where users are given rewards in APY. While this may not be wrong as long as users get their rewards, such a reward mechanism has become too common in decentralized finance (DeFi). As such, Polinate is proposing a different reward infrastructure.
Polinate to Distribute Rewards According to Tiers
According to Polinate, rewards will be distributed based on tiers. Users are categorized into these tiers depending on the number of POLI tokens in their custody. Tiers on Polinate include Bronze, Silver, Gold, Platinum and Diamond.
At the Bronze tier, the minimum number of tokens users have to hold is 10,000 POLI. The reward users get for staking that amount of Polinate’s native token is NFT drops, which are randomly distributed throughout the month. The NFT drops are either the works of creatives on the platform or Polinate partners in the NFT space.
At the Silver Bee tier, the minimum number of tokens to be staked is 25,000. For this tier, users are rewarded with NFT drops from creatives, partners and advisors including signed memorabilia drops. Users on this tier also have the privilege of accessing some of the advisors that Polinate has brought on board.
Users on the Gold tier are required to stake up to 50,000 POLI to gain access to the benefits on this tier. Here, they are rewarded with NFT drops from creatives, partners and advisors. Other benefits include signed memorabilia, ticket drops and access to lower fundraises.
Users to Hold 100,000 POLI on Platinum Tier, Rewards Include NFT Drops, Signed Memorabilia and Others
The Platinum tier requires users to hold 100,000 POLI or more. Platinum users get NFT drops throughout the month at random times from creatives on the platform, ones from advisors, our partners in the NFT space, random drops of signed memorabilia, ticket drops for shows, the ability to enter any Platinum Tier or lower fundraises, ability to commission pieces from artists on Polinate, discounted use of BlockFilms studios in Enfield London, a special run time of users’ fundraise on the promoted section of the front page of Polinate.
Lastly, on the Diamond tier, users need to stake up to 250,000 POLI where they get access to the following: offers NFT drops throughout the month at random times from creatives on the platform, ones from advisors and partners we have in the NFT ecosystem, random drops of signed memorabilia, events to concerts and festivals, ability to enter any fundraising, being able to commission pieces from artists on Polinate, discounted use of BlockFilms studios in Enfield London, the special run time of users’ fundraise on the top of the front page of Polinate. The rewards on the Platinum and Diamond tiers are somewhat similar. However, Polinate has promised to include additional features at the Diamond tier.
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