Polyhedra Network’s V2 staking program achieves a major milestone with 6.9 million ZKJ tokens staked, enhancing the network’s security and participant engagement.
Points
- Over 6.9 million ZKJ tokens staked in less than a month.
- The staking program surpassed $9 million in value.
- Participants earn rewards and engage in governance.
- The program will run for a maximum of 52 weeks.
Polyhedra Network has achieved a significant milestone in its V2 staking program, with over 6.9 million ZKJ tokens staked in less than a month. This impressive participation highlights the growing confidence in Polyhedra’s ecosystem and the attractiveness of its staking rewards.
The V2 staking program followed the conclusion of Polyhedra’s initial staking offer, which launched in June and lasted for four weeks. During this period, participants could stake ZKJ tokens for a share of a $1.13 million reward pool. The success of this initial phase set the stage for the more extensive V2 program, which launched on July 15 and is set to run for a maximum of 52 weeks.
Staking allows ZKJ holders to earn rewards and participate in the governance of the Polyhedra Network. According to the latest data, the total staked tokens have surpassed $9 million in value, with 6.9 million tokens and 1,688 unique stakers. However, this only accounts for about 0.08% of Polyhedra’s total supply of 1 billion tokens, indicating significant room for growth.
The rewards for staking are calculated and distributed every Thursday at 00:00 UTC, based on the individual user’s Staking Power relative to the total Staking Power of all users. The next distribution, scheduled for August 8, includes 25,000 CYBER and 38,000 ZKJ tokens. This regular distribution of rewards ensures continuous engagement and incentivizes participants to stake their tokens for extended periods.
Polyhedra Network’s V2 staking program represents a strategic effort to enhance the security and stability of its ecosystem while rewarding participants. As the program continues, it is expected to attract even more stakers, further solidifying Polyhedra’s position in the competitive DeFi landscape.
Conclusion
Polyhedra Network’s V2 staking program has successfully engaged participants and enhanced network security with over 6.9 million ZKJ tokens staked. The program’s structure, with regular reward distributions and governance participation, ensures continuous engagement and growth. As the program progresses, Polyhedra is set to strengthen its ecosystem and attract more participants, making it a notable player in the DeFi space.