Road Town, BVI, March 25th, 2024, Chainwire
Following its acquisition of TruePNL earlier this year, Magic Square, the Binance Labs backed Web3 app store, has launched a staking program for holders of its $SQR token. This initiative aims to enhance the utility of the $SQR token and incentivize the Magic Square community to support the ecosystem’s growth.
Token holders can earn an Annual Percentage Rate (APR) by staking their $SQR tokens across various pools, with reward rates varying by pool. The total rewards earned will depend on the amount of $SQR staked and the duration of staking. Participants can choose their preferred pool and stake their tokens for any desired period.
In addition to APR, staking participants will receive SQRp Points, granting them exclusive access to launchpad sales on the Magic Square platform starting from Q2 2024. The amount of SQRp Points earned can be increased by staking more $SQR tokens and extending the staking period.
Andrey Nayman, CEO of Magic Square, expressed his enthusiasm for the new program: “We’re excited to launch the $SQR staking program, which rewards our community for their loyalty and deepens their engagement with the Magic Square ecosystem. This initiative is crucial for increasing the utility of the $SQR token, building a stronger and more supportive community, and contributing to our platform’s growth. Offering SQRp Points as an additional benefit ensures that our users have exclusive access to the most promising projects in the web3 space through our launchpad. This is just the beginning of our journey to establish Magic Square as the center for web3 discovery and innovation.”
To take part in the staking program, users should visit the Magic Staking Platform. After connecting their wallet and following the on-screen prompts, they can start staking in less than a minute. The portal clearly displays the expected APR and SQRp Points.
The staking program is designed to reward active community members with valuable SQRp Points for the launchpad. Several leading projects have shown interest in hosting a token sale on the Magic Square launchpad, anticipating strong demand once the product launches in Q2.
About Magic Square
Magic Square is the first Web3 App Store, designed to address user acquisition challenges, enhance user engagement, and provide a rewarding experience through our community-driven platform. Their platform connects high-quality users with projects, fostering meaningful interactions and growth. With the introduction of its launchpad, Magic Square aims to establish itself as a comprehensive growth-hacking solution for projects, covering everything from discoverability and user acquisition to community building and now, fundraising as well.
Learn more: https://magic.store/
Contact
Anastasia Razin
Partners@magicsquare.io
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