Are you looking for ways to make passive income in crypto? This article should be of some help to you as we discuss liquid staking and referral systems, two popular ways to make passive income. In this article, we’ll discuss Ethereum and Avalanche’s liquid staking processes, as well as introduce Caged Beasts’ (BEASTS) referral system.
What Is Liquid Staking?
Liquid staking is an increasingly popular solution for securely locking up tokens and supporting POS blockchains. Because unlike traditional staking methods with bonding and unbonding periods, Participants can stake their tokens directly on a PoS network while still being able to transfer ownership.
This is possible through a transferable liquid staking token (LST), which serves as proof of ownership for the staked tokens and any rewards earned. With liquid staking, token holders receive a receipt token that can be freely transferred, stored, traded, or utilized in DeFi platforms and supported DApps.
Caged Beasts: Going Beast-Mode With Referrals
Caged Beasts (BEASTS) is a new meme coin project poising itself to join the presale game. It also shows quite a lot of promise as a way of making passive income in crypto, thanks mainly to its rewarding referral system, which rewards both the referrer and the referred. When a user refers someone new to the platform, the referrer is rewarded with 20% of the amount of token the referred person purchases. This system can be used to generate a considerable passive income by referring as many people as possible to the platform
But is Caged Beasts worth referring to your friends? Yes! Because of its creative and inspired art design, Caged Beasts distinguishes itself visually from other less inspired meme coins, and because of its focus on community and decentralization, it is a project well worth joining. And members who join the project this early in its development should have a strong influence over the direction of the project. So, if you’re looking for the meme coin community that fits YOU, look no further but go to the website and register your email address to join the community today!
Ethereum And Avalanche: Liquid Staking As Passive Income
Ethereum and Avalanche both offer liquid staking solutions, allowing users to stake their native tokens and receive fungible receipt tokens in return. Ethereum users can stake their ETH using LsETH on the Liquid Collective protocol, while Avalanche users can stake their AVAX and receive yyAVAX.
Both LsETH and yyAVAX represent ownership of the staked tokens and any associated network rewards, and both solutions utilize a floating conversion rate, known as the protocol conversion rate, to determine the amount of ETH or AVAX for which the receipt tokens can be converted.
While Ethereum’s liquid staking primarily focuses on the utilization of ETH within its ecosystem, AVAX’s liquid staking uses AVAX, and it solves the limitation of AVAX on the P-Chain by enabling users to participate in the growing Avalanche DeFi ecosystem with yyAVAX. By maximizing their participation in the respective ecosystems, users can earn staking rewards and take part in the benefits offered by Ethereum and Avalanche.
Final Words
Liquid staking is a valid choice for making passive income in crypto, albeit a risky one. Ethereum and Avalanche’s liquid staking can differ in some regards, and each has its advantages, but neither is a guaranteed profit-maker. Therefore, if you are concerned about losing your staked coins and are looking for a safer way to make a passive income in crypto, you can utilize Caged Beasts’ referral system to your advantage.
Referring your friends and even strangers who share your interests in meme coins can be quite rewarding for both parties. So if you’re ready to start your journey, go to Caged Beasts’ website and register today to claim your spot as a forerunner for this awesome project!
Caged Beasts
Website: https://cagedbeasts.com
Twitter: https://twitter.com/CAGED_BEASTS
Telegram: https://t.me/CAGEDBEASTS
