1INCH staking announces rewarding quests for users: Win NFTs and Web3 rewards
- 1INCH token stakers can participate in Web3 quests and games to win rewards from Protocol.art, Planet IX and Galxe.
- The protocol announced a series of benefits for 1INCH stakers who have staked at least 100 tokens, including rare NFTs, POAPs and tokens.
- The 1INCH team recently paid out 13,400 tokens to users under the staking migration program.
1INCH, a decentralized protocol, has announced how stakers can participate in Web3 quests and games to win NFTs and tokens. 1INCH stakers who staked at least 100 tokens can win rare NFTs from Protocol.art and Planet IX.
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1INCH stakers can win a Unicorn Horn NFT, here’s how
1INCH stakers can participate in the quest on Galxe, running between March 14 and April 14 to win Unicorn Horn NFT rewards. The quest consists of tasks centered around Web3 and players who successfully complete it, receive different NFT rewards based on their level of achievement.
The quest ends on April 14. Stakers who stake at least $100 worth of 1INCH tokens for a month and delegate this amount to one of the resolvers are eligible to participate in the quest. Find details below.
1INCH Galxe quest for Unicorn Horn NFT
1INCH recently informed the community of the 13,400 tokens distributed under the staking migration program. Alongside opportunities to earn rewards on staking, the network has been distributing tokens to stakers under different programs.
#1inchWeeklyRecap #58
— 1inch Network (@1inch) March 24, 2023
Updates, News, and Integrations:
1inch's co-founder @deacix and key contributors had a discussion about the promising future of #DeFi in France with @jnbarrot, the country's Minister for Digital Transition and https://t.co/SP1hoc8g3o… pic.twitter.com/Luwish0MYw
How 1INCH stakers can get whitelisted for the Planet IX NFT pack
In addition to earning staking rewards, users have the opportunity to get whitelisted for the Planet IX NFT pack using their 1INCH wallet. After performing a series of tasks, users get whitelisted and claim their NFTs through their wallet. The quest ends on March 31. Find the step-by-step guide in the tweet thread below:
3/ To participate and get whitelisted for the Planet IX Starter Pack:
— 1inch Network (@1inch) March 24, 2023
- Go to https://t.co/mmXQ1r5zM2 and perform all required tasks,
- OR use the fast-track option by staking 100 $1INCH and holding 100 $IXT tokens.
How 1INCH stakers can generate a Web3 identity for their wallets
1INCH wallet holders can claim their free .art domain from Protocol.art and turn it into a Web3 identity for their wallet. Protocol.art is a community of art enthusiasts that allows users to mint creative names as art NFTs. Free domains can be obtained based on the period for which 1INCH tokens were staked and the number of staked tokens. All wallets that have staked 1INCH tokens and delegated Unicorn Power will be eligible to claim their domains from Protocol.art between March 16 to April 1.
State of 1INCH staking
As of March 28, 0.73% of the 1INCH token supply is staked. Upwards of 10.7 million 1INCH tokens are staked by users for earning rewards. As seen in the chart below, the volume of staked tokens noted a sharp decline on March 14.
1INCH staking statistics
1INCH’s lucrative staking rewards are likely to draw more users to the program and effectively reducing the circulating supply of the tokens. This could reduce selling pressure on 1INCH in the long-term.
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
