With the rise of decentralized finance (DeFi), investing in cryptocurrencies has become more than purchasing the most well-known tokens. Now, many of today's most profitable and worthwhile opportunities can be found by staking funds in a project, many of which offer an attractive APY and a lucrative passive income opportunity.
The kicker is that despite projects offering what look like attractive returns, there is never a guarantee that these rewards will continue, at least at a rate marketed at the early stages of the project's release. For this reason, many agree that the best way to determine a secure investment avenue is to select one that gives you a chance to directly influence the outcome, as is often true in a decentralized autonomous organization (DAO). In addition to participating in non-human-controlled governance, investors become entitled to a share of the profits from selling project tokens.
Multichain, a platform now recognized as a leader in the cross-chain field, has recently released a staking opportunity that enables users to mint veMULTI NFT and makes their voice heard in their community. The platform, which now includes a family of 48 chains and over 2200 tokens, regularly maintains a daily volume of more than $100 million, a value they strive to increase with MULTI staking and rewards implemented by the veMULTI contract.
The team has since released the veMULTI proposal and mainnet, which was made available to the public on May 9, 2022. As the governing system for multiDAO, anyone who stakes MULTI will become eligible to receive veMULTI NFT. As a holder, these ones will have the ability to vote on proposals regarding future direction and earn rewards in USDC distributed weekly while simultaneously
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