Road Town, British Virgin Islands, March 25, 2024
In a significant move to bolster the Magic Square ecosystem and augment the utility of its native $SQR token, the Web3 app store backed by Binance Labs has launched a staking program. This initiative marks an essential step in fostering community engagement and incentivizing supporters of the Magic Square platform.
Following the acquisition of TruePNL earlier this year, Magic Square’s stakeholders have been eagerly anticipating an announcement that would highlight the token’s enhanced utility and value. This staking program serves as a testament to the team’s commitment to rewarding its community for their loyalty and deepening their engagement with the ecosystem.
Staking Details: Rewards and Exclusive Access
Token holders can now earn Annual Percentage Rates (APR) by staking their $SQR tokens across various pools. The reward rates differ per pool, making it an enticing opportunity for participants to diversify their holdings and maximize returns. The total rewards earned depend on the amount of $SQR staked and the duration of staking, granting token holders more flexibility in managing their investments.
Another appealing incentive for participants includes SQRp Points – exclusive access tokens that allow them to secure priority positions in launchpad sales on the Magic Square platform, starting from Q2 2024. The number of SQRp Points earned can increase by staking larger amounts of $SQR tokens and extending the staking duration, providing a strong motivation for active participation in the program.
Andrey Nayman’s Enthusiasm: The Future of Magic Square
CEO of Magic Square, Andrey Nayman, shared his excitement about this new program: “We’re thrilled to launch the $SQR staking program. This initiative rewards our community for their loyalty and deepens their engagement with the Magic Square ecosystem. The utility of the $SQR token is crucial for building a stronger, more supportive community that contributes 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 only the beginning of our journey to establish Magic Square as the center for web3 discovery and innovation.”
Getting Started: Connect Your Wallet and Stake
Users interested in participating can visit the Magic Staking Platform to start staking their $SQR tokens. After connecting their wallet and following the on-screen prompts, they can begin staking within minutes, with clear displays of expected APR and SQRp Points.
A Growing Community: Anticipated Launchpad Demand
The staking program aims to incentivize active community members with valuable SQRp Points for the launchpad. Several leading projects have already expressed interest in hosting a token sale on the Magic Square launchpad, expecting strong demand once it launches in Q2.
About Magic Square
Magic Square is the pioneering Web3 App Store, specifically designed to address user acquisition challenges, amplify user engagement, and create a rewarding experience through its community-driven platform. Magic Square’s mission is to connect high-quality users with projects, fostering meaningful interactions and growth. With the introduction of a launchpad, Magic Square aims to become a comprehensive solution for projects, catering to discoverability, user acquisition, community building, and now, fundraising as well.
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