SPACE Staking

Staking as a Cornerstone of the SPACE Ecosystem

Staking holds a pivotal position in the Space Token ecosystem, serving as a cornerstone for both product development and tokenomics. Central to this is the use of staking as a means to access enhanced features within the Final Autoclaim platform. By staking SPACE tokens, users unlock various benefits, integrating themselves more deeply into the ecosystem.

The significance of staking in the SPACE ecosystem is multi-faceted. Firstly, it serves as a mechanism to modulate the circulating supply of SPACE tokens. This is achieved by setting aside a portion of tokens specifically for staking rewards. This strategy effectively reduces the number of tokens in active circulation, fostering a more stable token economy.

Facilitation on Centralized Platforms

Staking of Space Token (SPACE) is currently facilitated on centralized platforms like Final Autoclaim and Stakecube. This approach strategically caters to a wider user base by simplifying the user experience (UX). It allows users to hold their SPACE tokens on-chain while receiving their rewards off-chain, blending the benefits of blockchain technology with the ease of use found in centralized systems. This dual approach ensures that both crypto-savvy individuals and those new to the blockchain space can participate in staking activities, thereby broadening the reach and appeal of the SPACE ecosystem.

Off-Chain Staking Allocation for Newcomers

Of the 55,000,000 SPACE allocated to staking, 5,000,000 is earmarked specifically for off-chain staking. This initiative caters to users who are new to the Web3 and DeFi spaces, providing a more accessible entry point for those still acquiring skills in these areas. Off-chain staking acts as a stepping stone for newcomers, offering them an opportunity to participate in the ecosystem and earn rewards while they gradually learn about and transition to more complex Web3 and DeFi functionalities. This approach ensures that the SPACE ecosystem remains accessible and welcoming to all users, regardless of their prior experience with blockchain technology.

The Cooldown Period in Staking

Moreover, the staking program is designed with a cooldown period, the cooldown period is specifically set at 12 hours from the moment a user initiates staking. This period is crucial for managing the distribution of staking rewards in an orderly and predictable manner. It ensures that rewards are allocated fairly and systematically to all participants.. This feature allows for more predictable management of the token supply in the market, enhancing the stability and reliability of the SPACE ecosystem. In the near future, cooldown period and the minimum staking amounts will be governed by community consensus with Space DAO.

APR and Reward Structure

In terms of rewards, the staking program offers an attractive Annual Percentage Rate (APR). Initially set high to stimulate participation, this APR decrease over time to maintain a balanced and sustainable token economy. The goal here is to attract genuine participants interested in contributing to and benefiting from the ecosystem, rather than short-term speculators.

You can get all details about the APR and structure on the tokenomics Staking subpart

A Comprehensive Strategy for Community Engagement

In summary, staking in the SPACE ecosystem is more than just a means to earn rewards; it's a comprehensive strategy to foster a healthy, sustainable, and engaged community, central to the success and longevity of the Space Token and its associated platforms.