Development – Staking
Staking, Staking, Staking. That is what this week’s update is all about. We have some exciting developments on the staking front. Last week we shared that the staking contract was going to be ready on the heels of the Version 0.5. We also shared that the ability to stake LP tokens will be integrated into the contract. Let us delve into that a bit deeper.
As of right now, the Score Milk white paper presents how staking MILK tokens will allow you to earn a 60% share of the platform fees collected. While Score Milk has been in development the team discussed how we could enhance the staking concept beyond what the white paper mentions. While the team went back and forth on various options and in the end, we all landed on integrating the ability of users to stake their LP tokens. We recognized that MILK token holders would be torn on whether to provide liquidity via DEFI or stake their MILK on the ScoreMilk platform. The unintended consequence could be a significant reduction liquidity on DEFI. We took a potential problem and turned it into an opportunity. The ability to stake your LP tokens will benefit the whole community as well as provide a significant amount of flexibility on how you want to utilize your MILK tokens.
Additionally, the team has recognized that providing liquidity via DEFI requires the user to provide both sides of the liquidity pair. For example, if you want to provide liquidity with 100 MILK tokens, you would need to provide an equivalent value of TRX in order to complete that transaction. The team will ensure that those staking their MILK/TRX LP tokens will receive, at minimum, an equal value of rewards from the platform fees. Exact calculations will be shared before Version 2.0 goes live.
Congrats to @GabeLincolnIT for winning the #BeLikeMilkman Contest.
The #BeLikeMilkman avatar contest has concluded, congratulations @GabeLincolnIT!
We will DM you to receive your $100 in #TRX
Thank you all for participating, more events to come! pic.twitter.com/aUZ0FxauzK
— Score Milk 🥛 (@ScoreMilk) October 19, 2021
Tron and BitTorrent Community Alliance
This week the community alliance was busy with the launch of Tron Bulls. An NFT project by ApexGo. The Score Milk team has begun talking to alliance projects, namely the Bored Ape Tron Club as well as the Tron Bulls by ApexGo . We are throwing ideas back on forth on how best to provide increased utility to NFT projects. We will keep you posted on this process.
Please join the alliance Discord. You can have a real impact on the NFT space within Tron. Join here ➡️ https://discord.com/invite/3Jvu2CUSG4
*As always, please check out the Score Milk white paper.
Make sure you follow Score Milk’s Social channels.
*Legal: Before obtaining any MILK tokens please ensure you are eligible to do so in the country you reside in. Visit https://tronspark.com/score-milk-legal-information/ for our regulation and compliance information.