The popular blockchain game Faraland has announced significant upgrades coming to its staking system in Version 3, launching August 24th.
This long-awaited update will provide better experiences, more rewards, and added flexibility for FARA token holders.
📢NEW STAKING UPDATE ON FARALAND!
🕗 𝐃𝐚𝐭𝐞: 𝟖:𝟎𝟎 𝐀𝐌 𝐔𝐓𝐂 𝐨𝐧 𝐀𝐮𝐠𝐮𝐬𝐭 𝟐𝟒𝐭𝐡
🎉 The old Staking program (V2) will officially be closed.
🚀Staking Now! Receive Awesome Rewards!
— Faraland (@faraland_io) August 24, 2023
Claim Earned Rewards Before the Update
With V3 introducing changes to staking periods, be sure to claim any rewards you’ve already earned before 8AM UTC on August 24 when V2 ends. Faraland will not be responsible for unclaimed rewards after that point when the old system shuts down.
Complete Unstaking Before the Deadline
For those currently staking in V2, you must fully unstake your assets by the deadline as well. This returns your tokens so they can be reinvested in the new V3 contracts for upgraded rewards. Leaving assets staked in the old system may result in loss, so complete unstaking first.
Exciting New Rewards for Different Staking Periods
V3 brings enticing new FARA and EXP rewards for staking terms from flexible to 6 months. The longer the lock period, the greater the rewards, up to 30% bonus for 6 months! New prize tokens are also granted based on staked amounts.
For 6-month staking, FARA tokens over 5000 now grant Knight Tokens. Higher tiers earn Royal Tokens up to 20 for 1 million+ FARA. FARA-BNB LP staking also unlocks Knight and Royal Tokens based on contributed liquidity.
Choose What to Do with Earned EXP on Faraland
The new EXP system is more flexible, too. Before, earned EXP automatically leveled up staked heroes. But now, players can withdraw EXP to tradeable EXP JAR tokens on the marketplace. Save up 20,000 EXP for 1 EXP JAR
Introducing the New Black Market
A new Black Market is coming with V3 as well! After unstaking, players can trade earned Knight and Royal Tokens for magical treasure chests containing rare and exclusive in-game items. Gear rarity ranges from legendary crafting materials down to common items.
Get Ready for a Better Staking Experience
Staking V3 represents a major upgrade. The team is excited to bring FARA holders these impactful improvements to rewards, flexibility, and overall experience. Be sure to make the most of the current V2 system before the changeover!
Key Deadlines and Reminders
Firstly, you must claim all earned V2 rewards before August 24 8 AM UTC. Secondly, fully unstake current V2 assets on the platform before August 24 8 AM UTC. Thirdly, V2 rewards and staking ends completely on August 24 8 AM UTC. Finally, the new V3 staking launches on August 24.