Faraland is happy to announce the upcoming launch of its new staking program, STAKING V3. This will offer new rewards and features for all $Fara holders.
This new staking program will launch on July 24th, and there are a few important details to keep in mind.
🚀NEW STAKING(V3) LAUNCHING SOON
📌Before the launch of our new staking
❗️We have some essential information to share with you:
🔹Claim Your Rewards
🔹Old Staking Program Closure
🔹Staking mechanism update
👉Read more: https://t.co/GaOzAqhOgU
Stay tuned for more updates! pic.twitter.com/x6sskqc821
— Faraland (@faraland_io) July 21, 2023
Claim Your Rewards Before July 24th
Before the new staking program launches, it’s important to claim your earnings from the old staking program (V2). The old staking program will close after 8 AM UTC on July 24th. So, you won’t be able to claim your rewards after that time. Also, don’t forget to claim your earnings before the old staking closes.
Faraland’s New Staking Options
The new staking program will offer users a few staking options with different lock periods and rewards. Users can choose to either stake $FARA or stake $FARA-$BNB LP. This gives users the flexibility to choose the option that best suits their investment goals and preferences.
New Rewards for 6-Month and 1-Year Staking Options
Users who choose to lock their assets for 6 months or 1 year will now receive new rewards. The reward packages for the 6-month and 12-month lock staking plans have new changes that give users more ROI.
Instead of one item ticket per month, users will now receive Knight Token and Royal Token. So, they can use them to exchange items in the Black Market. This is a big upgrade from the previous reward system. So, the users will now have more incentives to lock their assets for longer periods.
New EXP Mechanism for More Flexibility
Faraland has added more versatility and player control to the staking process with the new EXP mechanism. This mechanism is designed to calculate hero EXP points using familiar formulas but with added versatility and flexibility.
The previous mechanism on Faraland automatically allocated earned EXP points to the hero’s EXP Level. However, the new mechanism allows users to withdraw a portion of their EXP and convert it into EXP JAR.
Staking on Borrowed Heroes on Faraland
For every 20,000 EXP that users get, they can exchange it for 1 EXP JAR on the game platform. You can still claim EXP later if you choose not to claim it immediately.
If you are staking on a hero that you do not own, you can withdraw the remaining EXP when it reaches 20,000. Alternatively, you can leave it there for the hero owner as well.