DEP staking to be released on NFT Marketplace by DEP from 12 July 2021

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ž ・Staking reward is up to 15% plus for 2 weeks after the launch

ž ・Chance to earn more DEP to own your favorite NFTs

We are happy to announce that the long-awaited first DeFi service, DEP staking will go live on NFT Marketplace by DEP from 12July 2021. Our first DeFi service is where users choose to stake the DEP earned from playing games and earn more DEP to own NFTs to win more battles.

Staking on the PlayMining platform is an incentive program for users who are contributing to our Playmining ecosystem and lets you earn DEP efficiently. We would like you to join the staking program and try out the function, your feedback and suggestions are essential for DEA to provide new services.

To celebrate our first DeFi service launch, we have set an appealing reward rate for the first two weeks of launch! Don’t miss out on the opportunity to earn even more DEP.

ž 1 Month APR 8.576% (Usual rate 5.576%)

ž 3 Month APR 12.523% (Usual rate 8.523%)

ž 6 Month APR 15.340% (Usual rate 10.340%)

The example of rewards granted for starting a special campaign rate for 6 months for 1,000,000DEP will be :

1,000,000 DEP x APR 15.340% x 0.5 year (6 months) =76,700 DEP

Definitely a chance to earn DEP by HODLING it in the staking account.

Here are the guidelines to start DEP Staking.

Guidelines on using DEP Staking

To start DEP Staking, first and foremost you need to have PlayMining ID to login to our contents including NFT Marketplace by DEP. You can also earn DEP by referring and inviting friends and families so be sure to use the opportunity.

  1. Sign up for PlayMining ID. All you need is an email address.

After checking email verification and logging in to the PlayMining portal, click on NFT Marketplace by DEP.

2. Upgrade your member status to Auctioneer

To start DEP Staking, users need to verify by conducting Knowing Your Customer(KYC).

You will be able to change your status by submitting the necessary information.

To be Apprentice, you will need to register your phone number. To be Auctioneer, you will need to submit your ID. This is to conduct KYC to prohibit users from suspicious activities.

You may start DEP Staking once your status changes to Auctioneer, however, you will need to upgrade to Connoisseur level if you are to use DEP to purchase NFTs at auction or transfer DEP outside the Playmining platform.

Once your member status changes to Auctioneer, you will have the Staking button in red, ready to start.

3. Start DEP Staking

Input the amount of DEP you would like to Stake and select the period and click the confirmation. You will also need to acknowledge the terms and conditions before proceeding.

Once you have clicked on Confirm, all you need to do is wait until the staking period. The DEP reward will be automatically provided to your DEAPcoin wallet at end of the staking period. You must note that the reward will not be granted if you have decided to withdraw DEP before the end of the staking period.

Important conditions to note for DEP staking:

ž ・The minimum deposit amount is 3,000 DEP per plan.

ž ・The maximum deposit in total is 1,000,000 DEP per account.

ž ・Users can choose up to 5 plans total per account.

ž ・The reward will not be provided if you cancel and withdraw staking before the maturity date

ž ・DEP staking service will stop when it reaches the threshold of the total rewards.

ž ・The reward rate will change from time to time without notice. The staked plan and the rate will not change until the maturity date.

Staking reward logic will be posted here, please check them out for more detailed information.