GLQ Staking is Now Live on GraphLinq App
GraphLinq — The No Code protocol for automating actions on-chain & off-chain, launched in just March 2021, has come a long way bringing users in the crypto space a never-seen model of integrating blockchain automation on any blockchain-related/non-related task.
The goal of GraphLinq protocol is to allow users to interact blockchains with any connected system as effortlessly as possible without any prior knowledge of coding.
GraphLinq ecosystem currently consists of an engine, an integrated development environment (IDE) & an app to provide automated services all while leveraging centralized/decentralized data streams, several blockchains, and more. Learn: http://docs.graphlinq.io | Build: http://ide.graphlinq.io | Instant deploy: http://app.graphlinq.io | Analytics: https://analytics.graphlinq.io/
GLQ is the native token for the GraphLinq ecosystem built on top of Ethereum (ERC20). It is used to run a graph on the platform’s mainnet to execute different processes over the blockchain to automate tasks, triggering events, and much more. GLQ will be used as the payment method in GraphLinq Marketplace where templates will be bought and sold peer-to-peer. GLQ’s functionality & use cases will continue to diversify as the ecosystem grows, as mentioned in Graphlinq’s Documentation.
We at GraphLinq, are excited to finally announce the much-awaited GLQ staking launch on the GraphLinq App, incentivizing the holders of GLQ to earn passive rewards. Upon staking, GLQ holders can earn as much as 50% APY in rewards depending on the unique tier mechanism aimed at incentivizing long-term holders.
Initially, tier rankings are allotted in a decentralized nature as following:
-> First 15% stakers of total stakers will be in Tier 1 and get 50% APY
-> Next 40% stakers will be in Tier 2 and get 25% APY
-> The rest stakers will be in Tier 3 and enjoy a 12.5% APY
The current APY is for a limited period only and would be updated in the near future.
When you stake for the first time, you’ll be in Tier 3 first and then make it onto the higher tiers by holding for longer durations, as the number of stakers increases you can end up in the first 15% or next 40% stakers, increasing your tier rank. Also, stakers/holders in the higher tiers could drop to subsequent lower tiers upon withdrawing their staked GLQ, ultimately rewarding the long-term holders.
To put it simply, the longer you hold, the more your rank is likely to get to the next tier with higher APY. At each withdrawal you will lose your tier advantages, benefitting the holders the most.
The first withdrawal decreases your APY by half (if you’re not on tier 3), and the second will take you back to the last tier with the least APY. However, claiming yielded GLQ will not affect your tier ranks or rewards.
Also, please note that staking more GLQ wouldn't affect your tier rank or rewards in any manner. You’ll remain on the same rank if you stake more GLQ.
Note: The current APY of the staking rewards is for a limited period only and will be followed by an updated APY which can be changed time-to-time.
GLQ’s Staking Contract has been successfully audited by CTDSEC: https://graphlinq.io/Cybersecurity_Audit_CTDSEC_GraphLinq_staking.pdf
GLQ Staking Contract Code: https://github.com/GraphLinq/GraphLinq.StakingContract
How To Stake Your GLQ in 3 Easy steps?
A step-by-step guide to putting your GLQ to work.
Step 1
Make sure that you have GLQ in your ERC20 Wallet. If you’re still looking for a way to get GLQ, here is how you can secure your bag:
- Buy $GLQ on app.graphlinq.io using fiat through any of the following payment methods: SEPA, UPI, IMPS, Faster Payments Bank Transfer, credit & debit cards. For this method, you’ll need to verify your KYC and then simply enter your ERC20 wallet address to receive GLQ.
- Swap your ETH/ERC20 for GLQ on Uniswap, 1inch, Metamask wallet.
- You can also Buy GLQ on any of these centralized exchanges (CEXs): Kucoin, MXC, Gate.io and withdraw to your ERC20 Wallet. Make sure to check the GLQ withdrawal fee on the CEX you’re using.
Video Tutorial on How To Buy GLQ:
Step 2
- Connect Your ERC20 Wallet like Metamask, Coinbase Wallet, etc. to GraphLinq App by selecting your desired wallet.
- Approve the connection by clicking on “Sign”.
Step 3
- Go to the Staking Interface by clicking on “Stake your GLQ” on the top bar or “Staking Interface” on the sidebar.
- Once you are on the Staking Interface, “Total Staked GLQ”, “My Staked GLQ”, “My Claimable Rewards” and your current Tier Ranking can be seen.
- Within the staking interface, you can find the option to “Withdraw” your staked GLQ and an option to “Claim Rewards.”
- But first, we need to stake some GLQ. To do that, enter your desired GLQ amount to stake in the “Stake Your GLQ” field. After entering the desired figure, click on “Stake now” and approve the contract on your connected wallet. Then after the approval from your wallet, click on “Stake now” again and confirm on your connected wallet in order to complete the staking process.
Video Tutorial On How To Stake GLQ:
Congratulations, Your GLQ has been staked successfully. 🎉
Update 16/06/2021:
The Staking APY to be adjusted on 23/06/2021 as following:
Tier 1: 15% | Tier 2: 7.5% | Tier 3: 5%
