As you all know by now, the OPUL token is at the heart of everything we’re building. So it’s only right that Phase 1 of our Opulous Ecosystem roll-out begins with the launch of our OPUL Staking Pool.
The OPUL Staking Pool is our first pool, giving everyone the opportunity to stake OPUL and earn rewards. But it’s so much more than that. Users who actively stake OPUL can also earn raffle tickets and apply for perks including early access to our MFT drops.
As we progress, we’ll also be dishing out different prizes like trips to meet your favorite artists, signature Opulous merch, bespoke artwork NFTs and much more.
And we’re keeping it simple. Just stake OPUL to earn more OPUL. The longer you stake, the better rewards you’ll receive. Every OPUL staked also earns one raffle ticket daily — and tickets can be used to apply for rewards. The more raffle tickets you submit, the better chance of winning rewards.
Our staking pools will be an easy to access and all-round awesome place for everyone to join and be part of the Opulous community.
How to stake
It’s time to get started by connecting your wallet and staking your OPUL. Here’s how it works.
STEP 1: Connect your wallet
Head to the Opulous app and connect your wallet using either My Algo Wallet or Pera Wallet. Ledger is currently not supported, we are waiting on an update from Algorand.
STEP 2: Select the OPUL Staking Pool
Next, click ‘Pools’ from the toolbar and then select the OPUL Staking Pool.
STEP 3: Select how much OPUL you want to stake
Here you can select how much OPUL you want to stake. Hit the max button to stake all of the OPUL in your wallet.
STEP 4: Choose the staking period
Next, select how long you want to stake your tokens.
The longer you stake, the higher APY you’ll receive. For example, if you lock for 15 days you’ll get a 5% APY, but if you lock for over 60 days you’ll get a 20% APY. We’re rewarding long-term HODLERS!
STEP 5: Opt in and stake your OPUL!
Press ‘Opt me in!’ and you’ll be presented with a confirmation screen. Make sure you are happy with everything, then tick ‘I agree to the terms and conditions’ and hit the confirm button.
Now your tokens are locked in, staked and earning more OPUL!
STEP 6: View Your Stakes
You can also click on ‘Your Stakes’ to see how much OPUL you have staked. Next up, let’s talk about raffle tickets that can be used to earn Opulous Rewards.
Opulous Rewards
Now your OPUL is locked in and earning more OPUL — what’s next? Well, it gets even better OPULFAM!
You’ll also earn raffle tickets to win exclusive rewards such as early access to upcoming MFT drops and more. The first round of Opulous Rewards are slated for launch in September, 2022 — so let’s dive into how it works!
STEP 1: Accumulate Tickets
For every OPUL you stake, you’ll be accumulating daily tickets that can be applied for Opulous Rewards. The more OPUL you stake, the more tickets you’ll rack up to splash on awesome rewards!
STEP 2: Select the Raffle
Go to the Raffles tab and select which raffle you want to join. Confirm your choice by hitting ‘Add tickets’.
STEP 3: Add raffle tickets
Add your tickets and keep an eye on when the raffle ends. The more tickets you add into the raffle, the better chance of winning prizes!
There’ll be plenty of Opulous Rewards to apply for, so feel free to spread your tickets across different raffles and get involved in everything.
STEP 4: Find out if you’ve won!
As with any raffle, there are always winners and losers. If you missed out this time, don’t worry — there’ll be more chances to win!
Everyone will be able to see who has won. So if you’re the lucky winner, you’ll be notified through our app and we’ll be in touch get your rewards to you!
That’s it! It’s that easy to join our raffles and apply for prizes. But what rewards are on offer? Let’s find out!
Awards incoming!
We have the best community in the world — hands down! The OPULFAM always go above and beyond to support us, so we’re going to be giving that same energy back!
By staking OPUL in our OPUL Staking Pool, you’ll have the first opportunity to win early access to upcoming MFT sales, as well as bespoke Opulous merchandise, exclusive NFTs and more. We’re working with our partners right now to arrange some very special prizes, which we can’t wait to share with you. We’re going BIG.
FAQs
What is APY?
Annual Percentage Yield (APY) is the rate you can earn on an account over a year and it includes compound interest.
What is TVL?
Total value locked (TVL) is the amount of user funds deposited in a decentralized finance (DeFi) protocol.
I can’t connect my wallet?
We are only using My Algo Wallet or Pera Wallet in our pool at this time. Make sure you are using either of these wallets and then follow the instructions to connect on screen. You will likely be asked to connect using their app, so make sure you have that open when trying to connect.
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If you have any questions for us about our OPUL Staking Pool, don’t hesitate to reach out to us on social media:
Twitter: www.twitter.com/opulousapp/
Instagram: www.instagram.com/opulousapp/
Telegram: www.t.me/opulousapp
Reddit: www.reddit.com/r/Opulous
YouTube: www.youtube.com/c/Opulousapp
