Unlocking Cross-Chain NFT Staking with Enterprise DAO
NFT Staking, a unique and innovative method for crypto investors to not only purchase non-fungible tokens but also earn rewards and other benefits by locking them on a platform or protocol, has taken a significant step forward. Enterprise DAO, powered by Terra Money, has now introduced cross-chain NFT staking for Cosmos chains such as Terra, Stargaze, Juno, and soon Terra Classic.
Enterprise Protocol Facilitates Cross-Chain NFT Staking
By launching cross-chain NFT staking, Enterprise DAO has made it possible for Cosmos chains to enjoy this functionality. The Terra-powered platform aims to create, manage, and develop DAOs within the Cosmos ecosystem in an easy and efficient manner. In January, the platform introduced cross-chain token staking for both Terra and non-Terra tokens.
The cross-chain NFT staking feature is initially available for selected NFT collections on Stargaze and Juno. These NFT DAOs, powered by Ark Protocol, now offer users the ability to stake their tokens with just one click and set up their staking without any coding required. Additionally, they provide advanced voting mechanisms, treasury management tools, and rewards distribution systems.
Support for Terra Luna Classic through Enterprise DAO
Terra Luna Classic has unanimously approved the proposal for the Terra Classic v2.4.2 upgrade. This upgrade will introduce IBC-Hooks to the chain, enabling the onboarding of decentralized applications (dApps) on Terra Luna Classic, particularly Enterprise DAO. The upgrade is scheduled to take place on March 25.
The community-led chain is focused on revitalizing LUNC and restoring USTC’s peg to $1 through various initiatives including token burning, staking, and other strategies. The recent addition of new developers to the developer groups has strengthened the narrative around the utility of Terra Luna Classic.
Price Performance of Terra and Terra Classic Tokens
In the past 24 hours, the price of Terra (LUNA) has experienced an 11% decline amidst a broader market sell-off in the crypto industry. Currently, LUNA is trading at $0.944, gradually retracing all the gains it had made earlier in the month.
The price of LUNC has also dropped by 13%, reaching the $0.000150 level. The 24-hour trading range for LUNC is between $0.000148 and $0.000180. Additionally, trading volume has increased by 97% within the past 24 hours.
Meanwhile, USTC’s price has fallen by 11% in the last 24 hours, with its current trading price at $0.0309. The lowest and highest prices recorded within this period are $0.0299 and $0.0347 respectively.
Hot Take: Cross-Chain NFT Staking Revolutionizes Crypto Investments
NFT Staking is an innovative concept that allows crypto investors to not only own non-fungible tokens but also earn rewards and privileges by locking them on a platform or protocol. With Enterprise DAO introducing cross-chain NFT staking for Cosmos chains, including Terra, Stargaze, Juno, and soon Terra Classic, the possibilities for investors have expanded even further.
This development enables investors to stake their NFTs seamlessly across different chains within the Cosmos ecosystem. By doing so, they can take advantage of various benefits such as earning rewards and participating in governance decisions offered by different DAOs.
The integration of cross-chain functionality for NFT staking by Enterprise DAO demonstrates the continuous advancement and innovation happening in the crypto space. As more platforms and protocols adopt this feature, it will likely contribute to the growth and adoption of NFTs, making them an increasingly valuable asset class.
Overall, cross-chain NFT staking presents an exciting opportunity for crypto investors to maximize their returns while actively participating in the evolving decentralized finance landscape. By leveraging this unique method, investors can diversify their portfolios and explore new avenues for generating income within the crypto market.
By
By
By
By