Given the fact that staking enables users to hold their cryptocurrencies and other digital assets in a crypto wallet, different blockchain protocols seek reliable decentralized finance (DeFi) platforms to list and stake their ERC-20 tokens. Furthermore, staking gives token holders a chance to earn passive income by getting rewards for holding cryptocurrency.
Ferrum Network is a well-known name in the blockchain space for building and providing DeFi staking platforms for these tokens. In a recent activity, Ferrum Network has announced to list and stake LGCY Network token ‘LGCY’ on its crypto wallet UniFyre Wallet as a part of a long-term partnership.
We’re proud to announce @LGCYNetwork as the upcoming staking & listing project
Learn more about the releases in the article below ↓https://t.co/QrWHORHe1g
— Ferrum Network (@FerrumNetwork) August 30, 2020
What is LGCY Network?
LGCY Network is an open-source blockchain protocol with delegated proof-of-stake capabilities. It is committed to becoming a truly decentralized blockchain while increasing the participation of the crypto community.
How Will the DeFi Staking Platform Benefit LGCY Network?
The fully customized feature of the DeFi staking platform will allow LGCY Network to customize staking the way it wants.
LGCY Network will have the freedom of determining how many tokens can be used for deposits and withdrawals, how many staking pools should be there to choose from when the withdrawals can be made, and how much rewards a user can earn for each staking pool.
What Is UniFyre Wallet?
In addition, LGCY token holders will be benefitted from the unique technology of the non-custodial UniFyre Wallet, including Swap Drop, Pool Drop, and Link Drop-in various ways such as high transaction speed. Also, it has a multilayer security feature to prevent hacks.
Let us look at how these features will transform LGCY Network.
- Link Drop: It will allow the transfer of crypto assets over different social media platforms as well as via email using only one link.
- Pool Drop: It will allow the transfer of crypto assets to as many as 100 people using only one link.
- Swap Drop: It will allow over-the-counter crypto trading with no risk using only one link.
Ferrum Network intends to facilitate the transfer of crypto assets by eliminating the need of visiting a centralized crypto exchange. Integration of LGCY Network to its DeFi staking platform is just a part of Ferrum Network’s long journey.
