Mogul Productions, the decentralized film financing platform, is celebrating the first anniversary of the launch of its STARS tokens with a special staking program for loyal users.
This staking program will be the longest to date, rewarding participants with a whopping 14 million STARS tokens.
With a market cap of more than $19 million, STARS is trading just around $0.0685 as of writing. It is up nearly 32% in the past 24 hours and 90% in the past week. About six months back, the token hit its all-time high (ATH) at about $0.278.
The announcement comes at a time when Mogul Productions and STARS holders are preparing for a big year ahead, with the team all set to launch its detailed roadmap next week.
The DeFi and NFT Marketplace platform for the film and entertainment industry aims to allow the fans located worldwide to participate in financing all kinds of entertainment like movies via NFT sales. Its NFT Marketplace is powered by the STARS tokens that grant the community ownership over the success.
Mogul Productions has partnered with 360VR streaming platform Ceek, Ethereum scaling platform Polygon, decentralized oracle network Chainlink, multi-chain DEX ApeSwap, cross-chain protocol AnySwap, and Web3 venture studio NFTY Labs to bring movies on the blockchain. These high-profile partnerships tell a story about the massive potential Mogul Productions hold.
The Staking Program
The special staking program will begin on May 15, under which STARS holders will be able to supercharge their staking rewards for a whole year. During this period, Mogul Productions will give out 14 million STARS tokens to its users.
To earn these lucrative rewards, users must lock up their tokens, and yes, users can withdraw their staked STARS anytime they want. But, there is a specific minimum requirement that they must fulfill to earn full staking rewards. Even to be eligible to claim rewards, users have to meet the minimum lockup threshold.
Staking rewards will accumulate passively for the duration of your lockup period and are paid out in the form of STARS tokens.
There are different reward pools, and each one has a different number of STARS allocated to reward users. Reward rates, which will vary over time, are calculated based on the total STARS allocated to the pool. The rewards earned by a user depend on their stake’s size, and there’s no minimum or maximum amount a user must stake to be eligible for rewards.
Each pool also has a different reward payment period. Moreover, rewards in the pool are issued per every BSC block. As such, the pool end dates will be approximated according to the average BSC block time, which is ~3 seconds.
The staking program is actually for BEP20 STARS, so users have to pay minimal gas fees to enter the pool and claim their rewards. And fewer fees mean more rewards for the community.
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