FIRSTLY WHY ZOIDPAY,
ZoidPay is a decentralized multi-chain platform that aims to enable users to send, receive, and store digital assets across different blockchains. It also allows for easy and secure cryptocurrency payments for goods and services.
ZoidPay is a crypto liquidity platform enabling instant card issuance for purchases at any merchant at the lowest fees. ZoidPay was established in Cyprus in May 2018 as a blockchain company focused on making crypto payments easy for everyone, driving adoption to web 3.0 financial services.
ZoidPay enables,
Users: Shop anything from anywhere with crypto
Developers: Build web 3.0 financial services on top of instant, interoperable cross-chain liquidity with our APIs and SDKs.
Blockchains, Exchanges & Wallets: Integrate crypto liquidity with one line of code
What are the ZoidPay farms?
Starting on February 1st, we’re launching two programs that will allow you to earn rewards in the form of a passive income in our ZPAY and upcoming WAND tokens.
We will launch two farms, one which pays out rewards in ZPAY and another which will payout rewards in the WAND token.
What do the ZoidPay farms do? And how?
The ZoidPay farms let you earn rewards by providing liquidity. Providing liquidity to the ZPAY-EGLD pair on xExchange, and choose to earn rewards in either ZPAY or the upcoming WAND token.
For the record, the ZPAY token is core to our platform and has been trading since early 2021. Here’s more on that.
WAND is our soon to be launch degen token, which will come with some incredible utility including Instant Liquidity Farming and more. Some basics around WAND are available here.
What are the returns one can expect by participating in the ZoidPay farms?
As mentioned earlier, there will be two farms, one giving out ZPAY in returns, and another rewarding with WAND.
ZPAY Farm
Provide liquidity on the ZPAY-EGLD pair on xExchange and earn an APY of up to 30%. Rewards on this farm are capped at 3M ZPAY.
Here’s a look at the tier-based reward system for the ZPAY Farm
Earn an APY of 30% for the first month
Earn an APY of 20% for the second month
Earn an APY of 15% from the third month onwards
WAND Farm
Provide liquidity on the ZPAY-EGLD pair on xExchange and earn an APY of up to 1500%. Rewards on this farm are capped at 20 billion WAND. This represents 20% of the total supply for the WAND token.
Here’s a look at the tier-based reward system for the WAND Farm
Commit up to 23000 ZPAY: Earn an APY of 100%
Commit beyond 23000 ZPAY up to 225,000 ZPAY: Earn an APY of 300%
Commit beyond 225,000 ZPAY up to 420,000 ZPAY: Earn an APY of 700%
Commit over 420,000 ZPAY: Earn an APY of 1500%
Please note: The amounts include the entire value of contribution made to the Liquidity Pool. Thus, 23000 ZPAY for example represents 11500 ZPAY (as is) and 11500 ZPAY, in the form of EGLD. Making up 50:50 ratio contribution to the LP.
Note: The APY listed on the Farming program is an estimate of the potential annual percentage yield that you may earn over a year. The APY will fluctuate based on participation in the program and other factors.
Can I use my Zoidster NFTs to boost these rewards?
Of course! Coming soon after launch of the farms will be a feature letting you stake your Zoidster NFT to boost the farming returns. You will be able to use a Zoidster NFT and boost the APYs, on either the ZPAY or WAND farm you are participating in, by up to 50%. Let’s welcome Epoch 2!
So, let’s say you are earning an APY of 1500%; include a Zoidster NFT and you will be able to up that APY to 2250%.
Please note, this feature will be launched in the weeks after the initial release of the farms on the 1st of February.
The Zoidsters are a set of only 1001 NFTs, making up our genesis collection. Know more about them here.
Any other benefits of participating in the ZoidPay farms?
Here are some additional benefits that participants upto the completion of first month of the launch can expect,
All participants in the farms will get a guaranteed ticket to participate in the upcoming WAND token sale
All participants in the farms earn a position on the whitelist for our next NFT collection planned this year. If you haven’t seen our first, launched last year, check this out
All participants in the farms will get a custom ZoidPay debit card once launched
So what are the lock-ins, unbonding period within the farms?
Your participation in farming is based on the LP token (ZPAYWEGLDLP) committed. More on this in the next question.
In the case of both farms, your LP token will be locked for 30 days. Beyond this, there is an unbonding period of 10 days.
Rewards can be unlocked entirely only after the completion of 12 months. In the case of you wanting to unlock rewards earlier, you will be able to do this after completion of six months. However, any rewards unlocked before a year will be halved and you stand to lose the rest of your rewards. Thus, any rewards unlocked between 6 months and 12 months will equal only 50% of the actual rewards earned.
Rewards unlocked before six months are lost entirely.
What are the steps involved in participating in the farms?
Firstly, decide which of the two farms you wish to participate in. Of course, you do have the choice to participate in both
Participation as a liquidity provider requires you to make contributions equally in two tokens, in this case ZPAY and EGLD. Thus, make sure you have equal value amounts of ZPAY and EGLD. Thus, let’s say you wish to make an investment commitment to the Liquidity Pool of $1000. You will need 500$ each of ZPAY and EGLD tokens
(Note: ZPAY tokens are available for purchase on xExchange, MEXC and BitMart)
Go to xExchange Liquidity page and “Add Liquidity” in the ZPAY-EGLD pair
Once a commitment is made to the Liquidity Pool, you receive LP (Liquidity Pool or Liquidity Provider) tokens, meant to act as proof of your share of participation in the pool. In this case, the LP tokens received will be ZPAYWEGLDLP
Next, head to stake.zoidpay.com and use the ZPAYWEGLDLP tokens you received to stake them in the ZoidPay farms to earn rewards in ZPAY or WAND
Finally, here’s something for our Shopping Pool Owners (SPOs),
All SPOs will enjoy a share of the rewards (20B WAND and 3M ZPAY) equally, based as follows:
1% of the rewards from existing participants in the ZPAY-EGLD liquidity pool
10% of the rewards from new participants in the ZPAY-EGLD liquidity pool (New includes all participants who provide liquidity once this announcement has been made)
About ZoidPay: ZoidPay is a crypto liquidity platform enabling instant card
issuance for purchases at any merchant at the lowest fees. ZoidPay was established in Cyprus in May 2018 as a blockchain company focused on making crypto payments easy for everyone, driving adoption to web 3.0 financial services.
ZoidPay enables,
Users: Shop anything from anywhere with crypto
Developers: Build web 3.0 financial services on top of instant, interoperable cross-chain liquidity with our APIs and SDKs.
Blockchains, Exchanges & Wallets: Integrate crypto liquidity with one line of code
What do ZoidPay farms do?
We’re starting two initiatives on February 1st that will let you gain benefits in the form of a passive income in our ZPAY and forthcoming WAND tokens.
Two farms will be put into operation, one of which will pay out prizes in ZPAY and the other in WAND tokens.
ZPAY Farming, a distinctive feature of ZoidPay, enables users to stake their ZPAY tokens in the ZPAY Farm in order to receive additional incentives. We will go more into the ZPAY Farming feature and how it can help users in this article.
By staking their current tokens in the ZPAY Farm, users can use ZPAY Farming to generate more ZPAY tokens. Users are rewarded with extra ZPAY tokens in return for locking up a set number of ZPAY tokens for a predetermined amount of time. The benefits increase with the length of the lock-up period. This encourages users to keep their ZPAY tokens for extended periods of time, which results in growing interest in ZPAY and likely price increases.
A tiered rewards system is used by the ZPAY Farm to promote ongoing involvement. Users who store their ZPAY tokens for longer periods of time are rewarded more than those who store them for a shorter amount of time. Those who are dedicated to the platform and have faith in its long-term prospects are rewarded as a result. With no minimum lock-up term and an inclusive design, the ZPAY Farm is available to all users, regardless of the quantity of their investment.
What are the steps for staking zpay.
The general steps for staking ZPAY are as follows:
1. Get ZPAY tokens: Before you can begin staking, you must first purchase ZPAY tokens. You can buy them from other holders or supported exchanges.
2. Create a ZoidPay wallet: Once you have purchased ZPAY tokens, you must create a ZoidPay wallet to store your tokens. Downloading the ZoidPay mobile application from the app store will allow you to establish a wallet.
3. Link your wallet to a blockchain network that is supported: Currently, ZPAY stakes are held on the Binance Smart Chain (BSC) network. You must include the BSC network in your wallet in order to link it to the BSC network.
4. Move ZPAY tokens to your wallet: After setting up and joining the BSC network, your wallet is ready to receive ZPAY token transfers.
5. Choose a staking pool: Tokens for ZPAY can be staked in a variety of pools with various staking incentives and lockup times. Depending on your preferences and the number of ZPAY tokens you want to stake, you can select a staking pool.
6. Stake your ZPAY tokens: Upon selection of a staking pool, you can stake your pool. Once your tokens are staked, you will start earning staking rewards.
The $Wand native token of the WandX decentralized exchange is also supported for staking on the ZoidPay platform. Similar to how $ZPAY is staked, $Wand is staked on ZoidPay.
The following procedures must be followed in order to stake $Wand on ZoidPay:
1. Visit the ZoidPay website and link your $Wand-containing wallet there.
2. From the list of supported tokens, click the “Stake” tab at the top of the website and choose “Wand.”.
3. Stake the desired amount of Wand, then confirm the transaction.
4. To receive your staking rewards, wait until the staking period has ended.
The stake rewards for $Wand on ZoidPay are distinct from those for $ZPAY. The exact reward percentages vary according to the amount of $Wand staked and the length of the staking period. The reward percentage that you can earn increases the longer you stake $Wand.
One way to generate passive income and help the WandX ecosystem is by staking $Wand on ZoidPay. Additionally, it aids in network security and provides incentives for token holders to keep and stake their $Wand tokens.
Finally, ZPAY Farming is a distinct function of the ZoidPay platform that incentivizes users to hold onto their ZPAY tokens for a longer period by providing them with additional rewards. By doing so, the ZPAY Farm encourages long-term participation and strengthens the demand for ZPAY tokens. As ZoidPay continues to grow and expand its ecosystem, the ZPAY Farming feature is likely to play an important role in the platform’s success.
Follow us on the social networks listed below if you’re interested in finding out more about ZoidPay. Head over to our Telegram channel and ask anything you’re really curious about to get a quick answer from our core team members!
Here are some official links for Zoidpay:
Website: https://zoidpay.com/
Twitter: https://twitter.com/ZoidPay
Telegram: https://t.me/ZoidPayOfficial
Medium: https://medium.com/@zoidpay
LinkedIn: https://www.linkedin.com/company/zoidpay
Reddit: https://www.reddit.com/r/ZoidPay
