Dear community,
We continue our series of explainer articles as we are gearing up for the upcoming platform’s release. This week’s focus would be the benefits entitled to the most valuable members of our community — PAD holders.
One of the first features coming to the platform on the release day is staking. As of right now, there is lite version of the staking in place, a compensation for the delay. As soon as the platform launches, however, a fully-fledged staking system will be implemented, which is no longer going to be automatic.
On May 31, you will be able to put the claimed PAD tokens to work via staking. And with upcoming bi-monthly unlocks, you can generate even more rewards. Staking PADs grants you PAD Liquidity Provider tokens. These utility tokens are closely tied to our ecosystem’s features and we will dive into the details in a moment.
Moreover, owning PAD tokens nets you some additional benefits when it comes to platform usage. As we already covered in the previous week’s article, creation of the pool will require a certain amount of PADs. Of course, this price of admission will be accessible to any community member. Furthermore, early access to the pools will be linked to PADs, which is yet another reason to become a holder.
When it comes to the aforementioned LP tokens, they will be essential for the SmartPad’s governance. From our perspective, allowing community members to partake in the governance is crucial to ensure project’s long-term prosperity. We will create a forum for the community members, where the latest improvements to the ecosystem will be discussed.
LP holders will be also be eligible to participate in voting, aimed at bringing in only the projects best suited for platform’s current needs. It is what makes our project truly decentralized, since only the community members are currently in position of PAD tokens.
It is important to point out, however, that governance and early access to pools will not available when the platform launches. They will be released as part of the future updates.
We sincerely hope you enjoyed this week’s announcement. We will continue covering the news and platform updates throughout May, so by the time it releases, you know exactly what to expect and, hopefully, hyped for the new features to come. Thank you for taking your time to read this article.
Respectfully,
SmartPad team
