Polyhedra Community’s staking program noticed greater than 6.9 million of its native token staked in lower than a month.
The Polyhedra Community (ZKJ) workforce, which lately launched the open beta the protocol’s proof cloud, shared particulars of the brand new milestone on Aug. 2.
Staking permits ZKJ holders to earn rewards and take part within the Polyhedra Community’s governance. In response to the info, the ZKJ staking program surpassed the $9 million mark in “under a month.” The entire staked tokens hit 6.9 million, whereas the variety of distinctive stakers rose to 1,688.
Nevertheless, as of the announcement on Aug. 2, 2024, the whole staked ZKJ solely accounted for about 0.08% of Polyhedra’s complete provide of 1 billion tokens.
Polyhedra Community staking V2
The zkBridge developer’s V2 staking program adopted the conclusion of the primary provide that launched in June. As a brief program, the primary occasion solely lasted for 4 weeks. Nevertheless, it allowed members to stake ZKJ for an opportunity to earn a share of the $1.13 million reward pool.
As crypto.information highlighted on the time, that first Polyhedra staking program ran till July 11.
The protocol launched its staking program V2 on July 15, which it stated would run for a most of 52 weeks. Throughout this era, community members will have the ability to stake their ZKJ tokens to build up Staking Energy. This permits token holders to earn rewards.
Staking rewards
Rewards calculation and distribution happen each Thursday at 00:00 UTC, primarily based on the person consumer’s Staking Energy versus the whole Staking Energy for all customers.
The following distribution, as an illustration, is anticipated on Aug. 8, with 25,000 CYBER and 38,000 ZKJ accessible. On Aug. 1, Polyhedra distributed 30,000 ZRO and 20,000 ZKJ.
