Red token can no longer be accrued by staking cliff
You can find more information about RED on the Website or its Gitbook
HOW TO EARN RED
Red will be a valuable asset for the cliff investor in the near future, and the only way you accrue red for now is by staking cliff. 40% of the total red supply was deposited into this pool and earned only within the following couple of months.
Connect your metamask or coinbase wallet to the dapp
Here you will see the amount in CLIFF, the value in eth(cliff in eth) and 2 buttons. 1 - Approve cliff and 2 - Stake
Approve your cliff( this gives permission to the smart contract to be able to use your cliff)
Choose the amount of cliff you would like to stake and click stake. That's it!!
After staking cliff you will be able to see your staked cliff and pending rewards on the dashboard
WHAT IS THE APY?
There is technically no APY because there is no liquidity yet. No price is set till liquidity starts getting added to the pool. However, the pool drips 62,000 RED per day and will be distributed based on the weight of your staked CLIFF.
HOW OFTEN CAN I CLAIM
As often as you wish to claim!
WHAT ARE THE CHARGES FOR STAKING?
A 5% tax is required to be able to stake cliff for red, which is automatically sent to the burn address. Withdrawal does not require any taxes and there is no lock-up period. However, re-staking will cost another 5% tax.
WHEN ARE WE ADDING LIQUIDITY?
Liquidity will be added when red is being used effectively. The team will add some liquidity to create a starting market cap and also provide liquidity incentives for users to earn more red
WHY WOULD CLIFF STILL BE VALUED
CLIFF will always be at the centre of the ecosystem, there are many ways we can keep cliff alive. Such as buybacks with accrued profits & requirements to keep burning cliff to acquire certain perks within and beyond the ecosystem.
CLIFF could create products in tune with our vision, and to use those tools there would be requirements to buy and burn cliff with a percentage of the payment. e.t.c