Magic Square Introduces a Staking Initiative for $SQR Token Owners

Road Town, BVI, March 25th, 2024, Chainwire

Following its acquisition of TruePNL Earlier this year, Magic Square, the Binance Labs-supported Web3 app store, initiated a staking program aimed at $SQR token holders. This effort seeks to boost the $SQR token's utility and encourage the community to engage actively in the ecosystem's development.

By staking their $SQR tokens in varying pools, token holders can earn an Annual Percentage Rate (APR), with rates differing from pool to pool. The eventual rewards are tied to how much $SQR is staked and for how long. Participants have the flexibility to select their preferred pool and to stake their tokens for any timeframe they wish.

Alongside the APR benefits, those who stake their tokens will accumulate SQRp Points, which provide unique access to upcoming launchpad sales on the Magic Square platform, set to begin in Q2 2024. The accumulation of SQRp Points can be amplified by staking additional $SQR tokens and extending the staking duration.

Andrey Nayman, CEO of Magic Square, shared his excitement about the new program: 'We’re thrilled to introduce the $SQR staking initiative, which not only rewards our loyal community but also increases their involvement with the Magic Square ecosystem. This program is pivotal in enhancing the $SQR token's utility, fostering a more robust community, and driving the growth of our platform. The inclusion of SQRp Points as a bonus ensures that our users gain exclusive access to the most promising opportunities in the web3 landscape through our launchpad. This is merely the start of our commitment to making Magic Square the go-to hub for web3 innovation and exploration.'

To begin participating in the staking initiative, users should navigate to the designated portal. After linking their wallet and following the simple on-screen instructions, they can set up their staking in under a minute. The portal provides clear visibility into expected APR rates and SQRp Points. Magic Staking Platform The staking program is tailored to reward eager community members with sought-after SQRp Points for launchpad opportunities. Numerous prominent projects are already expressing interest in launching token sales via the Magic Square launchpad, anticipating a strong surge in demand once it opens in Q2.

Magic Square is pioneering the Web3 App Store, tackling the traditional hurdles of user acquisition while boosting user interaction and delivering rewarding experiences through its community-centric platform. It connects quality users with projects, nurturing impactful engagements and growth. By introducing its launchpad, Magic Square aims to position itself as a comprehensive growth-hacking resource, covering areas from discoverability and user acquisition to community development and fundraising efforts.

About Magic Square 

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