In this guide, we’ll introduce three methods of generating a passive income with MetaPoo — the first NFT-integrated DeFi protocol on Solana.
Decentralized finance (DeFi) has opened up a whole new world for users who, in traditional finance, have been starved of returns for decades. One of the beautiful things about DeFi is the opportunities it provides for earning a passive income and even managing payroll.
By staking the assets you own into a DeFi platform like MetaPoo, you can earn profit commonly referred to as “yield,” allowing you to grow your crypto stack without risking it through trading or other economic activities.
Through yield farming and staking, you can earn a residual income that will accrue steadily. All it takes is a little initial capital and a lot of patience.
In this guide, we’ll introduce three methods of generating a passive income with MetaPoo.
#1 Staking
Staking is the process by which you lock (or “stake”) tokens into MetaPoo smart contract and earn more of the same token in return. This is almost identical to how you might deposit cash into a savings account at a traditional bank.
This process is automated, it doesn’t require manual oversight. After depositing funds into the smart contract, you can leave the mechanism to take care of the rest, while periodically claiming your rewards.
Normally, stakers are incentivized to lock up their assets for an extended period and earn rewards for contributing to the network’s security and decentralization.
To further incentivize our users, MetaPoo will boost the rewards from our single asset staking pools for a period of time right after the fair launch.
#2 Liquidity providing
As a Decentralized exchange (DEX), MetaPoo supports swaps between token pairs, like SOL/USDT. This liquidity comes from pooled tokens belonging to liquidity providers (LPs).
A liquidity provider is an ordinary user who places their tokens into the smart contract controlling the pool.
By doing so, Liquidity providers will earn a % fee from all swaps, proportionally to their pool share. The more trades that are conducted via that pool, the more they will earn.
#3 Yield Farming
Yield Farming is where the magic happens.
When you LP in a MetaPoo DEX, you will receive tokens denoting your pool share. These tokens can then be locked into our yield farms.
This means that while your pooled assets are earning a share of all fees in the DEX, your LP tokens can also be earned.
MetaPoo rewards users in $MTP. Our Yield Farming platform also supports NFT Staking. By stake NFTs from Poo Series to farming pools, users can further increase the reward received.
For example, the Holy Sh!t NFT will give you a 75% boost APY on your liquidity positions. That means, if your normal reward is 1000 $MTP, then with the Holy Sh!t NFT staked along, you will receive a total of 1750 $MTP.
MetaPoo - the first NFT-integrated DeFi protocol on Solana
Do your own research here:
- Documents: https://docs.metapoo.cash/
- Medium: https://metapoo.medium.com/
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