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Move2Earn Crypto, Stake2Earn Crypto

Proof of Physical Activity (PoPA) is a novel consensus mechanism concept that ties mining rewards to physical activity, leveraging the growing interest in fitness and health. In the context of GetFit Mining's PoPA, staking.

  • 1. Incentive Alignment: Staking is used to ensure that participants who are contributing to the network's value through physical activity are rewarded. By staking tokens, users signal their commitment to the network and may receive more significant rewards for their activity, aligning economic incentives with healthy lifestyle choices.
  • 2. Token Utility and Circulation: Users who stake their GFAM tokens might be more deeply integrated into the GetFit ecosystem. Staking acts as a mechanism to reduce the circulating supply of tokens, potentially increasing their value and stability.
  • 3. Network Growth: As users stake GFAM tokens it could create a more vibrant and robust network. This growth can lead to more transactions within the app and more extensive use of the token, which in turn could increase transaction fees from which stakers can earn rewards.
  • 4. Verification and Trust: Staking could serve as a form of Sybil-resistance mechanism, where users who have staked tokens are more likely to be genuine participants in the network rather than malicious actors trying to game the system for rewards.
  • 5. Long-Term Commitment: By integrating staking with PoPA, GetFit Mining encourages a longer-term commitment from its users, as they would be incentivized to maintain both their physical activity and their stake in the network over an extended period.

GetFit Mining Staking introduces an innovative approach to staking within the crypto ecosystem. Here's how it stands out from traditional staking platforms:

  • 1. Higher Reward Percentage: GetFit Mining offers up to a 25% reward on staked GFAM tokens, which is a significant incentive compared to many traditional staking platforms.
  • 2. Token Circulation Impact: By staking GFAM tokens, they are locked in a staking smart contract and pulled out of circulation. This not only supports the token's value by reducing supply but also demonstrates the community's commitment to the project.
  • 3. Revenue-Generated Rewards: Rewards for stakers come from a portion of the transactions occurring within GetFit's app and Web3 interfaces. This aligns the interest of the stakers with the success and usage of the GetFit platform, unlike traditional staking where rewards may come from fixed pools or newly minted tokens.
  • 4. No Fixed Daily Rewards: Traditional staking often promises a fixed daily reward. In contrast, GetFit does not guarantee a daily percentage, this is a more sustainable and realistic approach in the long term.
  • 5. Flexible Staking Duration: There is no maximum staking deadline imposed, making it flexible for users. Rewards can be completed either on the same day or over an indeterminate period, unlike traditional platforms that may have strict lock-up periods.
  • 6. 90-Day Completion Option: If rewards are not completed within 90 days, stakers have the option to un-stake and forfeit any unearned rewards. This provides an exit strategy for users, which might not always be available in conventional staking models where tokens can be locked for extended periods without such options.
  • 7. Stable Token Rewards: Instead of receiving rewards in the native GFAM tokens, stakers earn their rewards in stable tokens such as BUSD or USDC. This is particularly innovative as it provides a stable return that is not subject to the volatility commonly associated with cryptocurrencies. Traditional platforms typically reward stakers in the native token, which could vary widely in value, but by rewarding in stablecoins, GetFit ensures that the value of the rewards is predictable and less risky for the stakers. This approach is more appealing to those looking for stability in their rewards earned.
  • Overall, GetFit Mining Staking aligns the rewards with the actual economic activity of the platform, offers higher potential rewards, provides flexibility in staking duration, and avoids unrealistic daily reward promises, which could contribute to the sustainability and stability of the token's ecosystem.

GetFit Mining Referral Staking Rewards

GetFit Mining adds an extra layer of incentive for network participants to expand the community. Here's a breakdown of how this works and its potential implications:

  • 1. Referral Credits: When a participant refers someone to the platform, and that new user stakes GFAM tokens, the referrer receives a credit equivalent to 10% of the staked amount by the new user. These credits are not GFAM tokens themselves but can be staked to earn rewards.
  • 2. Earning Potential: These referral credits can be staked by the referrer to earn additional rewards, up to 25%. This means that not only does the referrer benefit from bringing in a new staker, but they also have the potential to increase their earnings through the platform's staking mechanism.
  • 3. Claiming Rewards: Once the staking rewards have been met — the referrer can claim their rewards. The timing and conditions under which staking rewards are considered complete are the same as the GFAM staking terms.
  • 4. Exclusivity to Credits: It's important to note that referral rewards are credited only in the form of staking credits, not as additional GFAM tokens. This structure encourages the referrer to engage with the staking system themselves, rather than simply earning more tokens passively.
  • 5. Circulation and Value: By offering credits that are staked instead of direct token rewards, prevents dilution of value due to an increase in the token supply.
  • 6. Encouragement of Participation: This referral system encourages current users to recruit new stakers, fostering community growth and increasing the locked-in GFAM within the platform, which could enhance its stability and security.

The referral staking rewards system is designed to incentivize community growth and engagement with the staking system. It encourages users to promote the platform, provides them with an opportunity to earn more through staking, and potentially enhances the overall health of the platform by increasing participation in the GFAM ecosystem.

Please be advised that GetFit Mining does not guarantee any form of reward for staking GFAM tokens. The potential of earning up to 25% rewards is an estimate based on variable factors, including but not limited to the volume of transactions within the platform and market conditions, and should not be construed as a promise or guarantee of earnings.

We expressly state that we do not offer a fixed daily percentage in rewards. The rate of rewards can fluctuate, and there may be periods where no rewards are earned. All rewards are distributed in BUSD or USDC stablecoins, and not in GFAM tokens.

Participants in the GetFit Mining staking acknowledge that after a period of 90 days from the date of staking, they have the option to un-stake their GFAM tokens. In choosing to un-stake, participants will forfeit any future rewards that have not yet been earned or distributed.