4 Main Reasons to Stake SQR

Have you heard that Magic Square launched a new amazing feature? Now you can stake SQR tokens and earn. You will receive SQR tokens passively, and it is one of the 4 main reasons to stake SQR tokens.

What are Magic Square and SQR?

I told you about Magic Square and Magic store before. But let me briefly introduce that project to you again.

Magic Square stands as a distinctive Web3 ecosystem, offering a seamless platform for discovering premier Web3 projects. The curated selection undergoes meticulous scrutiny by the Magic Square vibrant community, guaranteeing a superior and delightful Web3 journey for all users, irrespective of their expertise.

Magic Square ecosystem consists of Magic Store, Hot offers, Magic Karma, SQR token, Project voting and validation, Magic boost, and Magic Membership.

Therefore, Magic Square users have variable ways to earn money, and also to learn about new trending and perspective projects.

4 Main Reasons to Stake SQR

Staking is one of the most popular and safe ways of passive income. You can stake your crypto in many different exchange dapps, and most likely, you have seen it or even used it before.

Now, you can stake SQR tokens on Magic Square too. Besides basic rewards such as receiving SQR tokens or SQRp points (depending on staking conditions), you can also get other perks just for locking your SQR tokens.

Another reason to stake SQR is that with received SQRp points you can participate in the Launchpad allocations which are coming in the 2nd quarter this year.

And the more SQR tokens you stake the more rewards and benefits you get.

How to stake SQR

You can find the staking tab in the left menu bar on the Magic Square official page. Once you click this icon, you will be redirected to the Staking page.

On the staking page, you can find all the basic information about SQR staking, staking conditions, APR%, staking duration, etc.

Currently, more than 6 million SQR are already locked.

If you want to stake SQR, you need to have them on your Metamask or another wallet and connect that wallet to the SQR token staking platform.

Then you need to choose the staking option you are interested in, and the amount of SQR you want to stake. After that, just confirm your transaction.

How much is APR?

Most likely, when you decide how long to stake your SQR tokens, you are looking at APR %. Right now, there are 4 different options: 10%, 12.5%, 13,8% and 15%. So, you can receive up to 15% rewards if you lock SQR tokens for 90 days.

As I mentioned above, you will receive not only SQR tokens but also SQRp points.

What are SQRp points

SQRp points represent your share of the allocation in certain Launchpad projects that will be launched on Magic Square soon. And it is obvious that the more $SQR you stake and the longer you stake it for, the more SQRp points you earn, granting you larger allocations in Launchpad projects.

How to claim SQR rewards

Depending on the staking conditions you can claim your accumulated SQR rewards after the staking period ends or during the staking period too. Claimed SQR tokens rewards will be deposited to your wallet, and SQRp rewards may be used directly for launchpad allocations.

Where to buy SQR

SQR is listed on Bybit and Gate.io, also you can swap them on PancakeSwap.

Also, you can receive daily SQR airdrops and rewards on the Magic Store. And if you have a Magic Square membership, you can earn even more SQR tokens. So, there are many reasons to stake SQR tokens and to accumulate them too. I told about it in the previous article.

Keep in mind that you can’t withdraw SQR tokens until the end of the specified lock period. This ensures the stability and security of the staking pool.