Christchurch, New Zealand – March 29, 2022 (Newsfile Corp.) (Investorideas.com Newswire) The Ruby Play Network is pleased to announce the launch of staking and farming opportunities for the RUBY token, in partnership with blockchain gaming counterparts – Strawberry. The $RUBY token can now be staked and farmed through a variety of third party platforms, with attractive APR and APY available, depending on number of coins, staked terms and the users’ staking platform of choice. At time of writing, the current APY for Rubies on ApeSwap is 281%.
The partnership with Strawberry allows for defi and blockchain gaming opportunities to be realised, with Strawberry providing liquidity to all DeFi markets. With how compliant the initial RUBY private sale needed to be, the opening of DeFi markets through Strawberry provides further passive income options for investors, without the Ruby Play Network offering the staking facility directly.
Ruby Play Network partner Strawberry launches Staking & Farming Options
Ruby Vault, ApeSwap & ACY: RUBY Staking Options
The $RUBY token is a decentralized cryptocurrency that relies on Proof-of-Stake consensus in order to facilitate the movement of money on the blockchain. Therefore, staking tokens can be a way for investors to “lock” up their tokens for a chosen period of time, and earn crypto rewards based on the amount of transactions their tokens have helped facilitate.
The Ruby Vault provides a staking option within the platform interface. Users are given the ability to connect their chosen wallet, and then choose from a variety of staking periods. There are a few options available here, with staking APY doubled for the first 30 days on the platform. Further staking periods of 90, 180 and 360 days can be selected in line with user choice. Although the terms are in place, users can unstake at any time with complete flexibility.
ApeSwap Finance, provides more a “degen” option, with some decent APYs available through its Jungle Farms. Using these options, users can either stake RUBY tokens, or LPs. In terms of centralized exchanges, Bitrue is offering 8% APR through its PowerPiggy proposition – allowing users of the CEX to stake a certain amount of RUBY per day before the cap is fulfilled. The 8% APR offered on Bitrue is one of the highest APR’s amongst the staking offerings on Bitrue Power Piggy at present.
Why does Strawberry provide Staking and Farming for $RUBY?
Whilst having a plethora of crypto casino-style games and features ready-to-play, Strawberry Sweeps is also a vital partner to the Ruby Play Network within DeFi markets. When looking at compliance, and particularly, securities offerings, a lot of legal precedent whereby projects are caught foul of securities law is due to direct staking offerings. Think Coinbase Lend, whereby the platform itself offered the staking facility.
Enter Strawberry, who have provided liquidity to both PancakeSwap and Apeswap, in order to give further accessibility to the $RUBY token. This allows the Ruby Play Network to comply with the New Zealand Government rules, as it does not directly offer staking of its token. Strawberry purchased a large amount of RUBYs, with the view to then use these RUBYs as liquidity for DeFi markets.
Post Launch Plans for the Network
Since its launch on the 15th of March, the $RUBY token has seemingly found support at around the 0.0068 mark. Going forward, major focus will be placed into establishing daily utility of the $RUBY token – outside just buying and selling. The staking and farming options should be just the start, with further gaming options including the rollout of Strawberry Sweeps to international markets – soon to take place.
In line with this, the website will be refreshed with user-focused content, moving away from the institutional and platform-based messaging from months prior. New pages for staking, farming, how to buy, and a complete homepage redesign are soon-to-be released, as driving holders and volume is now the main aim. Notable success has already been achieved in a short time, with the Ruby Play Network now appearing on Page 1 of Google Search for “Play To Earn” searches.
The Ruby Play Network will soon be upgraded to feature new games, some P2E and some pay to play, as the proposition looks to increase its gaming offering to international markets.
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