Colony Staking Mechanism Offers 5 Amazing Features For You To Access!

Colony is a community-driven accelerator, evolving into an inclusive DAO to boost Avalanche’s ecosystem growth.

Colony will deploy capital within Avalanche on early stages projects, provide liquidity to DeFi protocols, maintain an Index on top Avalanche projects, and validate networks through stacking capabilities. The proper sustenance and value generated by Colony’s investments are routed back to the Community through airdrops, a buyback mechanism, and staking rewards.

There are 5 features staking gives you access to:

How To Participate

1. Setting up Colony tokens on MetaMask

• Import Colony tokens to your MetaMask.
• Token address contract: 0xec3492a2508DDf4FDc0cD76F31f340b30d1793e6
• Token symbol: CLY
• Decimal: 18

2. Claiming your tokens

• Go on the application here.
• Click the “Connect Wallet” button.
• Click on the button on the top right corner of the Application next to “Claim here”.

• A pop-up window will open, and you’ll be able to claim your tokens if you are part of the private sale.
• Approve the transaction on your MetaMask.
• Once approved, you’ll be able to see the number of tokens on the top right corner of the application.
• Now that you have CLY in your wallet, you should stake them to make sure you are able to access all the rewards coming from Colony. 

3. Staking your tokens

• You need to stake your Colony tokens for at least 20 days in order to beneficiate from Colony’s rewards. These rewards include airdrops from early-stage projects, Avax staking rewards, Liquidity Provider rewards.
• You need at least 50 CLY tokens to start staking, this number will be potentially lowered with governance if needed.
• You can click on the Max button to automatically stake all CLY available in your wallet. Once you decide on the amount to stake, you can click on Stake.

• Now approve the CLY tokens on your MetaMask. Make sure you have some AVAX on your wallet to be able to perform the transaction.
• Once approved, you can approve the staking transaction and your tokens will be locked inside the staking contract. 

Rules

Colony staking mechanism incentivizes only long term stakers. Staking less than 20 days will not allow you to access any rewards. If you unstake during that period, the count goes to 0 days of staking, and you’ll need to start over.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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