Mask Network Introduces Staking Season 1 for $MASK Token Holders

Mask
Network
has
unveiled
the
first
season
of
its
staking
program,
offering
$MASK
token
holders
the
opportunity
to
stake
their
tokens
for
rewards.
According
to
Mask
Network’s
official
Medium
post,
the
initiative
aims
to
foster
community
engagement
and
support
the
development
of
decentralized
technology
and
social
media
solutions.

Staking
Rewards

Participants
in
the
staking
program
can
earn
additional
tokens
from
Mask
Network’s
core
partners
and
promising
projects
within
its
ecosystem.
Specifically,
staking
$MASK
tokens
will
allow
participants
to
earn
points,
which
can
be
exchanged
for
700,000
$RSS3
and
40,000
$TON
tokens.
The
staking
process
will
be
accessible
on
Mask
Network’s
Staking
Page,
available
on
the
Ethereum
mainnet.

Points
System

The
staking
model
operates
on
a
points-based
system,
where
most
users
earn
1
point
per
hour
for
each
staked
$MASK.
The
total
rewards
are
distributed
based
on
the
proportion
of
an
individual’s
points
to
the
total
points
accumulated
during
the
activity
duration.
Participants
can
deposit
$MASK
at
any
time
during
the
staking
period
and
withdraw
their
tokens
at
the
end
of
the
period.
During
the
staking
period,
assets
are
locked
and
cannot
be
withdrawn.

Staking
Guidelines

Restricted
Regions
and
Compliance

Staking
is
not
available
in
restricted
countries
including
the
US,
Canada,
China,
Iran,
North
Korea,
Syria,
Netherlands,
Crimea,
Malaysia,
Bangladesh,
Bolivia,
and
Cuba.
Participants
must
ensure
that
their
use
of
Mask
Network’s
staking
services
complies
with
applicable
laws,
including
regulations
on
anti-money
laundering
(AML),
counter-terrorist
financing
(CFT),
sanctions,
and
financial
regulations.

Eligible
Participants

The
staking
program
is
exclusively
open
to
individual
users.
Organizations,
companies,
or
institutions
are
not
permitted
to
participate.

Security
Measures

The
staking
contract
will
undergo
strict
security
audits
and
testing
to
ensure
the
safety
of
user
assets.
However,
users
should
be
aware
that
staking
activities
carry
certain
risks,
including
market
risks
and
smart
contract
vulnerabilities.
Participants
are
advised
to
carefully
evaluate
these
risks
before
engaging
in
staking
activities.

About
Mask
Network

Mask
Network
aims
to
bridge
Web2
and
Web3
decentralized
applications,
evolving
into
a
Web3
social
conglomerate
that
invests
in
and
builds
decentralized
social
apps,
developer
tools,
protocols,
and
creative
content.
For
more
details,
visit
Mask
Network’s
official
Medium
post

here.

Image
source:
Shutterstock

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