Governance/Staking for participation
- As RageFan evolves into a DAO platform, the community starts
becoming more actively involved in RageFan Platform’s decisions. The
decisions are taken via governance votes. In order to participate in
governance votes, token holders must first stake their tokens.
Holders with $Rage token staked can participate in governance which
can directly impact the direction of the platform. Staking for a
duration. ensures that the holder is invested in the project and not
purchasing the tokens for voting purposes only.
RageFan DFS supports multiple tokens as fee for the contest on DFS
platform. The reward received is also in the same token as the fee.
Portion of the fee is taken as platform fees. On an average this is
10% of the total fee deposited. Contests with other tokens like USDT
or Matic, 5% out of the 10% rake fee is deposited into the community
fund. If the token is in Rage, 5% of the 10% rake fee will be sent
to a separate wallet which will be burned later. Remaining 5% of the
fee of both Rage and other tokens will be utilised to compensate for
contracts creation, gasless transaction cost and player rewards
apart from the contest winnings.
This is the democratic way to distribute tokens to active players of
RageFan. Each week, up to 5,000 $RAge will be allocated to DFS
users, proportional to their gross winnings
- 5,000 $Rage per week.
- Awarded at the end of the week.
The tokens are distributed to winners and not just participants. The
$Rage mined through fantasy play is automatically staked for a 30
days cool off period. Post this the players can withdraw from the
Season Bet Platform fee
The season bet platform earns via NFT sales. Rewards or payouts are
given to users who successfully bet for a match. The fees collected
from NFT sales are deposited in a contract and the users winning are
automatically paid out. via will be deposited into the company fund
and a portion into the community fund. The community fund will be
utilized as mentioned earlier.
Staking is the act of locking up tokens for a period of time. Tokens
that are staked remain in the user’s control, but they can no longer
be transferred. By staking tokens, the circulating supply of the
token is temporarily reduced, which also has the beneficial effect
of increasing scarcity.
Special stalking programs will be announced regularly in official
rage channels. Investors and users should follow the channels for
announcements on staking
Liquidity mining is a process in which crypto holders lend assets to
decentralized exchanges in return for rewards. These rewards
commonly stem from trading fees that are accrued from traders
swapping tokens on these exchanges. $Rage holders can similarly
benefit by lending their tokens and swap currency like USDT to
exchanges for benefits of $Rage received as rewards from trading
Liquidity mining programs will be announced in RageFan official