Divvy.Bet launches NFT staking for Divvy Pass revenue sharing

Reward distribution begins, requiring pass staking by August 25

Crypto betting platform Divvy.Bet has responded to the eagerly awaited question from its community – “When Staking?” – with a resounding answer: right now.

The official launch of Divvy Pass staking has been announced, a move met with enthusiasm from its dedicated user base.

Divvy House Pass, the foundational NFT collectible, stands at the core of Divvy.Bet’s staking initiative. The House Pass, with a limited supply of 2,500 units, serves as the master key unlocking the full potential of the Divvy.Bet ecosystem.

This includes amplified DVY token emissions, elevated referral payouts, exclusive contest admissions, and a share of exclusive rewards.

Divvy House Pass comes in four tiers: Silver, Gold, Onyx, and Chrome, each tier presenting progressively greater rewards to incentivize engagement within the ecosystem. 

A vital aspect of this development is the initiation of rewards distribution, set to commence soon. To qualify for the first distribution, stakeholders must have their passes staked by August 25, 11:59 pm UTC.

A snapshot of all staked NFTs will be taken at that moment, and rewards will be distributed proportionally according to the number of staked Passes. This move aims to reward active participation and loyalty within the Divvy.Bet community.

Moreover, Divvy.Bet has added an extra layer of excitement by introducing a challenge to boost the inaugural distribution. The challenge entails staking 50% or more of the Divvy Pass NFT supply by the snapshot deadline noted above.

As an incentive, 50% of the secondary sales fee accrued from now until the challenge's deadline will be injected into the first rewards distribution. This innovative approach not only encourages staking but also enhances the overall engagement and vibrancy of the Divvy.Bet ecosystem.

Last week Divvy.Bet introduced an exclusive rewards system for holders of its Divvy House Pass NFTs, designed to accumulate rewards from various tokens within a segregated account and distribute them to a designated Divvy House Pass treasury wallet.

The system aims to offer real-time passive income and enhance the decentralized betting experience, distinguishing Divvy.Bet from other platforms. 

Additionally, at the beginning of August Solana-based NFT market Magic Eden revealed that Divvy.Bet and Solcasino NFT collections secured positions in the top five performers during the last week of July, with Solcasino coming in fourth and Divvy.Bet ranking fifth. 

Divvy.Bet is a DeFi platform that combines blockchain technology with the world of sports betting. It aims to revolutionize the traditional betting industry by offering a decentralized, user-centric, and technologically advanced betting experience.

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Written by Silvia Pavlof

Silvia has explored various forms of writing, ranging from content creation for social media to crafting movie scripts. Drawing on her experience as a journalist specializing in the gambling sector, she is currently investigating the impact of cryptocurrencies and blockchain on traditional gambling and iGaming.