Introducing Auto-Compounding Staking
Our focus on the staking of $GOVI is to benefit the users who plan to hold the token in the long run and be part of the community. Therefore, we are introducing auto-compounding within the staking contract of the CVI platform.
Staking of the $GOVI tokens is currently available on Polygon and Arbitrum.
It is well known that compounding reward tokens can significantly increase returns. Therefore, to benefit the project's long-term supporters, $GOVI stakers will have their $GOVI rewards automatically compounded within the CVI platform.
Once you stake your $GOVI on the CVI platform, you will receive $xGOVI, representing your share of the staking pool of the platform. The code of the $xGOVI includes an auto-compounding feature, this means, users won’t have to claim and re-stake $GOVI rewards on a regular basis to increase their rewards, which will save the community time and network fees.
The longer to stake your tokens, the more the auto-compounding effect will be, and therefore, the bigger the amount of $GOVI rewards you will be receiving overtime. All of the above would be possible, without the need to be constantly paying GAS fees to stake the new tokens.
You can redeem your $xGOVI at any given point in time after staking, with the accumulated rewards for regular $GOVI.