AUGUST 10, 2022 BY HENNESSY AJANG
Cryptocurrencies have outperformed nearly everything in the past years. Yet, only a few people have held their coins and made a lot of money by doing so. In late 2019, the cryptocurrency HEX introduced a decentralized Certificate of Deposit, in which you can lock up HEX for an amount of time of your choosing from 1 to 5555 days. During the 2.5 years of its existence, it has outperformed the largest cryptocurrencies and performed over a 10 000x return from its All-Time-Low. Many people had and have their HEX locked, and thus enjoyed the ride. Not only did this behavior boost HEX’s performance, it also made a lot of millionaires.
HEX has been a great investment for many, and is an amazing Certificate of Deposit. However, people can only stake HEX, and nothing else. Besides HEX, people might hold other cryptocurrencies and want to stake/lock them in a CD.
For these people, there is great news: Carpe Diem Savings is soon coming with a decentralized CD for all kinds of cryptocurrencies!
Carpe Diem introduced its Savings platform during the 2nd TRON Grand Hackathon of 2022. The platform has been under development for over a year, and is nearing its completion. It will first be launched on TRON, followed by EVM-compatible blockchains later.
During the Hackathon, Carpe Diem created a basic introduction video, a one-pager, and a running preview of the platform. Besides that, the first partner, NoleCoin was established and announced and connections were made in the TRON ecosystem.
Carpe Diem Savings is a staking model which can give long-term value to partnered cryptocurrencies. Partners often provide part of their earnings or token supply towards boosting the APY of their staking pool. Their benefit is that they can focus on the core of their project and don’t have to worry about creating their own staking solution, which can save a lot of time and money. Users who have the longest stakes receive the most rewards, which is an important factor for long term sustainability.
A factory smart contract is used to configure each pool individually. This adds flexibility, which is used to adapt to the partner’s wishes for their staking pool. Some variables: reward distribution percentages addresses, length and size bonuses, and initial share price.
Partners looking to collaborate can write an email.
Locking up tokens is a relief for many, as people don’t have to look at charts all day anymore. People can live their lives, seize the day, and come back when their stake has matured.
Besides giving back valuable time and happiness to its users, Carpe Diem contributes to philanthropic causes with part of its revenue. Those causes are to be chosen by the project’s team or community of a given pool.
Carpe Diem believes that it is important to build on already existing projects. That is why a community fund can be set up. This fund can be used for multiple purposes, but must be linked to the project’s ecosystem. For example: providing an incentive to projects that build on the ecosystem, or organizing giveaways for the community.