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With DEP Staking, Digital Entertainment Asset Brings DeFi to Gaming

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Participants can get up to 15% APY by staking their DEAPCoin (DEP)

Singapore, July 12, 2021 – Digital Entertainment Asset Pte. Ltd. (DEA), a Singapore-based NFT and blockchain entertainment company, today announced the launch of its DEAPCoin (DEP) staking service. Starting from 12 July 2021, holders of DEP, the company’s native cryptocurrency, can stake up to 1 million DEP in exchange for DEP rewards up to 15% APY.

The launch comes at a time when the popularity of decentralized finance services (DeFi) that utilize blockchain technology is soaring. As of July 1st, 2021, some US$54 billion is locked in DeFi protocols, down from an all-time high of US$88 billion in May. DeFi allows individuals to freely earn a yield on the digital assets they hold without the need for intermediaries. DEA’s DEP staking service merges the potential of DeFi, gaming, and NFTs to provide users with passive income opportunities simply for holding DEP. 

Staking is the act of locking a digital asset such as DEP in a special wallet in exchange for rewards in the form of DEP. It is a great way for users to contribute to the ecosystems of which they are a part. While staked, the DEP cannot be used until the end of the staking period.

Rewards rate

The rewards rate applied depends on the duration of the staking period. A special reward rate will be given to users who sign up within the first two weeks from the service start date.

【Special rewards rate】

  • 1 month: Annual reward rate 8.576% (usually 5.576%)
  • 3 months: Annual reward rate 12.523% (usually 8.523%)
  • 6 months: Annual reward rate 15.340% (usually 10.340%)

For example, if you stake 1 million DEP for six months at an annual reward rate of 15.340%, the rewards you will receive after six months are as follows.

1 million DEP x annual reward rate 15.340% x 0.5 years (6 months) = additional 76,700 DEP

How to apply:

To use DEP staking, users will need to register for a PlayMining ID and create a wallet.

  1. Click here to register for PlayMining ID.
  1. Click here to create a wallet (apply at Auctioneer).
  1. Click here to apply for DEP staking (for customers who have completed steps 1 and 2).

Terms and conditions:

  • The maximum staking amount is 1 million DEP per account. (It is also possible to combine multiple stakings within different periods as long as it is within 1 million DEP) The minimum staking amount is 3,000 DEP per plan.
  • You can use up to 5 plans per account in total.
  • Cancellation is limited to once a day per user.
  • The rewards will be automatically distributed to the user’s wallet at the end of the staking period. However, please note that if you terminate the service before the end of the staking period, the reward will be 0 regardless of the progress.
  • We will stop accepting applications once the amount staked by users reach a certain limit.
  • The reward rate of the campaign may change depending on the application status of users.

More information about the DEP staking service will be posted at a later date to our blog

About Digital Entertainment Asset Pte. Ltd.

Digital Entertainment Asset is a Singapore-headquartered blockchain entertainment company that operates in the business of non-fungible tokens. It was founded in August 2018 by Naohito Yoshida and Shigeru Shiina.

On 8 April 2020, the company’s proprietary crypto-asset DEAPcoin was listed on OKEx. The company has developed several browser games including “JobTribes” and “Puzzle x JobTribes”, and also operates a digital asset marketplace known as the “NFT Marketplace by DEP”.

DEA’s vision is to create a world in which “enjoyment turns into income” through the launch of PlayMining, an entertainment platform that utilizes blockchain technology. The company currently has over 1,000,000 PlayMining ID registrants around the world.

About DEAPcoin (DEP)

DEAPcoin is a proprietary utility token issued by DEA.

It is available to use as a currency to buy NFT (digital art assets) on the PlayMining Platform, an online digital entertainment platform where games and digital asset transactions are linked by blockchain technology.

Each time a new game is added to the platform, the number of digital assets available for use in the game increases, allowing for the purchase of more valuable digital assets with DEAPcoin.

DEAPcoin is available on several cryptocurrency exchanges worldwide including Bittrex Global and Indodax.

*DEAPcoin is not currently available for sale to residents of Japan.

About DEA services that DEP can be used for

NFT Marketplace by DEP| https://daa.playmining.com/

“NFT Marketplace by DEP” is a service that allows users to buy and sell digitized artwork drawn by popular creators from Japan and around the world. This NFT is unique and exclusive because of DEA’s blockchain-based transaction system.

The post With DEP Staking, Digital Entertainment Asset Brings DeFi to Gaming appeared first on BeInCrypto.

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