Monsterra is a gaming platform that operates on multiple chains, including BSC and Terra, and is based on the pet world from Axie Infinity and the gameplay of Clash of Clans/Boom Beach from Supercell. It’s a fantasy role-playing game set in a made-up world where players develop properties and engage in battles against other countries using supernatural creatures called Mongen.
The game’s aesthetic draws heavily from Clash of Clans and Boom Beach, and Axie Infinity’s pet-battling mechanics. The objective of the game is to construct a powerful empire by developing farms and properties and winning wars against other empires, using Mongo to deploy creatures into enemy territory, which fight automatically but can be directed by the player.
What is Monsterra?
Monsterra allows players to earn tokens and participate in a decentralized economy. It is expected to have a unique and engaging gameplay experience that sets it apart from other games in the genre. The game’s multi-chain approach allows cross-chain functionality and greater interoperability with other decentralized applications.
Players can also trade their Mongo creatures and other in-game assets on decentralized marketplaces, allowing them to earn additional tokens by selling items they no longer need. The game’s ecosystem is designed to reward players for their participation and contribution to the game, making it a potentially lucrative investment for those who excel in it.
Monsterra offers a compelling combination of fantasy role-playing, empire-building, and creature-battling mechanics, all set within a decentralized, blockchain-based game world. It is poised to become a popular and profitable game within the growing world of blockchain-based gaming and NFTs.
How Monsterra Staking Works?
Monsterra has set up various staking pools that offer attractive investment returns for gamers and MSTR token holders. By depositing gaming NFTs linked tokens into these pools, players can earn rewards from the Monsterra Game Universe.
The profits generated from these pools may be utilized for future community projects, including ecosystem development or buying and burning MSTR tokens.
Staking provides a way for Monsterra players and MSTR owners to earn passive income while contributing to the growth and success of the platform. By staking their tokens, they are helping to secure the network and enable new features and functionalities to be added to the Monsterra Game Universe.
The staking process is simple. Players can choose from various staking pools, each with its own level of risk and reward. They can then deposit their tokens into the pool of their choice and start earning rewards immediately. These rewards are distributed regularly, typically daily or weekly, and can be claimed by the player at any time.
The benefits of staking go beyond just earning passive income. By participating in the staking process, players are also contributing to the long-term success of the Monsterra ecosystem. The funds generated from staking can fund new initiatives and projects that will help grow and expand the platform, benefiting everyone involved.
When you stake, you rely on validators who run nodes on the Monsterra Network to take care of it, which enhances network security and earns you rewards. Monsterra’s Proof-of-Stake (PoS) system rewards users with MSTR tokens, which can be obtained through three different methods:
To become a validator and join the network, you must run a complete node to verify blockchain transactions. Validators receive a portion of the fees and newly created MSTR.
However, if a validator acts maliciously, makes a mistake, or has an unstable internet connection, their rewards will be reduced as a consequence. Therefore, becoming a validator is a method of earning rewards from the Monsterra network, but it requires responsibility and reliability.
Using someone else’s MSTR to support the network in PoS validation, you can act as a public node. The more stake you are delegated, the more voting power you will have as a delegator.
This is easier than being a node validator, but it has its own set of advantages and difficulties. Therefore, becoming a delegator is another way to participate in the Monsterra network and earn benefits.
Monsterra has created a cross-chain transaction platform known as the Monsterra Bridge, enabling you to transfer assets between different networks without needing a trusted third party. To utilize the benefits of the fastest speed and low costs offered by Monsterra, you can use the Monsterra Bridge to move your Ethereum assets to Monsterra.
How to Stake Monsterra Using Metamask Wallet
Staking in the Monsterra network is comparable to staking any other ERC-20 token, with some additional steps that utilize MetaMask. Although you can acquire Monsterra tokens through any wallet or exchange, you can only participate in staking through the Trust Metamask Wallet website.
This website is connected to the Monsterra blockchain, providing maximum security for your staked tokens.
- First, install the MetaMask extension on your web browser to start staking.
- Select the MetaMask extension icon and create a wallet if you don’t have one.
- Import the Monsterra token by selecting the “Import Token” option and scrolling or searching for “Monsterra”.
- Press the button for Monsterra tokens and click on the “Stake” button.
- Enter the number of Monsterra tokens you want to stake and confirm the transaction.
- You’ll receive a confirmation link in your email. Verify it with a password or a secure method such as U2F. Your staked tokens will start generating rewards.
- While logged in, you can adjust your staking preferences in MetaMask by selecting “Token Balances” while logged in. You can change the staking duration, gas limit, and other account settings.
- To withdraw your staked tokens, select the “Withdraw” option. Note that you can only send coins from the Trust Wallet website, not other exchanges.
Monsterra intends to adapt to the rapidly changing gaming industry and be conscious of the challenges both players and gaming studios face. You can gain a deeper understanding of these concepts by exploring staking and the various Defi-based earning opportunities.
It is important to emphasize that this information should not be taken as investment advice. It is crucial to conduct thorough research and make informed decisions before investing in alternative digital assets. It is worth noting that there are various methods of earning through Monsterra, such as staking your coins to become either a validator or delegator.
Christopher is a highly skilled writer who possesses a deep understanding of the interplay between financial markets and technology. His goal in writing is to deliver expert analysis through written content that is easy for readers to comprehend.
With a keen interest in cryptocurrencies and the blockchain industry, he has been among the earliest contributors to the Coin Decimal Crypto Blog.
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