HomeBitcoin NewsHOPR Staking Lets You Earn Rewards and NFTs While Supporting Data Privacy
HOPR Staking Lets You Earn Rewards and NFTs While Supporting Data Privacy
July 21, 2021
The HOPR protocol provides network-level and metadata privacy for every kind of data exchange. Designed to be better than TOR, the mixnet protects the identity of both sender and recipient by routing data via multiple intermediate relay hops that mix traffic. Now the project launches staking with NFT rewards and you can earn over 18.25% APR.
The HOPR Staking Program
HOPR, the first-ever open incentivized communication mixnet where users earn tokens for running nodes, is launching a gamified staking program. The contract is available for staking deposits from July 20th, rewards will start to pay out from July 27th and the program will run for 175 days.
The contract will be deployed on xDAI Chain and the staking token will be xHOPR. To stake and lock tokens you can simply send xHOPR to the contract address from the address you want to stake from. Rewards will be paid out in wxHOPR, the project’s wrapped token. The developers will also provide an interface to manage your stake, rewards, and NFT boosts.
The staking contract pays out 0.05% per day, which works out at 18.25% APR, but you can further boost this APR by earning and redeeming NFTs. The NFT boosts are mainly a way to engage the community in testing the advanced parts of the HOPR protocol such as cover traffic, but the developers will also be issuing NFTs linked to specific events such as the experiments, games and promotions, and partnerships with other projects to bring new users to HOPR.
Read the full details of the HOPR Staking Program here.
Data Privacy and Decentralization
If you are not yet familiar with HOPR, it can basically be explained as a decentralized network where users can send encrypted data without exposing their metadata.
More and more people are becoming aware these days about how all our private data and metadata are being collected, recorded, sold and potentially used against us. This has lead to a massive surge in VPN services that claim to protect your online privacy – but these are centralized companies that you need to trust are actually honest and not compromised in anyway. TOR is a more decentralized privacy solution, but it suffers from a lack of incentives for people to maintain the network which means it is very slow and virtually stagnant.
HOPR solves both these issues as it is fully decentralized, transparent and offers incentives to maintaining the network in the form of digital tokens. The team of experts behind the project is publicly known and they even developed a hardware router that you can use to access the network directly.