4 Jul // Staking
staking quarterly: q2 2024

gm gardeners, 🌸

It’s been 3 months since the launch of our staking program. The program not only incentivizes the long-term participation of gardeners through SEED staking, but it also incentivizes them to keep Fillers in check from gaining monopoly orders in Garden's Orderbook.

This is an important part of the ecosystem and warrants a deeper look at regular intervals to see how we are performing and what that means for Garden’s growth.

Consistent Returns 🌱

First things first, let's talk numbers. Gardeners currently earn an Annual Percentage Yield (APY) of 181% by staking their SEED. Yes, you read that right! As a result, the total value of the SEED staked currently stands at a healthy $ 691,425.

SEED staking APY is influenced by several dynamic factors like the number of stakers, price fluctuations, and token burns and issuances, and it recently reached as high as 186% APY. In other words, staking returns have consistently held up in the solid triple-digit range since staking was launched, giving you fertile opportunities for growth.

Community Roots 🌳

Despite the ebb and flow of the crypto world, the number of stakers has held steady over the last month. We even saw a lot of re-staking of Season 1 and Season 2 rewards This shows the trust and commitment you all have in helping Garden grow. Together, we've staked ~4.6 million SEED tokens — accounting for 46% of the total circulating supply. 

On average, each user has staked 16,611 SEED, but let’s take a moment to tip our hats to the green thumb who’s gone above and beyond with a whopping 298,200 SEED staked.

Controlled Burn 🔥

Out of the currently staked SEED, 67.4% of the tokens have been permanently staked by gardeners who opted for a higher rate of returns forever. This essentially amounts to a token burn of 3,110,100 SEED, and underscores users’ confidence in the long-term viability and growth of the Garden ecosystem.

On top of that, this high proportion of perma-staked SEED also helps stabilize Garden’s token economy by decreasing sell pressure and overall market volatility. In short, it’s our way of pruning the Garden to ensure that growth is sustainable and SEED holders have more space to flourish!

About Garden

Garden is the fastest way to swap BTC and WBTC, providing a 10x improvement over existing options. It is decentralized, trustless, audited, and not a real garden.

Join the garden townhall and ask our expert gardeners about soil acidity and trimming bushes.

Last edited on 8 Jul
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