Sesameseed Adds 200,000 New Staking Users To Ontology

Ontology Gas | 10.04| 228

200,000 New Staking Accounts Created by Sesameseed On Ontology

On October 2, 2019 Sesameseed announced that it had introduced more than 200,000 new staking users to the Ontology blockchain. The spike in new users was a result of a massive airdrop campaign that was coordinated through Seedit — the fast, easy-to-use micropayment system that was launched on Ontology earlier this year.

200,000 New SEED Staking Wallets Added

The airdrop consisted of 50,000 SEED distributed equally to all Seedit wallets on TRON and Ontology. SEED is the tokenized representation of community participation in Sesameseed. Staking, voting and allocating resources for Sesameseed as a governance representative earns SEED in proportion to each individuals stake. It is built to empower its holders through several unique features. These are a few notable benefits to holding SEED:

  • All SEED are treated equally, no matter the blockchain on which it exists.
  • SEED automatically earns rewards on multiple blockchains daily.
  • SEED automatically compounds rewards daily, ensuring SEED holders earn the maximum reward just by holding SEED in any wallet. No restaking or revoting of rewards is necessary.
  • SEED is a pegged token. This means it has a guaranteed amount of other digital currencies it can be redeemed for.
  • A portion of daily node rewards are put towards the pegged value of all SEED in existence. This means the amount of digital currencies each SEED is redeemable for can go up every day. The longer each SEED is held, the more the pegged value can go up over time.
  • SEED stakes at a higher rate than the digital currency by which it’s backed.

All SEED airdropped is now actively staking and earning rewards for holders automatically. SEED holders can see their earned rewards updated daily by entering the Ontology address provided by Seedit on the Sesameseed Rewards Tracker.

To learn more about the airdrop read the announcement here.

The airdrop also had a positive effect on the ranking of the SEED token on the popular DApp ranking site, DappRadar. It ranked as the number one Ontology DApp and number four overall with over 300,000 transactions.

SEED ranked number one Ontology DApp on DappRadar
SEED ranked number 4 DApp overall on DappRadar

The mission of Sesameseed is to increase community participation on the blockchain, and is continuously developing solutions to facilitate that. Sesameseed CEO, Juliun Brabon, says: “Staking is a fundamental utility of the blockchain, providing core functions to the chain, none more important than encouraging community interaction. That is the most critical to a blockchains ability to develop.” To reflect that, Sesameseed unveiled a method by which to stake with less than the required 500 ONT. Users of the Ontology blockchain are now staking and earning rewards with only 1 ONT. Another unique aspect to this new staking method is distribution of rewards every 24 hours, so stakers no longer have to wait until the end of a round to begin accruing rewards.

To learn more about Sesameseed and SEED visit our website and join our Telegram. You may also connect with us on Twitter, Reddit, Facebook, Instagram, LinkedIn, YouTube, and Medium.

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cc: The Ontology Team / Ontology Research Institute

Sesameseed Adds 200,000 New Staking Users To Ontology was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

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