Staked More $OFN And Took Part In The OpenFabric Loyalty Event
Over the past decade, artificial intelligence has promised to reshape our society in many unique ways through a new technological revolution, and the impetus created by innovations like self-driving cars, real-time voice assistants, and other similar products has formulated a new axiom: everything around us has to be smart. - OpenFabric Whitepaper
I found about OpenFabric at the start of 2023, and dived in the community to learn more. The AI protocol evolved at an accelerate pace, offering free AI image and meme generators to Discord members. Fast-forward and I've got whitelisted for two NFTs, and constantly added AI generated images to my articles.
The first version of the image generator was poor, and no one will argue with that. The body shapes where crippled, some humans had more limbs than needed or they had floating heads. However, the app was constantly upgraded and now creates top images from simple prompts. This helped me to be more efficient with my content, and gave me more time to meditate!
The OpenFabric Roadmap for 2024 was disclosed, and there are many key points that made me look forward! First thing I noticed was the AI wallet, the pioneer asset management tool that will add AI superpowers in every pocket. Mainnet v.0.5 will bootstrap this year, and GPU mining will be activated.
The OpenFabric AI planetary-scale network for building and connecting decentralized AI applications expanded even more with the launch of the $OFN token. The community wasn't forgotten, and the 2023 Loyalty Reward event was created to reward the top 1000 most active community members.
It wasn't one of those free crypto campaign, but maybe that's why I've done it. OpenFabric released up to 33% worth of $OFN tokens to loyal members, based on the gems leaderboard. I was 4th on the list and eligible for the offer.
This campaign was basically offering $OFN tokens at 50% discount, as the fabricators had to buy a minimum of 300 tokens from the market and add them in a staking pool.
This was a smart move, and a win-win situation. OpenFabric will increase the total $OFN locked into the pools, and users will get a double up to their tokens. I swapped 0.24 BNB for 402 OFN, just to raise the basic 300 reward to a higher level.
I found PancakeSwap the easiest place to buy, and one that I am familiar with. I already had $OFN tokens locked and added the new batch on top of the old ones.
Searched and found one freshly open pool and staked my tokens for 8.44% APY. It's not ground-breaking, but is neither negligible! I see the OpenFabric ecosystem perpetually improving and earing $OFN throughout the year was the best option.
My new locked value reached $115 USD, and those tokens started to earn rewards immediately after staking. The plan is to let the $OFN farm passively and check on the rewards at the start of 2025. Hopefully by then the token will go ballistic and record that long expected 10x growth.
One year wait is not bad, it takes the stress out of holding crypto and reduces the times you check the token's value. I wrote it down on my crypto book and will check it again in due date. LFGrow!
I made sure I completed the last steps of the campaign, adding the buying wallet address and submitting for validation. The OpenFabric team will validate the buying and staking on-chain and unlock the rewards. I will be able to claim 402 $OFN tokens when the campaign ends. Should I stake them as well or keep them unlocked in my wallet?
Having staked $OFN has extra advantages, as I could earn more tokens in the OFN 50K campaign!
A total reward of 50,000 $OFN ($10k) will be shared among participants who buy $OFN and add them to the staking portal.
The winners will be chosen randomly and rewards will be distributed in three phases:
15,000 $OFN will be distributed to the winners one day after the event commences.
20,000 $OFN will be distributed to the winners on the third day of the event.
15,000 $OFN will be distributed to the winners on the last day of the event.
Also the top 20 referrers will share $520 in $OFN tokens as it follows: $200, $100, $80 and 4th to 20th will receive $20 each!
Gleam Link: https://wn.nr/pjBxKp7
Residual Income:
Play2Earn: Upland / Splinterlands / Doctor Who
Cashback Cards: Plutus Card / Crypto.com
Fountains: PipeFlare / GlobalHive ZCash
