All about GRAM
How to Maximize the Benefits of Being a GRAM Holder
It has been roughly three months since the introduction of $GRAM to the world, and some are still uncertain about the advantages of owning GRAM or where to use it. Today, I’d like to provide a more comprehensive view of GRAM Staking, GRAM DAO, and GRAM Swapping to other tokens. Let’s start with GRAM Staking.
1. GRAM Staking
The easiest way to reap benefits is through GRAM Staking, utilizing the “Liquid Staking” system. Similar to other token staking systems, you lock up your GRAM for a period and receive additional GRAM as a staking reward.
Understanding Liquid Staking
Liquid staking is a new service providing more liquidity to users’ staked assets. There’s no minimum requirement for staking assets. You can stake any amount for a desired period and withdraw them at your convenience.
The staking reward is automatically determined by the GRAM-sGRAM exchange ratio at the time of staking and unstaking. As mentioned in our previous post — GRAM Staking & DAO, 8% of the total GRAM supply is distributed to the GRAM-sGRAM pool every second for 10 years through the Governance Staking Contract. Consequently, as more GRAM enters the GRAM-sGRAM pool over time, the value of sGRAM will increase, providing less sGRAM for the same amount of GRAM.
Staking Procedure
- Stake any amount of GRAM at norma.land
- The digital assets’ legitimacy is then verified and kept in a smart contract
- Upon completion, receive the equivalent amount of sGRAM (staked GRAM) based on the GRAM:sGRAM exchange ratio at the time of staking.
The current GRAM:sGRAM exchange rate stands at 1:0.3087. If you stake 100 GRAM, you will receive 30.87 sGRAM. Presently, sGRAM has no utility, but future plans will allow its use without affecting the initial GRAM deposit.
How to Claim Staking Rewards
As previously mentioned, the staking reward is determined by the GRAM-sGRAM exchange ratio at the time of staking and unstaking.
For example, during the staking system’s launch event, we offered a 1:1 GRAM:sGRAM ratio for 24 hours. If A staked 100 GRAM and received 100 sGRAM during the event, and now wants to unstake the 100 sGRAM when the current GRAM:sGRAM ratio is 1:0.3087, A will receive 323.9390 GRAM. Therefore, A’s staking reward would be 232.9390 GRAM.
The earlier and longer you stake, the higher the staking reward, as sGRAM’s value consistently increases.
2. GRAM DAO
By staking GRAM, you automatically become part of the GRAM DAO, a collective of sGRAM holders who possess governance power within the project.
This is the result of our latest voting on the restaurants at snapshot. If you are a sGRAM holder, you can participate in the votes by simply linking your wallet where you have sGRAM.
If the restaurant where you’ve made full upgrades and customized costumes is chosen for WCC restaurant, you will have a higher chance to be ranked high on the leaderboard of that restaurant and win CANDY rewards. Thus, active participation in voting is crucial to influencing the outcome in your favor.
The next voting session will soon begin, so stake now to be part of the GRAM voting for the next round of WCC restaurants!
3. GRAM Swapping
You can swap your GRAM for other tokens through the list below, and each swap will require a small amount of KLAY as the gas fee:
- Klayswap
(GRAM ↔ CANDY, KLAY, oXRP, KDAI, oETH, oUSDT, oWBTC, oBNB, oGALA, oMATIC, oTON, WEMIX, etc.) - ISKRA Dex
(GRAM ↔ CANDY, ISK, KLAY, oUSDT, 3KM, WOW, DTC) - Norma.land
(GRAM ↔ CANDY)
Swap other Token to GRAM
First, you can buy key tokens like KLAY, oUSDT, or oBNB from the preferred exchange and swap them for GRAM from the list above. If you are having a hard time getting GRAM tokens from the exchange to stake, you can simply swap the CANDY you have earned in the game for GRAM.
Swap GRAM to CANDY
While playing Norma in Metaland, you may want to add more CANDY to the game for kitchen and interior upgrades. Simply swap your GRAM for CANDY from the options listed to enhance your in-game experience.
