The Fragmint Platform offers its users a unique way of conceptualising, minting and auctioning NFTs. It combines fragmented art and DAO structures thus revolutionising the NFT space.
In this article, I will show you how you can double your investment in Fragmint platform following the simple staking method.
Double Your Investment in Fragmint Platform
Please note, this article is only for educational purposes and it is not an investment advice. I am sharing the method that has worked very well for me along with its pros and cons. Do your own due diligence before you actually invest in any project.
Market is in a down trend and most of the blue-chip coins have lost anywhere between 50-60%. Any money you make in this market is a jackpot as it can come in handy to pick some blue chips at discounted price. Now let’s see how you can make money in Fragmint Platform.
The method is simple, Fragmint rewards its investors for staking the token and the current APY is 2,509%. So, I brought Fragmint’s native token FRAG, staked and restaked till I multiplied my investment.
Below are the breakup of my investment in Fragmint’s token:-
Token Name:- FRAG
Token Price:- $0.00768
My Investment:- $465
Tokens Purchased:- 60,000 FRAGs
Daily Reward from Fragmint
Daily Staking Reward:- 600 FRAGs
Reward in Dollars (Daily):- 600 x $0.00768 = $4.6
Rewards (%):- 1% Everyday
So, in 100 days I should double my investment. Fragmint also has restake option wherein the reward can be staked which adds on to the original staked token amount. The overall token staked increases along with the daily reward.
I follow a split method here wherein I take out half of my reward regularly, and the remaining half of the reward is restaked. Thus, I have already taken out major chunk of my investment.
Risks Involved: –
- APY % decreases with increase in no. of token stakers
- Price depreciation of token can reduce the value of your overall investment
I have been staking the FRAG token for like a month and the reward has been consistent and there is no drop-in price of token value either however this may change in the future.
Step by Step Guide to Stake in Fragmint
Step 1: – Download and Install MetaMask, step up your account and transfer fund (BUSD or BNB) to this wallet. If you already have MetaMask installed then you can ignore this step.
Link:- Download MetaMask
Step 2: – Go to Pancakeswap, connect your wallet and purchase FRAG token
Link:- Purchase FRAG Token
Step 3: – Next go to Fragmint Portal and stake all your purchased FRAG token
Link:- Fragmint Staking
You are done! You can now multiply your investment by restaking the reward or withdrawing your rewards regularly.
Again, to reiterate all these investments comes with huge risk majorly price depreciation of the token so, do your own research before you invest into any project.
I hope you find this article useful! If you have any queries feel free to drop in a line and I will be happy to assist you. Do follow and share our website with your friends.
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