🥩Stake to Earn

Stake your NFT to earn Bids as SPL tokens

By staking their Degen Bid NFT, holders will earn rewards in the form of the Degen Bid token, known as $BID. Each $BID is equivalent to one bid on a Penny Auction, providing an added incentive to stake your NFT and participate in the platform.

NFT holders can earn $BID per day for each NFT they hold, giving them a regular source of rewards that can be used to participate in auctions and increase their chances of winning. The more NFTs you hold and stake, the more $BID tokens you'll earn, providing even greater rewards and incentives for long-term holding and engagement with the platform.

Overall, the Staking Rewards feature is a valuable benefit for Degen Bid NFT holders, providing a way to earn rewards that can be used to participate in auctions and maximize their chances of winning. Whether you're a casual bidder or a dedicated degen, staking your NFTs and earning $BID tokens is a great way to get more out of your participation in the Degen Bid platform. The amount of $BID given for staking rewards is subject to change as the supply of $BID needs to remain controlled in order to ensure we have a profitable platform.