# Stake to Earn

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.\
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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.
