In this post, I'll show you how to stake COLONY tokens to increase your Staking Factor in Moon Karts, increasing your winnings in races and on the Leaderboards.
In my posts, I like to talk about Arcade Colony, it was the platform I learned about Moon Karts through. So before we continue talking about how to stake COLONY tokens, let's get to know the platform.
Arcade Colony
Arcade Colony is a web-based platform where mainstream games can deploy Web3 features. Newly created games, as well as previously released games, can now add tokens, digital collectibles, trading, renting, earning, and governance to their games. Thus, Arcade Colony hosts a series of published games similar to the Epic Games Store, Apple App Store, Google Playstore, or Steam, but unlike Web2 publishers, Arcade Colony augments new and existing games with Web3 games.
For more information about the platform, read the Whitepapper.
Now I invite you to read some of my posts that will be useful to learn more about Arcade Colony and Moon Karts.
In my post "Explaining How to Get Started in Moon Karts", I show you how to get started with Moon Karts for less than $5.
Arcade Colony also has a Discord, where you can ask questions and keep up with the latest news.
How to Stake COLONY Tokens?
Staking COLONY tokens is very simple, you just need to have them in your Arcade Colony wallet.
Log in to the Arcade Colony website and click on the COLONY token.
You will be redirected to this page, where you will be able to stake COLONY tokens.
If you don't have COLONY tokens in your Arcade Colony wallet, you can transfer them from Hive Engine to Arcade Colony by clicking "Transfer".
In the Transfer option, choose Hive Engine, the amount you want to transfer, and click Transfer In.
To buy COLONY tokens, I recommend Beeswap because the price on Hive Engine is currently very high.
In the post above, I show you how to buy COLONY tokens on Beeswap.
After transferring your COLONY tokens to Arcade Colony, you'll click the Stake option and stake your COLONY tokens.
I currently have 5,000 COLONY tokens staked. With the amount I've accumulated in Moon Karts and other games, I have enough to stake another 5,000 COLONY tokens.
I now have 10,000 COLONY tokens staked in Arcade Colony. Let's see if my earnings on the Moon Karts Leaderboard have increased.
In case you're curious, this is the table that shows the amount of COLONY tokens you need to stake to increase your Staking Factor in Moon Karts.
In my post yesterday, I showed that my position on the Leaderboard was 20 and my end-of-season rewards were 2,410 COLONY tokens.
After increasing my COLONY token stake and also completing two more races in the game, my Leaderboard reward increased to 4,820 COLONY tokens. This was a huge difference for only 5,000 COLONY tokens staked.
My goal is to stake these COLONY tokens when I receive them tomorrow and gradually increase my Staking Factor in the game and increase my rewards.
Thanks for reading, and see you in my next post.
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