Playground Partnership with Bridgesplit

Published on: 09.05.2022
Playground Partnership with Bridgesplit

Playground announced a partnership with Bridgesplit to bring a unique staking program to the Solana Ecosystem.

Bridgesplit is pleased to announce that holders of Playground NFTs will now be able to stake Waves and Epochs NFTs to earn PLAYA. However, PLAYA is the token representing the NFTs in the Playground Curated Index.

Bridgesplit takes a novel approach to stake and integrates it into their Floor Index.

Users can earn Double Yield by depositing a Waves or Epochs NFT into the Floor Index, providing liquidity to gain +25% APY in WAVES Floor Index Tokens and automatically having the NFT staked earn PLAYA Curated Index Tokens.

Moreover, Bridgesplit and Playground partnership will continue to push the boundaries of the NFT-Fi space to bring increasing value to holders by way of liquidity, rewards, and ease of use.

Playground Staking Program

  • Manual Staking

The manual method is suitable for users who do not want to fractionalize their NFTs. The NFT is deposited into the smart contract, rewards are accumulated, and the NFT, along with rewards, can be withdrawn from the agreement.

  • Automatic Staking

Bridgesplit has automatically incorporated the staking contract into the Floor Index. Here is how it works.

Double Yield Strategy

  • First, deposit Epoch NFT into the Epoch Floor Index. This NFT instantly accumulates PLAYA tokens while it resides in the Floor Index.
  • Receive 1000 Index Tokens.
  • Take all or some of the 1000 Index Tokens and pair them with an equal amount of SOL. Deposit them into the liquidity pool to receive LP (Liquidity Provider) tokens.
  • Deposit LP tokens into the intelligent farming contract.
  • There are now two yield streams from the initial deposit into the Floor Index. The deposited NFT is accumulating PLAYA rewards, and the LP tokens are earning WAVES rewards.
  • At any time, users can claim WAVES rewards.
  • Since, users would take 1000 Index Tokens and fuse an NFT in the Floor Index to claim PLAYA rewards.
  • Lastly, this recombines the NFT and transfers it along with any accumulated PLAYA tokens to the user’s wallet.

About Playground

Playground is a new experiential platform focused on generative works of art stored immutably on the Solana blockchain.

Website ♦ Twitter 

About Bridgesplit

Bridgesplit is enabling participation through derivative creation, accelerating price discovery and liquidity with unique financial mechanisms, and broadening the design space of projects through new mediums of discovery.

Website ♦ Twitter

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