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Saturday, September 25, 2021

Massive Enjin Update – Efinity on Polkadot, Enjin Coin Staking!

This post was originally published on castlecrypto

Enjin has released a massive news update regarding their Efinity scaling solution. Below are the highlights of the update:

  • Efinity is built on Polkadot for scaling & interoperability
  • Enjin Coin can be staked to earn Effinity token (EFI)
  • Infused ENJ contained inside minted NFTs will be staked automatically, and will passively generate EFI
  • New token standard called Paratokens, which will be compatible with the entire Polkadot and Kusama ecosystem
  • NFT creators will be able to subsidize transaction costs for their customers by depositing EFI tokens into a Fuel Tank (a next-gen feature specific to Efinity)
  • The Efinity parachain uses decentralized governance. Anyone can submit a proposal, EFI holders can vote on proposals & referendums
  • Liquidity – Efinity has unbounded liquidity thanks to automated marketmaker Efinity Swap, enabling swaps for ENJ & ETI

With JumpNet launching on April 6th, Enjin is easily turning into the most advanced and forward thinking NFT solution.

The ability to stake Enjin Coin for passive income should increase the value of the token. What’s also incredible is that Enjin used to create and back NFT assets will be auto-staked.

The Efinity logo now reveals the mysterious “double E” which is two Enjin logo’s mirrored.

enjin efinity

The post Massive Enjin Update – Efinity on Polkadot, Enjin Coin Staking! appeared first on Castle Crypto – Blockchain Gaming News & Reviews 🏰.

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