Decentralized video publishing platform Verasity have launched its June staking competition for its budding community. The announcement was made on twitter with Verasity offering community members the opportunity to win one of the converted staking slots in the competition.
According to the report the blockchain project had consulted with its community and received feedbacks with the staking competition the most popular request from its community. There would be 50 staking spots on offer with the competition set to begin on the 8th of June and last for a week.
Users can win a staking spot that would earn VRA daily at 0.1% or an aggregrate earnings of 36.5% per year. The winners would be selected from the top 45 wallets with the largest increase in VRA/VRAB within the time frame (June 8 to June 15) while five additional wallets would be selected randomly.
To apply for the staking competition, participants would be required to fill the Google form and include staking claim amount. Participants must have enough VRA/VRAB tokens in their main VeraWallet account to meet the claim made on the Google form by June 15th or risk cancellation of staking spots.
Staking claims would be staked from the participant’s main VeraWallet and the increase in VRA would be determined by the balance in participants at the end of the competition.
Participants will be notified within 7 working days after the competition if they won a staking position or not. Participants will also be able to see if they won by checking their staking wallet.
Verasity is currently valued at $0.000489 per unit and has a marketcap of $1,898,876 and a circulatory supply of 3,881,289,143 VRA. This makes it an excellent coin to invest it as it is cheap to buy and represents a decent investment with a lot of upsides.