Place/Date: - June 3rd, 2023 at 10:10 pm UTC · 4 min read
Source: Caged Beasts
We all want money for free, and in an ideal world, it would grow on trees. However, we can generate extra money through passive income. Like most industries, if you put the work in and understand how it functions, you can quickly bolster your investment portfolio without lifting a finger, or at the very least, with little effort.
You can utilize passive income in several ways, but first, you must choose the correct token to ride the wave of the crypto money train. This article will explain the power of passive income and how you can use it within the crypto space, and how Polygon (MATIC), Tron (TRON), and presale meme coin Caged Beasts (BEASTS) plan to make passive income yield profits.
A prevalent form of passive income within cryptocurrency is through staking, which involves participating in the validation and security of a blockchain network.
By locking up your tokens, an investor can contribute to a consensus mechanism and receive rewards, commonly called a Proof-of-Stake (PoS). The trick for high-end passive income is to find a quality Delegated Proof-of-Stake (DPoS) blockchain, such as Ethereum 2.0, Cardano, or Tron, as well as the right coin to stake with.
Tron might be my favourite 80s science fiction movie, but it’s also a blockchain platform for decentralized applications (dApps) and smart contracts. This is where the DPoS consensus mechanism comes in, providing Tron with high throughput, low latency, and energy efficiency. Tron’s DPoS operates through a set of 27 super representatives elected by the Tron community through a vote.
Becoming one of the 27 super representatives doesn’t only sound cool but also lets you receive rewards for participation. They are vital in maintaining the network’s integrity as super representatives secure transactions and uphold the consensus. They are responsible for producing blocks and validating transactions based on further voting power they receive from the community. As the saying goes, with great power comes great responsibility!
Once upon a time, Polygon was known as Matic Network, a fledgling Layer 2 scaling solution built on top of the Ethereum network. Polygon is now all grown up and has adopted its own PoS consensus mechanism, the PoS Chain. This enables Polygon to offer faster and more cost-effective transactions, addressing the Ethereum network’s scalability challenges.
If you want to take advantage of the Polygon PoS, you must first acquire MATIC to become a validator on the Polygon network. These tokens serve as the staking asset on the network, so make sure you hold onto them. Once you have been chosen to validate, it’s time to stake. Also, validators who successfully produce and validate blocks are rewarded with staking rewards. It may not sound passive, but it most definitely is income.
Another critical tool for passive income within the crypto space is caged liquidity, which involves locking or restricting access to a portion of the liquidity in a liquidity pool or protocol. This all sounds very technical, but if you think for a second about several Caged Beasts locked away with 75% of funds until their release date, it may help to decrease confusion.
The team behind the new presale meme coin Caged Beasts have created the new monster of crypto, which will be released by Rabbit 4001 at the appropriate time to fight against the human overlords! This backstory refers to caged liquidity and aims to secure the bulk of community liquidity, safeguarding its future and improving the prospects of the new project.
It’s not just the different approaches to passive income that set Caged Beasts apart from Polygon and Tron. Their new referral programme also helps BEASTS investors and community newcomers gain rewards. Caged Beasts will allow investors to create a unique code for friends and family, and when the new investor invests in BEASTS, both parties will receive a 20% bonus.
Polygon and Tron represent two major cryptocurrency projects that have made significant strides in the crypto space, both achieving a vital role within the passive income movement. However, through passive income, Caged Beasts are ready to roam and release tremendous rewards; Polygon and Tron might have to up their game.
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