EverRise develops cross-chain NFT staking lab

EverRise, a blockchain technology company, developed an NFT staking lab to allow its holders to build on-chain staking contracts. These contracts would connect to another five blockchains. This new development allows users to connect their staked assets over multiple chains and get the maximum profits.

Users need to stake their RISE tokens in the staking lab to create an on-chain NFT of the assets, which can be transferred, traded, and connected to other blockchains, including Ethereum, Avalanche, Polygon, Fantom, and BNB Chain. NFTs can be traded on OpenSea and similar marketplaces via Decentralized Finance (DeFi) wallets.

Staked RISE gives proportional payouts to stakers, which is one way in which users are encouraged through an automatic buyback protocol. This staking lab allows users to search for the top gains over different chains. It has to be noted that staking is allowed only in monthlong increments and hence does not provide optimum flexibility. According to current data, there are 61% of staked RISE tokens across all blockchains, with BNB Chain accounting for approximately 40% of the staked tokens.

EverRise is a blockchain-based platform that intends to enhance accessibility to DeFi by providing bridging and security solutions for several blockchain networks. The EverRise team is composed of crypto enthusiasts with the goal of enhancing the DeFi ecosystem. The company’s ecosystem is geared toward meeting market demand for self-regulated tools and assuring users that the DeFi protocol will live up to its full potential.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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