Battle Infinity Crosses $3 Million in Locked Staking as APY Blasts to 12%
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The new play-to-earn cryptocurrency, Battle Infinity, is currently trending after the release of its IBAT staking protocol. Providing a high APY of 12%, Battle Infinity has crossed over $3 million in locked staking.
IBAT Battle Stake and 12% APY
One of the top new cryptocurrency projects in 2022, Battle Infinity (IBAT), offers multiple play-to-earn (P2E) elements via its decentralized network. Players can monetize their experience on Battle Infinity by staking IBAT – the native cryptocurrency.
On 24th September 2022, Battle Infinity’s official Twitter handle tweeted, confirming that their staking platform is live. Termed the IBAT Battle Stake, players can conduct solo staking activities to lock up their IBAT tokens for potentially high APY.
Moreover, players can access duo staking options – where any token can be paired with the IBAT token to earn interest. Only 2 days after going live, Battle Infinity has confirmed a locked staking value of over $3 million on the platform.
One of the best altcoins to buy now, IBAT offers a staggering 12% APY (Annual Percentage Yield) on flexible staking. With flexible staking, users are free to unlock their staked IBAT at any given period. On the other hand, locked staking can lead to higher yields, depending on the length of the lock-up period.
For example, staking IBAT for 30-day lock-up period results in 14% APY. The APY increases to 17% for 90 days, 20% for 180 days, and as high as 25% for a 360-day lock-up. Thus, over 722.3 million IBAT has already been deposited for locked staking activities.
High APY Makes IBAT Bullish
With a total supply of 10 billion IBAT, nearly 10% of all tokens have been staked in either flexible or lock-up staking options. The high APY make IBAT one of the best long term cryptocurrency projects to invest in 2022.
Due to the high number of locked tokens, the token supply available to trade will be heavily reduced. Therefore, investors are likely to attract higher trading volumes on the limited amount of IBAT available to buy. As the supply reduces, it is possible for the demand for IBAT to rise in the long run.
Therefore, the staking platform may help increase the trading volumes and potentially lead to further upwards price momentum for Battle Infinity’s IBAT. Currently, IBAT is trading at $0.0035 per token.
