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IQ Holders Stake a Record 2.5 Billion HiIQ
Mon Jan 23 2023
IQ holders have staked a record 2.5 billion HiIQ, with the majority of stakers locking up their tokens for over 3 years. IQ holders have staked more than 700 million IQ tokens with HiIQ.
The APR is currently over 170% as of writing. IQ stakers earn IQ token rewards and the chance to win NFTs in NFT raffles. This guide explains how to start staking IQ with HiIQ.
Back in November 2022, IQ announced the IQ token’s new halvening tokenomics model which triples the rewards for IQ stakers and increases the rewards for early contributors to IQ.wiki over the next 12 months. This model provides higher initial emissions to incentivize early adopters and gradually lowers emissions to ensure long-term sustainability. The IQ stakers who collectively make up BrainDAO voted in favor of the new model with the IQIP-14: New IQ Tokenomics for the New IQ.wiki Platform proposal passing with an overwhelming majority of votes.
HiIQ was created to incentivize IQ holders to become long-term holders who stake and lock up their IQ tokens with IQ token rewards and NFT raffles. The HiIQ staking system allows IQ holders to choose how long they want to lock up their IQ for, the more IQ and the longer they lock up their IQ for the greater the number of rewards and the greater chance they will have to gain limited edition NFTs. Most importantly, HiIQ holders will be able to determine IQ.wiki’s course of action in the future by participating in governance.
This news comes at a perfect time as IQ saw a record-high 24-hour volume of over $380,000,000 last week on January 15th according to CoinMarketCap data. In addition, the BrainDAO treasury reached a new milestone of staking over 1000 ETH through Frax Finance’s liquid staking. This brings revenue to BrainDAO as all profits generated from Frax Ether validators are distributed to sfrxETH holders like BrainDAO. Frax Ether is here and the BrainDAO treasury now has over 1000 Staked Frax Ether which is equivalent to more than $1.7 million as of writing. The BrainDAO treasury continues to exponentially grow its war chest as it now has over $10 million in total assets as of writing. The IQ token is backed by the BrainDAO treasury and the treasury is fully governed by IQ token stakers. BrainDAO holds a diversified portfolio of IQ tokens, Ethereum, stablecoins, blue chip NFTs, and other assets.
The IQ token powers a knowledge ecosystem including applications such as IQ.wiki, the world's largest cryptocurrency and blockchain encyclopedia. IQ is a DeFi and governance token with native staking enabled through HiIQ. The token is governed by BrainDAO which also includes BrainDAO's treasury of digital assets.
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