Cookie DAO Introduces New Staking Rules and Token Burn

BlockBeats News reports on Cookie DAO’s release of new staking and MAF rules, including a token burning mechanism, effective July 11th. Cookie Snaps rewards are now part of the allocation for COOKIE stakers.

The introduction of these measures marks a shift in Cookie DAO’s reward strategy, emphasizing participation in Snaps over traditional staking rewards. The changes aim to increase token scarcity and drive ecosystem growth through enhanced tokenomics.

Cookie DAO Unveils 10% Token Burn with New Staking Model

Cookie DAO’s latest update involves a new staking framework and token management strategy. Announced via its official channels, the introduction of a COOKIE token burning mechanism significantly impacts its deflationary model. When COOKIE tokens are locked in the MAF pool, 10% are burned before release. COOKIE stakers can earn Snaps rewards, with 10-20% of the rewards pool from Cookie Snaps activity allocated to them. With hundreds of projects launching Cookie Snaps, over $5 million in total rewards is confirmed, benefiting COOKIE stakers with approximately $1 million in rewards.

Market Reactions have been varied, with potential ripple effects as investors assess the implications of the deflationary burn. Cookie DAO continues to push the boundaries of its platform’s tokenomics by prioritizing Snaps participation for rewards. High engagement is noted on social platforms:

Cookie DAO described the new setup as one of “endless airdrops” for participants partaking in its Snaps activities.

COOKIE Tokenomics: Market Surge Despite Recent Volatility

Did you know? Cookie DAO’s innovative Snaps reward strategy mirrors previous industry techniques that surged engagement by an estimated 150% in projects like LayerZero and GMX.

According to CoinMarketCap, COOKIE is trading at $0.18 with a max supply of 1 billion tokens. Currently, 547.67 million tokens circulate, placing its market cap just under $100.35 million. Recent price trends show a 115.60% surge over 90 days, despite a 28.97% dip in the last 30 days, while the 24-hour trading volume grew by 103.52%, indicating vibrant market interest following these announcements.

Coincu insights point to the possibility of sustained investor interest in COOKIE, driven by scarce supply economics and the enticing rewards model. Historical trends from similar projects suggest the potential for heightened demand. Shifts in regulatory and technological landscapes could also influence future adoption and integration, with the project’s DeFi-focused strategies proving pivotal.