Farcana, an innovative online shooting game utilizing blockchain technology, has recently introduced a staking feature for its native $FAR token. This staking option allows users to lock up their tokens on the Polygon network and earn a generous interest rate of 60% APR. The purpose of this bonus is to incentivize user engagement and generate interest in the continued development of the Farcana ecosystem.
Following the announcement of the staking program, the $FAR token experienced a significant surge in value, recording a 24% increase on September 25th according to Coingecko data. This spike reflects the growing interest in Farcana’s offerings, with the token ranking as the second most traded asset on the Bybit exchange, second only to Eigenpie’s EGP1. $FAR was officially listed on Bybit earlier this year on January 23.
Ilman Shazhaev, CEO and Co-Founder of Farcana, provided insights into the recent performance of the $FAR token. He acknowledged that previous listing strategies had not effectively utilized the token’s utility, resulting in fluctuations in its value. Shazhaev emphasized that the introduction of the staking program aims to provide tangible utility for the token and reward early adopters. He stated, “Staking is just the first step in creating long-term stability and utility for the token. The upcoming game launch will be a turning point, and we’re building towards that by ensuring that the token already offers value and utility well before the release.”
To participate in staking their $FAR tokens, users can easily log into their Farcana accounts, connect their crypto wallets, and select the Polygon network. This streamlined process enables players to actively engage with their tokens while Farcana continues to enhance its gaming infrastructure.
In a strategic move to support its development initiatives, Farcana recently secured $10 million in seed funding from prominent investors such as Animoca Brands and Polygon Ventures. This financial backing will drive improvements in gameplay and infrastructure, with recent updates including new in-game characters and enhancements to the overall gaming experience.
Established in 2022, Farcana merges storytelling elements with competitive multiplayer gameplay set in a near-future Mars environment. Players control Axelar-enhanced characters participating in a thrilling tournament, with blockchain technology enabling player ownership and rewards. The Farcana team comprises industry experts who have collaborated with local institutions to enrich the gaming experience.
The introduction of the staking program underscores Farcana’s commitment to building a sustainable ecosystem while offering value to its token holders. As the game approaches its official launch, the staking program is poised to foster user loyalty and cultivate a vibrant community around the game.