Farcana — United Arab Emirates based Bitcoin shooter game — on September 24 — introduced its staking program. According to the team, the users would need to choose Polygon network for staking their $FAR tokens. In addition to this, users will be rewarded with 60% APR on their tokens.

Earlier on January 23, The FAR Token was officially listed on the Bybit exchange. In light of the launch of the staking programme, $FAR token soared to 24% according to Coingecko.Furthermore, the $FAR token is now ranked second on the Bybit exchange, following EGP1.

Founded in 2022, Farcana recently raised $10 million in seed funding from Animoca Brands, Polygon Ventures, Fenbushi Capital, and Merit Circle among others. It is built on Unreal Engine 5 and Farcana shares a similar graphical style with Overwatch, a team-based multiplayer first-person shooter game by Blizzard Entertainment. The game is understood to operate under a free-to-play model.

On this note, I would like to share a comment from Ilman Shazhaev —- CEO and Co-Founder of Farcana for further information.

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“In recent months, you’ve likely noticed $FAR, the native token of Farcana, experiencing a dip in value.The decline reflects early listing decisions that, while initially driving momentum, highlighted the need for more robust utility within the ecosystem.Until the game goes live, our token has been predominantly driven by speculation—a model that, while effective in the short term, does not build sustainable growth.To address this, we are taking action by introducing one of our meaningful utilities: Staking.

We’re offering this 60% APR to reward our loyal community and early adopters; we want our holders to put their tokens to work while we continue to build out the Farcana ecosystem, slowly but surely.

We understand that many of you acquired $FAR at higher prices, and staking offers a way to regain value as we push toward the release of the game. Hence, the 60% APR is a reflection of our appreciation for your ongoing support and patience.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.”  Ilman Shazhaev —- CEO and Co-Founder of Farcana 

The post Farcana Introduces New Staking Program; $FAR Token Ranks Second on Bybit appeared first on HIPTHER Alerts.

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