Staking my first 10k $BULB and why I believe in bulpapp.io

MXMp...HPV9

5 Jun 2024

387

Date 5th June 2024 ~ I have noted that date .... for reasons see below!

Hello Hello Bulbers and and all people of the world that are not bulbers!

Today was quite the occasion for me on the web 3 blogging platform that is bulbapp.io

Let's do a quick recap for the non crypto savvy amongst us.

What is meant by staking in the crypto world?

❌ It is not staking a wooden stake through a vampires heart
❌ It is not eating a big fat juicy ribeye steak
☑️ It is where we agree to lock our tokens up to gain extra rewards

It is a great way to earn passive income and we become HODLers when we do it.
We cannot sell our tokens until we unstake our tokens.

By staking our tokens, we take them out of circulation which could potentially increase the value of the remaining tokens. This can signal confidence in the token's future. Pump anyone ....

No, but seriously it indicates our confidence in the token and project behind it!

The bottom line is that by staking BULB I will earn passive income on my BULB crypto and gain points multipliers while I show support for the BULBapp platform!

That's a win - win in my book any day of the week (or should I say epoch as we are talking crypto now!...)

How did I stake my 10k?

Simples and I will walk us through the process...

First up I am logged into Bulb, and my little profile shows 11K in tokens.

For info, the minimum amount to start staking the token is 10k.

It really is intuitive so let's click staking and get filling in ...

The first thing of course is that we get our wallet connected. For those of you outside of Bulb then the Bulb app and hence Bulb token are on the Solana blockchain.

So we can have our wallets to store our Bulb in either Phantom, Solflare or a recent addition Saros...

Whilst I have a Solflare wallet, I connected to the bulbapp with BULB tokens in my Phantom wallet ...

After you connect to your wallet, the staking screen comes up, it was a no brainer for me, I wanted to stake 10k which was what easy peasy, just click the MAX oval button....

The slider goes all the way to the right, and I check the Agee and Consent box and then BOOM hit the Stake button at the bottom..

Did you see the new amount staked, the new earnings share and the new points multiplier?

You know what they say ....

Money breeds money ... or money makes money ...

Or for us ...

Bulb grows into more Bulb!

The transaction goes through and we are shown both the platform stats as well as ours stats!

It feels good to start getting some skin in the game!

Why do I believe in Bulb enough to take tokens?

First things first, there has been a purge and clean up of scammers and bad actors. This should attract writers who want to read and readers who want to read and engage.

If you look at the table below, then you can see that by staking tokens you get a multiplier so can your can earn more points by performing the actions as detailed below...

The team .... the BEST team for Bulb...

Okay so that was a wee pun or inside joke as the founders are called BEST and brothers I believe ....
They are also Australians or based in Australia, so there is no English langauge problems. Well if we understand Aussie speak that is.

I am not sure yet of who is in the moderation team or how it works, but we can all play our part and report posts or comments, which is a good thing.

So with all this in mind, I had no doubt about staking my first 10k of Bulb tokens...

There we have our BULB token chart.

The token was only released onto the market a couple of months ago. The big dump came when people who earned Bulb over the last couple of years sold them off. The next wee dump came at the end of May / beginning of June and that is from those spammers and bad actors that have effectively been nuked by the team.