For Crypto.com users who enjoyed the mouth-watering return-on-stakes through crypto earn since its launch, the recent revision of the interest rate is a huge blow. Some of the earn rates on tokens and stablecoins are now as low as 0.5% depending on the amount you stake. Flash rewards are one of the crypto.com offers on crypto earn you will want to exploit. The downtrend of the crypto market in the past months has put pressure on lots of crypto projects most especially DeFi platforms. With more DeFi platforms facing financial crisis due to the market trend, it is risky to still expect to earn a high yield on staked tokens.
Crypto.com flash rewards come with occasional offers to earn a high yield on your staked tokens on crypto earn. While this offer is location-bound, time-bound, and random, you should exploit it while it lasts.
What are Flash Rewards?
Flash rewards are a time-bound occasional feature in Crypto Earn where you can earn a higher rate on a locked token. Unlike regular crypto earn tiers; flexible tier, 1-month fixed, and 3-month fixed, you only need to lock a token for the flash reward for a short time (7-days,14-days).
For instance, there is a new DOT flash rewards campaign that will require users to lock the DOT token with a 16% p.a rate. The lock-up period for the campaign is 28 days and it is open to all users who have not surpassed their maximum earn allocation. The campaign will last till 15th August 2022. Crypto.com users in the U.S, U.K, Canada, Japan, and Korea, can not partake in the campaign.
How do flash rewards work?
You can find details about the token available for flash rewards on Crypto.com’s Crypto Earn page. Crypto.com also regularly uploads details and requirements for the next flash rewards on its social media pages.
The following information will be attached to each flash rewards campaign:
- Campaign coin: this section will contain the coin you need to stake for the flash reward
- Campaign period: this will give you the start and ending date of the campaign. For instance, the DOT campaign will start on 18th July 2022, and end on 15 August 2022.
- Required lock-up length
- Maximum allocation per user: this will state the maximum amount you can lock during the campaign. For instance, the DOT campaign has a maximum allocation of 80 DOT per user. So, the highest amount any Crypto.com app user can stake for the campaign is 80 DOT.
- Minimum allocation per user: The minimum allocation per user is the minimum amount you need to stake for the campaign. For example, you need to stake at least 1 DOT for the DOT flash rewards campaign.
- Aggregate campaign cap: This is the total cap on an aggregate of allocations for a campaign. When the aggregate cap for a campaign is reached, the campaign will stop being available to new users. For instance, the DOT campaign has an aggregate cap of 500,000 DOT. When the campaign reaches the aggregate cap, users will no longer be able to allocate their token; the campaign will be locked.
Five important things you should know about Crypto.com Earn Flash reward campaigns
- The flash rewards program is available to all Crypto.com users. However, a user must have complete Crypto.com’s KYC procedure and all other verifications to be eligible for the campaign.
- Users who have reached their maximum earn allocation will not be able to participate in a campaign.
- Flash reward campaigns are often location bound and are not available to all users in which crypto earn is not available. If Crypto.com Earn is not available in your location, you can’t benefit from flash rewards. Also, you should check if your location is not restricted for a particular flash reward campaign.
- You are only allowed one active flash reward campaign at a time.
- Flash reward campaigns don’t count towards your tiered rewards quota.
Instead of worrying about the slashed interest rate across the Crypto.com rewards programs, you should look for ways to exploit the other available options to keep earning. In the end, it is how much you can make off the crypto programs that matter.