🍲Stake

Stake is the only credential required to enter or leave any group.

Welcome to Groop’s Stake Page! Stakes play a crucial role on Groop. Let's uncover how these stakes are more than just access points, and how they're intertwined with influence and exclusivity on the Groop platform.

What is a stake？

A Groop stake is your gateway to exclusive Groop communities. Groop allows anyone to join or leave groups by purchasing or selling group stakes. A Groop Stake is more than just an entry ticket. It’s a symbol of membership, influence, and exclusivity in Groop communities.

Here’s what you need to know:

• Join Exclusive Communities: Access private, gated groups tailored to specific interests or content niches.

• Participate Actively: Engage in unique in-group activities, chats, bounties, and more.

• Trade, Share, or Accumulate: Just like a concert or event ticket, you can transfer, sell, or even gift your stake to someone else, making it a dynamic asset. The more you own, the more avenues open up for you in the Groop universe.

How do Stakes Function?

The Groop Stake is dynamic and multifaceted:

• Dynamic Pricing: Stake values can vary based on demand, community vibrancy, and other platform metrics. Communities that are active and engaging will see their stake value rise.

• Seamless Trading: On Group, you can buy, sell, or trade your stakes. This fluid ecosystem allows users to explore different communities or capitalize on their community engagements.

• Tiered Access: While a single stake might grant basic access, holding multiple stakes can offer enhanced privileges, influence, and opportunities within communities.

The price of group stakes will increase gradually to incentivize early participation in group formation and ensure high-quality groups as more stakes are sold. See Pricing.

In order to accommodate different groups, the group owner has the ability to set a minimum number of stakes required to join or leave the group. When members join the group, the default threshold is set to 100 stakes. However, the group owner can lower the threshold to just 1 stake at any time to make it easier for people to join the group.

Why ERC1155 Powers Groop Stakes

Before ERC1155, there were primarily two popular Ethereum token standards: ERC20 and ERC721. While ERC20 deals with fungible tokens (like most cryptocurrencies where each token is identical to the next), ERC721 caters to non-fungible tokens (each token is unique, like collectibles). ERC1155 seamlessly merges these two functionalities, allowing for a mix of fungible and non-fungible tokens in a single contract.

The ERC1155 standard serves as the backbone for Groop Stakes. Here's why it's pivotal:

• Multi-Token Flexibility: Unlike other standards, ERC1155 handles multiple token types within one contract, offering both versatility and efficiency for these dynamic assets.

• Interoperability: ERC1155 tokens, like Groop Stakes, can easily integrate with a plethora of platforms and services in the larger blockchain world.

• Robust & Streamlined: ERC1155 ensures Groop Stakes are not only secure and traceable but also efficient and easy to manage, especially when dealing with multiple stakes.

One of the standout features of ERC1155 is its ability to process batch transactions, allowing users to send multiple tokens of different types in a single transaction. For a Groop user who needs to hold, say, 100 stakes to access a specific group, this batch functionality is invaluable, ensuring time-efficient and cost-effective transactions.

In ERC1155, each token doesn’t need its unique logic. A uniform smart contract logic can govern a diverse array of tokens, ensuring a consistent and reliable environment. This standardization reduces potential points of failure, making Groop Stakes more secure and dependable. By holding Groop Stakes, you secure your membership in a group. This isn't just a one-time access pass; as long as you retain stakes, your place in the community remains intact. The beauty of this system is in its fluidity. You decide how long you stay by determining how long you hold onto your stakes. As long as you have stakes, you will remain a group member until all your stakes are sold out.