Gem Staking is essentially a final element of engagement-to-value conversion of the Yuser economy. We allow Gems to be earned in place of likes, collected, and stored in the user’s wallet. Gems are not a crypto token. They can be likened to a video game coin. The benefit of that is that they don’t require wallet ownership, any understanding of web3, their transfer is instantaneous and mobile-friendly.
The drawbacks are that they are not immutable and exchangeable outside of the Yuser ecosystem. That’s where Diamonds come in.
To convert Gems to Diamonds, you need to stake them into our staking pool. There is an internal formula that governs the distribution of Diamonds. To avoid any issues with the system being prone to exploitation, this formula is stored-off chain.
[We will go into more details on how other app developers can plug into the Yuser ecosystem and use various on- and off-chain elements of the Yuser protocol in the subsequent articles that specifically go over the protocol.]
Our first staking pool stakes Gems against the performance of the Yuser app itself. The better the overall performance of Yuser, the better Diamond rewards are distributed to the stakers.