ByTraders! Bull or Bear market, ByTrade keeps on delivering roadmap milestones.
After the successful launch of the BTT token, we are proud to announce that the much community requested and anticipated Staking program has been launched.
The community asked and we delivered! As we all know that staking is a great utility in web3 and must be given priority as such that the community also requested for staking and we delivered!
Building Staking Features
Building staking features is not a small feat to achieve as it takes some considerable amount of time to put together the features of a staking pool/contract.
Staking features includes and not limited to the following, Onboarding, Yield calculator, deposit and withdrawal functions, crypto wallet integration, reports, notifications, referral if there is a need, portfolio management and trading. Achieving and putting in place these features requires time and proper calculations in other to avoid errors which may render the staking pool useless and vulnerable.
$BTT Staking Overview
The entire staking program has different locking days with respective APY, BTT token in rewards from staking will be available after lock period lapses for those registered in the pool. Meaning that once you stake your $BTT, you won’t be able to take it out until the end of the days of lock usually referred to as unbounding period.
“Unbounding is the action of telling the network you want to unlock tokens staked while unbounding period is the designated amount of time that a blockchain delegators waits before having access to unlock or move their tokens”
What is Staking in Web3
Staking is the process of locking up crypto holdings in order to obtain rewards, meaning that you can stake some of your crypto assets and earn a percentage (%) rate reward overtime, this usually happens via a staking pool.
Crypto token and coins holders always look forward to staking as a way of increasing their asset holding for a long period of time, some stake to contribute to a network, to earn more tokens or earn partnership tokens for a project they’re holding.
Staking also contributes to the security and efficiency a crypto project.
ByTrade Toke BTT Staking Pool Breakdown
Staking pool URL: staking.bytrade.io
Minimum Stake: 100 BTT
Total rewards for staking period: max of 120 APY
30 days lockup apy is 1.5%
90 days lockup is 6%
180 days is 15%
365/366 days is 40%
732 days is 120%
The sooner and the longer you stake, the more the reward. i.e. staking from the first day will bring more rewards compared to someone who joined after 30 days while staking for longer days return more reward than shorter days.
Staking Pool APR
The staking program APR is climaxed at 120% for a 732 days staking period.
The APR remains the same regardless of how many investors subscribed to the staking program.
After the unbounding period, participants will be able to claim their total reward, Staked $BTT and reward from our website.
Countries restricted
There is no country restricted from participating in the ByTrade staking program.
Disclaimer:
Cryptocurrencies trading, buying, selling, holding, and staking are considered to be high-risk activities of losing funds and are subject to market risks, high volatility, cyber risks, and more. All the figures stated above are examples for informational purposes only and do not necessarily indicate the actual performance.
Staking AMA
AMA Session about the staking program has been conducted and many AMA about the staking program would be conducted as the program continues.
About ByTrade
ByTrade is a new cryptocurrency centralized exchange coming out with new innovation and ideas to tackle some common problems in the cryptocurrency world in particular, the way cryptocurrency is being exchanged on the centralized exchange platforms.
ByTrade itemize some common problems in its whitepaper such as lack of liquidity, lack of industry knowledge, financial incapability to low-come households, etc. bytrade called this Pain Point of Cryptocurrency exchanges and offers legible solutions to the pain points in its core value.
For more information.
Official Website
Official telegram
Official Discord
