This portal is designed to reward early stakers in a BIG way. The sooner you get in, the more you earn. Once you stake into this pool you earn a percentage of all BIZ staked after you.
When someone stakes their BIZ into the pool, it is distributed to all pool holders proportionally (including themselves). So if you stake a brand new 2,000 BIZ into a pool with only 2,000 BIZ in it previously, that would bring the pool total up to 4,000 biz. You would instantly get rewarded your 1,000 BIZ (50% of your stake, since you have 50% of the pool volume) and the remaining 50% would be split proportionally to the other pool stakers.
You can deposit and withdraw at any time! Notable that doing this changes your pool percentage and future rewards.
With a Fixed-supply model, circulating supply will get sucked up faster than a bat out of hell with people staking all of their BIZ tokens into this pool. The value of BIZ will likely increase due to the significantly reduced circulating supply and buy pressure.
FAQ:
Q: How can I stake my BIZ?
A: Bizcoin Stake runs on the Ethereum network and uses the BIZ ERC-20 token for Staking and reward payouts. You can connect metamask on desktop or Trustwallet on mobile to stake BIZ. While you Stake BIZ, you collect BIZ rewards from the BIZ that others Stake after you. When you withdraw your rewards, your Stake is complete and you stop collecting rewards.
Q: Who controls the keys for the stake system? Can someone walk away with my BIZ?
A: No one controls it, your money is locked into a fully transparent and auditable smart contract. A smart contract is a set-in-stone piece of programming language that was submitted to the Ethereum (ETH) network. The smart contract handles all ETH autonomously without any form of human input, and its calculations and functions are confirmed across thousands of computers across the world before they are run. Bizcoin Stake is entirely powered by a smart contract. A smart contract, once deployed, is immutable which means that the code cannot be changed by the contract creator.
Q: What determines my stake rewards?
A: You recieve rewards proportional to the percentage of the entire pool of everyones staked BIZ. For example, if you have 1 BIZ staked and the total amount of BIZ staked is 10, you will earn 10% of the BIZ that is staked by the next user. As more users Stake, your portion of the rewards will decrease. As users withdraw their rewards, your portion will increase.
Q: Can I stake BIZ on my phone?
A: Yes! You can install Trustwallet on iOS or on Android and enter your same seed words from Metamask to have full access to your metamask account via our mobile interface!
Q: Won’t the ecosystem stagnate, once everyone puts in their BIZ tokens?
A: Once the deposit rate slows, some people will likely “take profits”. This means they will raise the percentage holdings of everyone else, and put a bit of sell pressure, for someone else to come and buy the BIZ at a discount. A perpetual system.
