Introducing Staking: 50% of All Trading Profits on CryptoBridge Will go To BridgeCoin Stakers
Everyone that stakes their BridgeCoin(BCO) will receive 50% of the trading profits on CryptoBridge(decentralized exchange).
BridgeCoin(BCO) mining ended on Tuesday the 28th of November. To celebrate this successful milestone we were able to accelerate our development process to have staking BridgeCoin(BCO) on CryptoBridge released today!
Everyone that stakes their BridgeCoin(BCO) will receive 50% of the trading profits on CryptoBridge(decentralized exchange).
Overview
Once you stake your BridgeCoin(BCO) you will not be able to withdraw or trade them since they are now locked until the end of the staking duration(See below) but will instead earn 50 % of the trading profits on CryptoBridge.
During the staking period you will automatically receive bi-weekly payouts to your account on CryptoBridge.
Staking Factor & Duration
The following staking periods are available to choose from to stake BridgeCoin(BCO) on CryptoBridge:
- 1 Month(0% Bonus)
- 3 Months(20% Bonus)
- 6 Months(50% Bonus)
- 12 Months(100% Bonus)
The longer you stake your BCO the higher your staking factor(bonus) will be. Staking for 3 months gives you 20% more additional BCO during staking. If you stake your BCO for 12 months, you would essentially be staking 200%(2X) your BCO.
Profit Share & Payout
As mentioned 50% of the trading profits from CryptoBridge will be distributed between BridgeCoin(BCO) holders proportionally. This can be calculated using the following formula
User BCO Staking/Total BCO Staking in DEX * Profit from CryptoBridge = User Payout
The User Payout will be be paid in each traded coin on CryptoBridge. Users will be able to specify their preferred payout cryptocurrency in a future release.
The more BridgeCoin(BCO) that a user has during staking period the greater percentage they receive of the payouts from the 50% trading profits on CryptoBridge.
Example
— Total BridgeCoins(BCO) Being Staked on CryptoBridge: 500,000
— Bobs(User) total number of BridgeCoins(BCO) to be staked: 10,000
You have 10,000 BridgeCoins(BCO) and decide to stake for 3 Months(20% Bonus). Your staking factor would now be 12,000 BridgeCoins(BCO) where you committed only 10,000 BridgeCoins(BCO) to be staked and received an additional 2000 BridgeCoins(BCO) as bonus towards your staking factor.
12,000/500,000 * Profit from CryptoBridge = Your Payout(Share of 50% Profits from CryptoBridge)
NOTE: The additional bonus only increases your staking factor. In the example above you do not get 2000 additional BridgeCoins(BCO) that you will be able to withdraw or trade. The increase in staking factor is used to reward those that have staked their BridgeCoin(BCO) for longer periods. Meaning stakers will longer periods will receive a greater share of the generated profits.
Staking factor is the same as weighting factor. You can learn more about weighting factor http://www.statisticshowto.com/weighting-factor/
At the end of your staking period you will be able to use the 10,000 BridgeCoins(BCO) that you originally staked.
Start Staking
You do not need to have your wallet open to stake. The only thing you need to do is send your BCO to the DEX and create your staking position.
We created a tutorial to help you easily stake BridgeCoin(BCO) on CryptoBridge. Visit Tutorial: How To Stake BridgeCoin(BCO) on CryptoBridge To Receive 50% of Profits for more details.
