The Rbit Staking Program for RHOVIT
We have recently delayed the second part of our public sale and listing for a couple of weeks to create and institute a staking program for the Rbit token. We wanted to share with you why this is important and how it works.
First though, the new dates for the sale and listing on ChainX are as follows:
- Sale 2: April 14–25
- Listing Date: April 30
The Importance of Staking
While designing the Rhovit ecosystem, we have been very careful with how many tokens are actually in circulation.
- 87.5% of the total supply is locked within the platform and MINED over a 33-year+ period
- There is a 1 to 2 year vesting period on all tokens held by the Team and Advisors
- Rhovit Reserves are locked for 18 months
What does all of this mean?
It means that even after the completion of the sale, there will still be a very low amount of the total supply of tokens in circulation.
Only 4.6% of the total supply is for sale
We want to take this a step further though by encouraging and rewarding HODLers over a course of 15 months while we release the second phase of the platform and grow our audience along with the token use.
What is the use of the token?
If you have purchased anything in our Rbit Shop, then you’ve probably already used the token to get a discount on merchandise or NFTs. This is just the first use case though, for our beta version.
The real demand for the token will come from Advertisers. The platform features Reward Ads which viewers can WATCH & MINE for tokens.
98% of our daily active users watch ads
The global online ad spend is over USD 560 billion. Reward Ads, which Rhovit features, receive almost double the rate of regular ads from advertisers. Meaning, if an advertiser pays USD 7 per 1000 views just to have an ad featured on a page, they will pay USD 14 for an ad a viewer watched, verified and received a reward for.
Out of the many uses for our token, this is the one that will drive DEMAND. The staking program is to reward our users who hold the token until phase 2 is open and operating and we can build up a healthy ad business.
How Rbit Staking Works
There are 50 million tokens in the staking pools which will be paid out quarterly for 5 periods.
Payout dates:
- August 20, 2020
- November 20, 2020
- February 20, 2021
- May 20, 2021
- August 20, 2021
Payouts are divided into 3 POOLS:
- Silver — Hodl 500 to 5000 Rbits
- Gold — Hodl 5000 to 50,000 Rbits
- Platinum — Hodl 50,000 tokens and above
Payout Pool Amounts:
- Silver — 2 Million Rbits Quarterly
- Gold — 3 Million Rbits Quarterly
- Platinum — 5 Million Rbits Quarterly
Each hodler will receive their share of the pool’s payout based on the amount they hold. For instance, if you are in the Silver Pool and you hold 4,000 Rbits, you will receive a bigger share of the pool than someone who holds 600 Rbits.
Stay tuned for more news. Keep supporting us. Join our community.
