$RITE Staking Guide & FAQs

Dixie Biscocho
ritestream
Published in
7 min readFeb 8, 2024

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You can stake your $RITE Tokens in 5 easy and simple steps. We recently added the Tier System for the ritestream ecosystem. Read to know more.

  1. Visit the official staking website https://staking.ritestream.io/
  2. Connect your wallet (MetaMask, Ledger, WalletConnect) and ensure it’s set to “BSC/BNB Chain.”

Need help finding your wallet? Click on “Why don’t I see my wallet? Click here to learn more.”

Next, on the Token Staking page:

3. Choose your preferred staking pool:

  • $RITE/USDT LP Pool* (20% $RITE Rewards, tokens locked for 180 days)
  • $RITE for 180 days (5.13% compounding $RITE Rewards, tokens locked for 180 days)

4. Specify the amount of $RITE and USDT to stake.

5. Click “Enable” and approve with your wallet, then “Deposit” (ensure wallet approval). Always keep enough BNB for gas fees.

*For LP staking, choose “Enable $RITE” and “Enable USDT” then click “Deposit” (ensure wallet approval). Always keep enough BNB for gas fees.

After staking, view your participation in “Staked Pools.”

And you are done!

*DISCLAIMER: Once you stake your tokens for 180 days, you cannot unstake the tokens before the 180 days are up.

How do you purchase $RITE Tokens?

If you haven’t bought $RITE Tokens yet, visit these links:

Contract address: 0x0808Bf94d57C905F1236212654268EF82E1e594E

How do we calculate allocations for staking in LP and staking $RITE only?

The staked amounts in each pool determine your allocation in the Film and TV Launchpad and CryptoKnights Launchpad. It also affects the benefits you can get from riteApp and ritestream+.

If you stake $RITE only, for example, 25,000 $RITE, we calculate your allocation based on 25,000 $RITE.

If you do Liquidity Staking, for example, 1000 USDT: 25,000 $RITE (assuming a $RITE price of 0.04 USDT), we will calculate your allocation as if you staked 100,000 $RITE (Liquidity Staking gives you a straight 4X multiplier on the amount of $RITE staked).

FAQs

Staking Process:

Q: Can I view my stakeholder participation in my wallet?

A: Yes, you can see what you staked, just connect your wallet at https://staking.ritestream.io/

Q: Is staking from CEX possible?

A: To participate in staking, you must transfer your assets from the CEX to a wallet.

Q: What are the requirements for staking in the liquidity pool?

A: You need $RITE and USDT.

Q: Is it possible to stake with a cold wallet like Ledger Nano?

A: Yes, it is possible.

Q: What if someone wants to unlock before the 180-lock pool is over?

A: No, it is only possible to unlock after completing the 180-day lock pool period. Staking commitments are bound by the duration specified, and early unlocking is not supported.

Q: Is there a Cooling Period for claiming?

A: There is no cooling period, but the withdrawal is staggered based on when you joined the pool.

Q: When the Staking Campaign finishes, will I receive my tokens automatically?

A: No, you need to claim it.

Q: What happens if someone wants to switch from one pool to another, from $RITE to LP, for example?

A: It can only be exchanged once the lock period ends.

Q: Is there a tax to unstake the tokens and are there any fees associated with all transactions?

A: No, there is no tax and fees however gas fees still apply.

Q: Will there be other staking periods in the future?

A: Keep an eye on the ritestream announcement channel for updates.

Staking Pools and Differences:

Q: What is the difference between LP and regular $RITE staking with an example?

A: Users staking on liquidity pool are liquidity providers (LP) and earn a portion of fees from each transaction. If you do Liquidity Staking, for example, 1000 USDT: 25,000 $RITE (assuming a $RITE price of 0.04 USDT), we will calculate your allocation as if you staked 100,000 $RITE (Liquidity Staking gives you a straight 4X multiplier on the amount of $RITE staked). If you only hold $RITE, participating in standard staking involves wagering that amount of $RITE to earn rewards.

Q: Why are there no NFT staking pools active?

A: ritestream has yet to issue any NFT. It will be available when we will issue NFTs. Keep an eye on ritestream Announcements for updates.

Q: Do we need to stake in LP to participate in upcoming launchpad projects?

A: Not necessarily. Participating in the launch of new projects doesn’t require staking in a liquidity pool.

Staking Benefits and Allocations:

Q: What are the benefits of staking?

A: Staking unlocks benefits for the five pillars of the ritestream ecosystem. You can check the medium article for the full benefits of staking.

Q: Will gains be received in $RITE or USDT in the liquidity pool?

A: All gains are represented in $RITE.

Q: What is allocation in the context of NFT launches?

A: It refers to the quantity of NFTs you can buy at the launch.

Q: Does anyone who stakes get an early allocation, or does it depend on the amount staked?

A: It depends on the amount staked.

Q: Does it matter how much I stake?

A: Yes, it matters in terms of allocations and benefits.

Q: When can I get the 2x allocation multiplier?

A: Exclusive 2x allocation multipliers are reserved for all pools created on January 30th, 2024. The other way to get this unique benefit is if you acquire our special NFTs. Obtain these NFTs through random events, such as answering quizzes, to unlock the 2x boost feature.

Liquidity pools are still open. Liquidity Staking gives you a straight 4X multiplier on the amount of $RITE staked. 5M and 20M staking pools are already filled.

Q: If, even without staking, people can join launchpad projects, what are the benefits of staking now or in the future?

A: When you stake, participants are exempt from the 20% fee and receive early allocations, while fees from non-stakers contribute to burning $RITE tokens. Non-stakers will have access to leftover allocations. We are refining details, but stakeholders are confirmed exempt from this fee.

Q: What are the benefits of the Launchpad for the individual who stakes?

A: Staking your tokens will give you discounts, airdrops or rewards, allocations and other benefits. Always watch out for our updates on our announcement channel https://t.me/ritestreamchannel.

Computations:

Q: Is the staking and compounding % per month or overall the 180 days?

A: The percentage is based on APY (Annual Percentage Yield).

Q: What’s the percentage going to be?

A: For the LP 20% APY, and the staking Pools, 5.13% APY.

Q: I need an explanation about the calculation.

A: Calculation is based on APY. The APY is spread over 365 days. So if the APY is 5%, you would get 2.5% over 6 months. Sample computation is attached below:

Q: Do you count my APY when calculating allocations?

A: Yes, the longer you stake and accumulate APY, the bigger your overall allocation becomes.

Q: Are specific amounts necessary for certain levels, or is it a general calculation of the total staked amount?

A: It’s a general calculation; there are no levels.

Miscellaneous:

Q: What is the bounty function?

A: This is not your staking reward. This function allows the users to get additional rewards through compounding. The Bounty function can be triggered by depositing, withdrawing, or claiming. The function updates everyone’s rewards by compounding them, following the APY.

Q: How does compound bounty work?

A: Compound Bounty is a unique feature that allows users to maximize their staking rewards through active participation. By clicking the “Claim Bounty” button, users trigger a process that collects accumulated rewards from all staked tokens. These rewards are reinvested, compounding the staked assets for even higher returns.

The user who activates the compounding effect receives a bounty, which resets with each claim to compound rewards for all stakeholders. Compound Bounty incentivizes users to participate actively in the compounding process and maximize their stake rewards.

Q: What is the need to activate transactions for USDT and $RITE through two independent approvals before proceeding with a third transaction to authorize the deposit when adding liquidity?

A: Before being able to trade or provide liquidity for a specific token, it is necessary to “enable” that token. This is common and is done to confirm that you are aware of the token’s features and are willing to interact with it.

Q: Is staking safe? Or is there a chance of loss?

A: Staking is safe.

Q: How long does it take for your stake amount to show up on the staking platform? My $RITE is gone from my MetaMask but has yet to appear on the staking site.

A: Consider refreshing the page if your $RITE tokens are no longer in your MetaMask but have yet to appear on the staking site.

Q: It only took $RITE from my Account 1 in MetaMask. I have more in Account 2 but I can’t figure out how to stake that. Do I have to move it to Account 1?

A: Preferably, yes, although in your MetaMask, you can select your second account before connecting your wallet.

Q: How much supply reduction after everything staked today?

A: You can go to staking.ritestream.io to check the total $RITE locked.

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