Introducing the Signum Blockchain's New Staking Contract Standard: Easy, Flexible, and Secure.
Staking Contract Standard
The Signum Blockchain has just released a new staking contract standard (SIP-45) that offers users an easy and secure way to stake their favourite tokens on the network. This new standard is designed to make staking more accessible and flexible, allowing users to customize their contracts based on their preferences and needs.
With this new staking contract standard, users can now stake any token of their choice, as long as the contract's creator has defined it as a pledgeToken. Once a user submits their pledgeToken to the contract, it will automatically mint a stakingToken and send it to the user's address. This means that users can easily stake their tokens and earn rewards without worrying about the complicated process of creating a new token or setting up a new staking pool.
Parameters as you need
The new staking contract standard introduces a range of customizable parameters that allow contract creators to tailor their staking contracts to their specific needs. These parameters include:
- The payment interval is the minimum number of blocks between reward distributions.
- A minimum amount of Signa is needed to trigger a distribution.
- The maximum amount of Signa that can be distributed per interval.
- A minimum number of stakingTokens is needed to be eligible for distribution.
- Staking contract expiry, which is infinite or set date in the future.
- yieldToken to distribute (in addition to Signa).
- The Signa ratio is the fixed ratio of staking tokens to Signa rewards.
- The token ratio is the fixed ratio of staking tokens to additional token rewards.
- Lockup period for tokens transferred to the contract.
The Signa Ratio and Token Ratio parameters are especially valuable, as they provide a transparent and predictable way for users to calculate their potential earnings from staking. Contract creators can ensure a fair and transparent ecosystem by setting a fixed ratio of stakingTokens to rewards.
Automated distribution of rewards
Another great feature of the new staking contract standard is that it allows stakingToken holders to earn rewards from any payment made to the contract address in Signa or yieldToken. The distribution of rewards is automated based on the parameters set within the contract.
Easy setup
One of the biggest advantages of this new staking contract standard is its incredibly easy use. SignumSwap, the official portal of the Signum Blockchain, has a built-in wizard that guides users through setting up a staking contract. Users can simply enter the parameters they want, and the contract will be deployed in one transaction. All that is left is to send a small amount of Signa to the contract, ensuring that the stakingToken can be minted.
Conclusion
In conclusion, the new staking contract standard on the Signum Blockchain offers users an easy, flexible, and secure way to stake their tokens and earn rewards. With the ability to customize various parameters, receive automated rewards and use the built-in wizard on SignumSwap, staking has never been easier or more accessible.
So why not try it out today and see how easy it is to start earning rewards on the Signum Blockchain?
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