Introducing the Swingby BNB staking competition - with a $150,000 giveaway!
It is that time again! The Swingby team is pleased to announce a new giveaway competition on the Swingby platform, and this time it’s 15 times bigger than before!
In honour of Binance.com celebrating its 3rd birthday.
Starting today at 16:00 UTC 30th June 2020 Swingby will run a BNB staking competition on our Swingby Staking Portal. The competition will run for the next four weeks and, as part of it, we will give away $150,000 USD of SWINGBY tokens in staking interest!
How does it work?
In order to introduce the Swingby self custody staking portal, we’re kicking off with a huge staking giveaway to reward BNB holders in our community.
Here’s how it works.
On the Swingby Staking Portal, we have added a new option to stake BNB directly in your wallet with the Swingby Self Custody Staking program. That allows you to stake your tokens without ever moving them out of your wallet, or locking them up.
For the next four weeks, Swingby will run a Pre-Staking program for BNB holders to self-stake their BNB tokens and earn interest paid out in SWINGBY tokens.
We’re running this campaign to introduce the self-staking program and the Swingby Pre-Staking Portal to our community, ahead of the SWINGBY token pre-staking program as outlined in our roadmap.
Secondly, the giveaway will reward BNB holders in our community and let our community members earn a healthy interest on their BNB tokens.
The total pool of interest to be given away is a whopping $150,000 USD. You’ll be able to earn up to 35% APR on your staked BNB.
The minimum requirement to start staking is 10 BNB tokens, the maximum stake per wallet is 1,000 BNB tokens.
The staking interest pool starts at 15,000 SWINGBY tokens, but rises as the more BNB is staked, in order to incentivise sharing to the program and to encourage more staking, with the following milestones (assuming $16 BNB):
How can I participate?
To get started, simply follow the Swingby Pre-Staking Program and self-stake your BNB tokens with the staking memo code during the campaign’s operation.
The fastest and easiest way to do that is to use the Swingby Pre-Staking Portal to build your self-stake transaction and then pre-stake your tokens directly in your own wallet.
Be sure to check back every week to re-stake your tokens again for the coming week as each stake expires following the weekly payout.
Are my staked BNB safe?
Yes. The unique Self Custody Staking program that Swingby has developed means that your tokens never leave your wallet, and are never locked or frozen by any third party. Your tokens remain yours to move, spend or send at any time. However, once moved, they will no longer be “staked” and therefore unable to earn interest unless they are re-staked.
Why are Swingby giving out free money, what’s the catch?
Swingby is incentivising our community to grow familiar with the Swingby Pre-Staking Program and the Swingby Pre-Staking Portal. We are also running a qualified airdrop program for those who choose to opt in.
How do you value the SWINGBY tokens?
For this campaign, each SWINGBY token is valued at $0.03, that’s the public sale price given in our public sale documents.
Where can I trade my SWINGBY tokens?
SWINGBY tokens have already been approved by a notable exchange within DeFi community for listing in early Q3 2020. Our listing announcement to be published by the exchanges closer to the time. Sadly we are not able to disclose any further details about the exchange listings at this point. Stay tuned for more soon.
How does the Swingby Self Custody Staking work?
The unique Self Custody Staking program that Swingby has developed allows token holders to stake their tokens whilst never sending them to a third party or locking them up outside of the holders own wallet and control.
You can read full details of how this works in our Medium post: Introducing Swingby Pre-Staking
How does the Swingby Pre-Staking Portal work?
The Swingby Pre-Staking Portal is an easy to use interface that helps build the self-send transaction to stake your tokens for the Swingby Pre-Staking program. This helps hodlers self stake their tokens with easy to follow on screen prompts. Full details of how this works can be found our Medium post: Introducing The Swingby Pre-Staking Portal
What are the milestones and interest pool breakdown?
The detailed breakdown can be seen below
My stake is not showing on the leaderboard, is it staked?
If your staking tx was sent with the memo and you have not since moved the tokens, then your stake should be set. The leaderbaord on the BNB staking takes several hours to reflect the current state due to the large number of BNB holder wallets it has to scan.
If you want to double check if you are staked, send the transaction ID in the community Telegram or WeChat group and the Swingby team will check for you.