Introducing TSX Staking
An important step in our ultimate goal of entrusting the development of the TradeStars ecosystem in the hands of our community members.
We’re delighted to announce the launch of our TSX staking program. This is an important step in our of entrusting the co-ownership of the TradeStars ecosystem in the hands of our community members.
What is TSX?
TSX were introduced in May 2021 with the mission to become the cornerstone of the TradeStars economy, and as the main driver for our platform to become the first Fantasy Sports game owned by its users.
All transactions happening on the TradeStars ecosystem uses TSX as the as principal medium of exchange. Also TSX is our governance token.
TSX tokens can be purchased from prominent cryptocurrency exchanges, such as MEXC, Uniswap and PancakeSwap, and they can also be won as gameplay rewards in the DFS (Daily Fantasy Sports) contests that we’re hosting on a regular basis.
TSX Staking
Staking is a way for us to reward our community members who are with us for the long haul and shows their support by locking up their TSX tokens. In the future, staking TSX will be required to secure voting rights over issues related to platform development and usage of the company reserve.
We have created a simple Staking Dashboard where you can stake or un-stake your TSX and claim your staking rewards. There is no lock-up period or minimum stake required. Feel free to stake as much TSX as you want, and un-stake them whenever you wish to.
For guidance on how to use the staking dashboard please reach out at https://tradestars.gitbook.io/tsx-staking
Staking Economics
The TSX staking program will start with a distribution of 0,14 TSX per second, which is 12,096 TSX per day and a total of 4,415,040 TSX for the first year. At this initial rate the program will distribute 22,000,000 TSX in approximately 5 years.
There are currently around 13,500,000 TSX tokens circulating, with the rest of the supply to be released over time through staking, gameplay rewards, and ecosystem reward structures. It is important we ensure releasing these tokens over time so that everyone in the community has opportunities to hold a piece of the TradeStars universe.
The staking rewards can be claimed at any second, and the Annual Percentage Rate (APR) for the staking pool is calculated based on the release rate and the total staked allocation.
APR = Annualized Rewards / Total TSX Staked
Of course, the early stakers will be able to enjoy a higher return on their deposits. As more and more TSX holders stake their tokens in the future, the APR is likely to reduce. So, consider staking your TSX as early as possible to enjoy maximum returns!
Looking Ahead
Launching the TSX staking program is yet another step forward and an incredible moment in our quest to develop a community governed Fantasy Sports play-to-earn game. We believe this initial version will get very much improved with help and feedback from our community members.
If you want to learn more about TSX, check out the full whitepaper. Feel free also to reach out to us for any inquiry or comment on our official channels.
Happy staking!
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