I. Do. Not. Believe. In. Free. Money.
I have seen so many staking models where you stake your tokens and generate more tokens by doing nothing. There is no such thing as free money and everything should come with a cost. The Bounce protocol is not a “bank”; neither is it the Federal Reserve that constantly prints. I am NOT interested in locking users’ tokens for a period of time for staking rewards as it brings NO benefits other than reducing the circulation and pumping the token price. Bounce is a self-sustainable ecosystem. Now, let's talk about Bounce Staking. It is very straightforward.
Where do staking rewards come from?
There will be 0.2% transaction fees charged for swaps and the transaction fees will be sent directly to the staking pool. The transaction fee is deducted from pool creators. If a pool creator creates a pool and he can receive 10 ETH, 0.02 ETH will be taken to staking pool. So this transaction fee does not affect participants.
How are staking rewards calculated?
Staking rewards are calculated on a cycle basis. You can claim your staking reward if you stake in one cycle (or many complete cycles). The transaction fees from each cycle will vary based on the swap demand. The staking rewards will be distributed based on the number of BOT tokens staked in the cycle and the total amount of transaction fees generated from that cycle. You can stake anytime during one cycle and your stake will be taken into account when that cycle completes. In other words, you can stake anytime in one cycle until the end of the cycle to be eligible to get rewards from that cycle.
What is the minimum staking lockup period?
You can stake and unstake your BOT tokens anytime you want. To prevent malicious behavior, we have added a policy that you can withdraw your staked BOT tokens 24 hours after you submit unstake request. So, you can stake and unstake anytime, but your unstake will take two steps: 1)submit an unstake request 2) withdraw your BOT tokens after 24 hours.
How to claim staking rewards?
There is a staking reward page which you can claim by clicking the “claim reward” button. Once your rewards are generated from the end of one cycle, you will have until the end of next cycle (1 cycle time period) to claim your rewards. Otherwise your rewards will be invalid and cannot be claimed.
When will this start?
BOT staking will start in a few days. An announcement will be made before the launch of staking so that you can start to stake for the upcoming cycles.
Staking return promises?
No, there is not a guaranteed staking return. It adds a layer of unpredictability (and fun, of course) to Bounce as no one can foresee the total transaction fee and the total number of BOT staked in the next cycle. It is a game theory to the full extent.
All of you will be well informed when the staking function is live and you can stake on bounce.finance.