BKEX will launch Staking - Bandex Pool at 20:00 on May 6, 2022 (UTC+8). The details are are as follows:
Min. locked amount
of an order
Max. locked amount
of an order
|Est. APY|| Unlocking cycle
Remarks: The currency of earnings of Bandex Pool is Bandex
* Special notes:
1. Locking rules:
- Users locked tokens before 20:00 (UTC+8) on T day: the order will be confirmed on T day, the order will start to calculate the earnings on T + 1 day, and the earnings on T + 1 day will be distributed on T + 2 day.
- Users locked tokens after 20:00 (UTC+8) on T day: the order will be confirmed on T + 1 day, the order will start to calculate the earnings on T + 2 day, and the earnings on T + 2 day will be distributed on T + 3 day.
- Locked period: Flexible unlocking. Users can unlock locked assets at any time.
2. Unlocking and redeeming rules:
- After orders enter the unlocking cycle, the staking earnings will no longer be generated.
- Users submit an unlocking order on T day and the order will confirmed and handled on T + 1 day. The assets will be credited after the unlocking cycle ends.
e.g. User A apply for unlocking Bandex staking on January 1, 2022 (UTC+8), the unlocking cycle of Bandex is 7 days. Therefore, system will confirm and handle this unlocking order on January 2. The Bandex tokens of this unlocking order will be credited on January 9, 2022 (UTC+8).
3. Rules of earning distribution
- The earning distribution time of Staking is 16:00 ~ 18:00 (UTC+8) every day;
- Staking earnings of this day = the actual total Staking earnings of this day / total Staking locked amount of this day * users' Staking locked amount of this day
- Whether to adjust the est. APY in the future will be determined according to the market and will not be announced.
4. Risk reminder:
The mining earnings of Staking are the coin standard earnings, and different mine pools have different unlocking cycles. During the unlocking cycles, the loss caused by the price drop of tokens shall be borne by users themselves. In addition, due to the possible changes in the mine pool and earnings distribution rules, the yield of Staking may fluctuate, which is not unchangeable.
App client and website have supported Staking function.
Staking is a kind of behavior that deposits tokens in a specific cryptocurrency wallet to support the operation of the blockchain network. Under the Proof of Staking (PoS) mechanism, the staking behavior will be rewarded with tokens. Users can obtain earnings by locking digital assets for a certain period of time. Withdrawal and trading are not supported during the locked period (locked assets can be unlocked at any time). It is suitable for users who hold tokens for a long time, with higher income.
More details: Rule Description of Staking
English Telegram group: https://t.me/BKEXEnglish