We are really excited to announce that this coming Friday i.e. 11th September , we will launch our anticipated staking mechanism, giving $BART holders a unique opportunity to be incentivized in return. In this article we detail further information on the structure, incentive and requirements for participation in the BarterTrade staking system.
As DeFi has developed in similar spirit, BarterTrade staking can be compared to a time based deposit account whereby returns are proportional to the time and amount of $BART staked:
r ∝ t.v
Where r represents returns, t represents time% of lock term, and v represents the total value of $BART tokens locked. Formula is indicative.
The mechanism design of our pool-based staking system is flexible in that a user is not obligated to leave tokens locked until maturity. On the contrary early withdrawals are permitted, however as will be described herein, there’s an opportunity cost whereby leaving tokens staked the full term generates higher returns. Usually, there are no rewards for premature withdrawal but in this case we are offering a smaller % reward to premature unstakers as well.
Detailed instructions will be provided in the coming days, but overall it’s relatively simple. Send your tokens to the Ferrum.network’s revolutionary Unifyre wallet, deposit your $BART to the wallet and start staking. Team admins will be available should you require help. DO NOT trust any other source of info except detailed instructions we publish in our official announcement channel.
The rewards forfeited by the unstakers will go directly to our loyalty program DAO fund, allowing all community members to organize events/marketing activities and other initiatives by raising a proposal and having it approved by BART squad members.
Terms of staking
You need to install Unifyre wallet on your mobile (Andriod/IOS) to participate in the staking event.
A maximum of 6 million $BART will be accepted in each pool. Once the maximum has been reached, no more tokens can be allocated to staking. An individual minimum of 500 $BART is required to stake. There is no individual max cap. We will provide 3 varieties of pools. The details of each pool are as follows.
- Gold pool: 3 month lock-up at an APR of 20%.
Unstaking terms: Premature withdrawal available after 45 days at an APR of 5%.
- Platinum pool: 6 month lock-up at an APR of 30%.
Unstaking terms: Premature withdrawal available after 3 months at an APR of 10%.
- The BART Squad Pool (Diamond): 3 month lock-up (selected by DAO voting). APR will be higher than the mid-term pool. Details will initially be disclosed in The BART Squad group closer to the Staking live.
Unstaking terms: Premature withdrawal available after 45 days at an APR of 12%
1.7 million in total $BART token rewards will be issued through the staking pools with the pro-rata majority being issued to longer-term pools. With a maximum capacity of 6 million tokens, longer-term pools are expected to generate high demand immediately upon launching.
To keep it fair and provide everyone with an equal opportunity, once staking launches, it will remain open for a limited amount of time for all users, or until the 6 million $BART cap is reached. This will be displayed using a progress bar on the Unifyre wallet at the time.
Stake returns increase with maturity. Loyal stakers will be incentivized. We’ll soon publish the anticipated #FOMO countdown for staking on our website ;) We wish you all the best, and good luck. Special thanks to all who helped put this intricate mechanism-design together.
The BarterTrade Team