Today, we are excited to announce the details of our upcoming DeFi BART Staking.
As you may all know, early stage projects rarely get exposure to staking because of the advanced programmable technology required to provide the mechanism design. When they do, the terms of staking are usually inflexible and limit the control that token holders have over their assets resulting in a lack of interest from the community. In this article, we will explain the details of our staking program and how it differs from most staking initiatives currently available in the market.
BarterTrade is partnered with Ferrum.network for these very long term solutions. BART staking will be delivered through the Ferrum Network’s flexible staking programme. BarterTrade will be able to deliver big staking rewards to participants with a total pool reward of 1.725 million BART on average over a 6 month period.
Token holders will be able to choose between Two different staking pools when locking their tokens. Rewards will be gradually distributed to stakers during the staking period whilst the full percentage of rewards will be realized at the end of the specific staking pool. Users will be able to reclaim their tokens and accumulated rewards at full maturity, but also have the option to withdraw early if they would like to unstake some/all of their principal. However, unstakers will not receive the full reward at pre-maturity. Usually, there are no rewards for premature withdrawal but in this case we are offering a smaller % reward to premature unstakers as well.
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.
A maximum of 6 million tokens will be accepted in each pool. Once the maximum has been reached, no more tokens can be allocated to staking. The details of each pool are as follows.
- Short-term staking pool: 3 month lock-up at an APR of 20%.
Unstaking terms: Premature withdrawal available after 45 days at an APR of 5%.
- Mid-term staking pool: 6 month lock-up at an APR of 30%.
Unstaking terms: Premature withdrawal available after 3 months at an APR of 10%.
- Loyalty program Pool: 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%
1.725 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.
Staking is expected to go live within the next week. However, the exact date will be confirmed in the upcoming days.We have added the staking page on our main website and the ferrum team is working on the integration along with our team to deliver it at the earliest. Rest assured, it is coming very soon.
We anticipate that these pools will fill shortly after launching. BarterTrade foresees all pools reaching maximum capacity within a few days of the staking programme commencing. Don’t miss the chance to participate in the most flexible staking initiative, Soon available to BART hodlers.
Why a max lock-up of 6 months and not 1 year?
The answer lies in our innovative products. We’ll be live in the next month with our spot and algo platform. Gradually from there, we will scale to introduce many other products to market and staking will be one of them.
Important announcement and some unexpected future plans
Here, we’d like to give our community an idea of several areas we have been working on which aren’t mentioned in our whitepaper. We’re working on an unparalleled DeFi solution that will be fast-tracked in the Q4. We will be releasing this along with other roadmap mentioned products. This is really important to us as we acknowledge the fact that DeFi is an unparalleled solution to being in control of your finance. We want to be part of your journey in this historical exciting area of blockchain development. We aim to eventually merge our CeFi and DeFi solutions, to provide a one-of-a-kind experience for users. We intend to release details of our all-in-one DeFi solution next month with an updated whitepaper.
To conclude, we’d like to take this opportunity to announce that the test launch of our platform’s first version will go live on September 20th 2020. The test phase will last for approximately a week depending on the severity of bugs reported by users.
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