Staking Requirements in the BYD Ecosystem (Updated)

2024-10-13 19:56:01 Primitive Reading

To begin staking in the BYD ecosystem, you need to set up a wallet on the Arbitrum (ARB) chain. This wallet will securely hold your BYD tokens and connect you to the staking platform. Staking in BYD is designed to be straightforward, offering daily rewards for both new and seasoned crypto enthusiasts.

Minimum and Maximum Staking Requirements:

- Minimum Staking Quantity: The minimum amount required to start staking is 5 million BYD tokens, ensuring that all participants are serious about supporting the ecosystem.

- Maximum Staking Quantity: The maximum staking limit is 500 million BYD tokens, allowing significant flexibility for those who want to maximize their returns.

Daily Rewards Based on Staking Period:

Unlike many other systems, BYD staking rewards depend on how long you stake your tokens, rather than the volume of tokens staked. The longer you stake, the higher your daily rewards.

- 0 to 168 hours (0-7 days): 1% daily rewards

- 169 to 336 hours (7-14 days): 1.2% daily rewards

- 337 to 504 hours (14-21 days): 1.4% daily rewards

- 505 to 672 hours (21-28 days): 1.6% daily rewards

- More than 672 hours (28+ days): 2% daily rewards ( permanently )

This system incentivizes long-term staking, as the longer you stake, the higher your returns become. With consistent staking, you can achieve the maximum reward rate of 2% daily after 28 days, benefiting from increased earnings over time.

24-Hour Staking Period:

The BYD staking system operates on a 24-hour cycle, meaning your staking period refreshes every 24 hours. You can choose to either claim your rewards or compound them by adding the earnings back into your principal. The longer you stake, the more you will earn, especially with the power of compounding.

The Power of Staking:

By staking BYD, you not only earn daily rewards but also strengthen the security and overall growth of the BYD network. Every staker plays an essential role in building a thriving ecosystem, helping to make the network more stable and attractive to future investors.

Start staking today and take advantage of the daily rewards system while supporting the BYD network!

Disclaimer: This specification is preliminary and is subject to change at any time without notice. Amazon Finance assumes no responsibility for any errors contained herein.