There will be a 4-month minimum stake period for a staker to receive their full yield. You are able to remove your staked tokens at any time during the staking period. Your tokens will remain in the staking pool until you choose to unstake. Staking into the pool will give you your percentage of the pool earnings relative to the total amount of tokens staked into the pool.
All staking accrues daily. Any earnings through BSL DAO LLC SLP will be distributed by the 5th of each month to the people who have staked their tokens. The staking will be paid out in a stable coin (Rivia - Rusd). All bonuses will be paid out in BankSocial ($BSL), respective of which chain (BSC or ETH) the user staked with. The user will pay all gas fees estimated at the time of unstaking and receiving their distributions. BSL token bonuses are an added incentive to continue staking and added automatically to your stake. There are 3 staking periods available: 4 months, 8 months, and 12 months.
Vesting Schedule Example
Monthly $100 earnings example would take 4 full months to vest
4 month staking terms:
Month 1: 50%
Month 2: 50%
Month 3: 50%
Month 4: 100%, + Remaining percentages from months 1-3.
8 month term:
Month 5: 60%
Month 6: 60%
Month 7: 60%
Month 8: 100%, + Remaining percentages from months 5-8
- Months 1-4 Are the same payout as the 4 month term above.
12 month term:
Month 9: 75%
Month 10: 75%
Month 11: 75%
Month 12: 100%, + Remaining percentages from months 9-11
- Months 1-8 Follow the 4 and 8 month staking terms above.
If you leave the stake pool after payment, but before your vest is complete the next month, you don’t get the full vest for that month. Every month the vest is started with the next payment - you must keep your tokens in the stake pool to continue receiving distributions. After the staking term expires, the vesting schedule starts from zero again.
BSL Bonus
For BSL bonus payouts, assuming a 12 month staking period and 100 USD in monthly earnings:
Months 1-4: 10%, so 10 USD worth of BSL each month
Months 5-8: 12.5%, so 12.5 USD worth of BSL
Months 9-12: 15%, so 15 USD worth of BSL
BSL bonus tokens are approved at the end of every month you keep your tokens staked in the pool. Fivancial will purchase the respective amount of BSL tokens at whatever the current market rate is at the end of every month from a decentralized exchange (Uniswap or Pancake Swap), thus helping the volume, price of the token, and growth of the SLP, all at once.
Unlike the “normal” distributions, bonus payouts can only be claimed at the end of the complete term the staker selected. Keep in mind that the 4% token economics apply when Fivancial purchases BSL tokens on the open market, so the bonus that the staker receives will be less. However, when Fivancial transfers the bonus tokens to an individual’s wallet, those wallets will be whitelisted (excluded from the 4% token economics), thus the tokens are only “taxed’’ once. This is a great way for us to grow the SLP.
The community has two options to vote and decide on:
- If you choose a 4 month stake period, and you unstake early, you forfeit all BSL bonus tokens. If you select a 8 month stake you receive your 1st 4 month term BSL bonus, but forfeit the month 5-8 bonus, and same with the 12 month stake period. If you unstake during months 9-12, you still receive the first two terms (months 1-8), but not months 9-12.
- If you don’t complete the staking term you selected when you staked your tokens and unstake early, you are not eligible for ANY BSL bonus tokens, regardless of if you staked for an entire 4-month period.
The community also needs to vote and decide on what happens to any forfeited BSL tokens:
- Fivancial will distribute all tokens equally on the 1st of the month to all those currently staking tokens in the pool.
- Fivancial will deposit all forfeited tokens into the SLP, thus growing the SLP.
KYC is not required to stake/unstake your tokens. To receive your distribution you must KYC, however.
BankSocial, a division of Fivancial, makes no representations or promises of a return on investment for anyone staking.
EDIT 10/10/2022
*percentages can change but this gives an easy-to-understand concept.
For simpler staking terms, 30 days initial term, accrues daily, and paid out within 5 days of the following month, or paid out quarterly.
Add in the disclaimer that gas fees are subject to change with market movement and are the responsibility of the staker. The tokens stay staked in the pool until the person selects “unstake”.
- Receive 95% distro in rUSD, 5% goes to SLP
- Receive 95% distro in BSL, 5% goes to SLP in rUSD (Staker would be subject to gas fees on transfer)
- Receive 90% distro in rUSD, 10% distro in BSL after staking full 30 day term. Of the 90% in rUSD, 5% goes towards SLP
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