TrustSwap Staking Update — Bonus Rewards Extension and New Features
-The 333,000 initial bonus rewards for the staking portal have been distributed and airdropped directly into stakers wallets proportionately
-The staking bonus program is being extended, paying out 10,000 SWAP per day, which currently averages out to over a ~12% APY
-The TrustSwap Staking Portal has been updated with new features based on community feedback such as ‘add to stake’ and ‘withdraw only rewards’.
New Staking Features
The Swap rewards you earn through staking can now be re-staked. You can also add to your stake with additional SWAP.
- On 1st Oct, user deposited 100 SWAP into staking contract.
- On 3rd Oct, user earned rewards of 5 SWAP.
- On 5th Oct, user wants to stake 50 more SWAP that was purchased.
So new staked amount will be 155 (old amount + rewards + new amount) User can re-stake only if withdrawal has not yet been initiated.
- Withdraw Only Rewards: User have ability to withdraw the rewards earned without unstaking.
- New SwapStats Added: Users can now see the total supply of SWAP and how much has been burned directly from the staking portal. You can also now see your SwapScore when you click on “Check Rewards”.
Staking Bonus Rewards Program
333,000 SWAP have now been dropped directly into every wallet that was staking more than 100 SWAP during the first 30 days since the TrustSwap staking portal launched. This is a way to say “Thank You!” to the TrustSwap community for your support and faith in the project during these early stages of development.
The TrustSwap team have decided to continue this bonus program with an ongoing daily distribution of 10,000 SWAP tokens that will be added to the staking rewards pool. Soon you will see these rewards appear on the staking portal along with the normal rewards accrued from platform usage.
- With the bonus alone, TrustSwap staking rewards can now be estimated at ~12.4% APY based on the current total of ~29 million SWAP staked. Any additional fees generated on the network will increase this APY.
- Staking SWAP over time also builds your SwapStats for chances to win Golden Ticket NFTs in the Launchpad Lottery and eligibility for upcoming SwapDrops (promotional airdrops for SWAP holders).
The initial 333,000 SWAP bonus was a direct drop into the wallets that were staking SWAP. Going forward, these rewards will instead be added directly to the staking rewards portal. You can check your rewards by logging in to staking.trustswap.org.
This is expected to be a short term promotion. These bonus tokens come out of the TrustSwap development fund, not minted from thin air (SWAP is deflationary and there will never be any more tokens minted). The TrustSwap ecosystem is designed so that staking rewards are derived entirely from platform usage so, as the platform volume grows, this bonus program may be decreased or discontinued.
You can help TrustSwap grow and earn yourself some SWAP for helping spread the word and onboard users or finding new projects for the TrustSwap Launchpad. Check out the details of the Bounty Program here.
Thank you for staking and supporting the long term vision of TrustSwap. We are a community-focused project and we couldn’t do it without you.
To learn more about TrustSwap, please check out the White Paper on the official website. Be sure to join the Discord and Telegram groups for more details and regular updates. If you still have questions, the TrustSwap team and community are always happy to help.