The Flip Staking Rewards Program is an incentive program that rewards low-time preference Flip holders by giving Flip tokens in a compound scheme to those who stake them.
This article details the Flip Staking Program, how it works, and why.
After the TGE, Flip tokens will be distributed among stakeholders. Find out about Flip token distribution with this article.
The Flip Staking Rewards Program is designed to give governance power to Flip token holders. It has allocated 30% of the 210 million Flip Tokens created at TGE, corresponding to 63 million.
The concept remains the same as the BPROmax Liquidity Mining program, to benefit early adopters. Flip tokens will be distributed between those who stake Flip tokens the same way the BPROmax Liquidity Mining Program does but with bigger amounts.
The Staking Rewards program will be distributed as follows, 3% of the total remaining amount per month (every 30 days) proportionally to Flip stakers. This way, the number of tokens to be distributed will decrease every 30 days.
For example, in the first month, the program will distribute 3% of 63,000,000=1,890,000 Flip tokens between Flip stakers proportionally for their stake. In the second month, 3% of the remaining from the first month 63,000,000-1,890,000=61,110,000. This way, 1,833,300 Flip tokens will be distributed among Flip stakers proportionally for their stake.
As numbers show, the earlier you stake Flip tokens, the more Flip tokens you get.
Having Flip tokens gives you Vote / Veto powers (for platform updates including parameters and new features) and the possibility to have discounts for paying platform fees.
Another characteristic of the staking program is its compound behavior. So it takes the accumulated amount to calculate the proportional distribution, as a bank account interest works. The longer you stake your Flip tokens, the better chance to get more.
In short, this program encourages you to stake a bigger amount of Flip tokens, sooner, and for the longest time.
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