Staking $MBID Tokens
The myBID ecosystem introduces four distinct staking contracts, accessible to all token holders. As $MBID tokens are SPL tokens, they can be held in any compatible non-custodial or custodial wallets, including but not limited to the myBID wallet.
Long-term Ecosystem Support: These staking contracts are designed to incentivise early adopters, investors, and customers to retain $MBID and provide sustained support to the ecosystem.
📜 Details of Staking Contracts
Reward-Focused Contracts:
Annual Percentage Rate = APR
1 Year
30%
Number of Tokens Staked x 30% x (12/12) x URM
90 Days
6%
Number of Tokens Staked x 6% x (3/12) x URM
30 Days
1.5%
Number of Tokens Staked x 1.5% x (1/12) x URM
Charitable Foundation Support Contract:
Staking for Charity: Allows token holders to stake tokens for the benefit of a charitable foundation.
Ownership and Rewards: Staked tokens remain under the ownership of the staker, but the rewards generated are allocated to the foundation.
🏭 Token Reward Mechanism
Newly Minted Tokens: Staking rewards are generated by minting new tokens.
Adherence to Maximum Supply: The use of the User Reward Multiplier (URM) ensures that the maximum supply of tokens is never exceeded, maintaining the integrity of the tokenomics.
Consistent Reward Provision: The RM mechanism ensures that staking consistently offers rewards, regardless of the contract chosen.
🤝 Governance and Community Engagement
Enhanced Participation: By engaging in staking, token holders actively contribute to the decision-making processes within the myBID ecosystem, especially those staking for the charitable foundation.
Transparency and Inclusivity: The staking process is designed to be transparent, ensuring that all participants have a clear understanding of the staking rewards, lock-up periods, and their impact on the ecosystem.
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