Staking
Staking for APY in Bitenet’s "Eat to Earn" Model
In Bitenet’s "Eat to Earn" platform, staking for APY (Annual Percentage Yield) offers an additional layer of engagement and benefit for users. Here’s how it works within the context of Bitenet:
How Staking Works:
Staking Tokens: Users of the Bitenet platform can stake their $BITE within the staking system. Locking up a certain amount of tokens to participate in the staking process.
Earning Rewards: By staking their tokens, users earn rewards in the form of additional tokens, calculated based on the platform’s APY. These rewards are accrued over time and can be compounded, meaning that users earn interest on their earned rewards as well.
APY Calculation: The APY reflects the annual yield users can expect from their staked tokens. The higher the APY, the greater the potential returns. Compounding ensures that as rewards are earned, they contribute to further earnings.
Restaurant DeFi: use BTC / ETH as collateral to borrow $BITE for circulation that helps acquisition of customers
Charitable Donation Option:
Bitenet offers a unique feature where users can choose to donate their staking rewards to charity. This adds a philanthropic dimension to staking:
Donation Integration: Users have the option to allocate their earned rewards to various charitable causes directly through the platform. Bitenet partners with selected charities and enables users to make donations seamlessly.
Impact of Donations: Donating staking rewards to charity allows users to contribute to causes they care about while still participating in the staking program and seeing their financial activity having a positive impact.
Benefits:
Passive Income: Users earn a steady stream of rewards through staking without needing to trade actively.
Compounded Growth: Staking rewards compound over time, increasing the potential yield.
Charitable Giving: Users can support charitable causes using their rewards, adding a meaningful dimension to their staking activities.
Network Support: Staking helps secure and maintain the Bitenet platform, contributing to its stability and growth.
Last updated