- Beaxy has launched its new STK rewards program, allowing you to STK your tokens to earn more
- The longer you STK for, the more you make with this new reward system
- There are loads more features in the pipeline, making Beaxy one of the most feature-rich exchanges the world has ever seen
Reward programs are the bread and butter for crypto exchanges these days, and now that every exchange has its own token, these programs can get rather detailed and rather rewarding. One of the most exciting crypto exchanges around, and one with virtually the lowest fees we’ve ever seen, has decided to revamp its loyalty and rewards program, and we could not be any more excited.
Get ready to meat the STK standard from Beaxy. If that pun went over your head, you should really check out Beaxy’s super in-depth guide to its new loyalty and rewards program. But today, we’re going to take you through the most important part – how much you can earn!
Let’s learn how to earn!
What Was Wrong with the Old System?
Sure, we’re with you there. Why change something that we already know and love? Well, the answer is pretty simple really – to make it better for you. Under the old loyalty and rewards system, it was just simply broken. Some users were reporting $0.14 monthly earnings, there was no incentive to participate for longer periods of time and the rewards figures often liked to vanish or not display properly. STK fixes all these issues and MUCH more!
Two Tiers to Cover All Your Needs
Staking your BXY tokens has never been more rewarding. Under the new STK system there will be two tiers, Sapphire and Diamond, both with their own mechanics and reward sets. These two tiers are very novel in the sense that they don’t interfere with one another, meaning higher payouts for the Diamond tier won’t mean the sapphire tier makes less money.
Sapphire is the “entry level” tier of the new STK rewards and loyalty system. It’s based on a variable interest rate model where you stake your BXY tokens for and get upto 1% interest back per month for a total of upto 12% a year. You can stake your tokens for monthly blocks up to 12 months and as few as 1 month.
If you want to opt out early, there is a 10% fee taken from your staked tokens, but you’ll get to keep any rewards you’ve earned up to that point. If you do wish to cashout for any reason, it’s instant so the money is back in your account within milliseconds.
To enter into the Sapphire tier, you need to stake anywhere between 30,000BXY and 999,999BXY. All rewards will be distributed to your on-exchange BXY address.
Next, we’ve got the Diamond tier, this the ultimate tier and it has the potential to pay out a huge amount of cash. The more Beaxy grows, the more money you will make. In this plan, you’ll be added into a pool, and the number of BXY tokens that you stake will give you a percentage ownership of the pool.
Beaxy then allocates 7% of the fees collected by the exchange every day and distributes them monthly between all the pool members, based on your ownership percentage of the pool. So, say that the 7% allocation to the pool on a particular day is $1,000 and you own 10% of the total staked in the pool, you’ll get $100 – pretty neat, huh!
In order to get into this exclusive club, all you need to do is stake 1,000,000BXY tokens or more. The more you stake, the greater percentage of the pool’s rewards will come your way. Just as the Sapphire tire, you will pay a 10% fee if you decide to opt out in the first 3 months of your STK membership, but it’s totally free to do so after that.
When Can I Start STKNG?
Beaxy’s new STK system has already started rolling out. The Sapphire tier launched back on September 3, and we’ve got it on good authority that the Diamond tier is not too far behind. There’s already a small fortune locked away in the Sapphire tier, and we cannot wait to see how quickly that Diamond tier starts to fill up!
STK Sapphire is now live!
Receive 12% per year back in $BXY.
The significance.. 👇
• 10% of traders ‘make it’ trading.
• 100% of participants in STK earn loyalties.
Making it easy to not get rekt!#beaxy
— Beaxy Exchange (@BeaxyExchange) September 3, 2020
All funds you STK are stored in Beaxy’s custodial wallet that’s held with Curve, meaning your BXY tokens are secure in the crypto version of Fort Knox. So if you’re going to HODL BXY why not STK them on Beaxy and make your tokens work harder for your pocket!