TotemFi Rewards Explained

TotemFi Staking-Pool Rewards

Welcome back! We’ve explained how the TotemFi platform’s pool mechanics work, so now we’ll be diving into the exciting part — information about the bitcoin and totem returns for participation in the staking pools.

TotemFi’s decentralised app (dApp) launches early 2021, sign up to our mailing list now at www.totemfi.com for news, exclusives and further incentives.

— -

When entering into a staking pool, there will be a guaranteed staking reward. This will vary depending on the maturity time of the staking pool. These will adjust overtime to ensure individuals are sufficiently rewarded whilst maintaining a sustainable Totem ecosystem. Initially, proposed return rates are displayed in the table below:

Proposed staking pool yields

Users will have their staked TOTM secured in a smart contract until the maturity of the staking pool. The staking rewards will be accumulated daily at 00:00 UTC. Users are able to claim and distribute these accumulated rewards as soon as they are available from the ‘My Account’ section of the staking dApp.

Staking returns will begin as soon as the individual enters into the staking pool, meaning the interest will begin accruing even prior to the pool launches.

For each staking pool, there will be additional bitcoin and TOTM rewards for accurate predictions. These, again, will vary over time depending on the consensus of the Totem community. The BTC prizes will be measured in US dollar value (e.g. pool A will have a total of ~$2,500 worth of BTC).

To promote the collaborative effort of the crypto community, each individual’s reward will be increased by a set multiplier if the weighted average of the prediction pool is within a $50 range (± $25 from the actual price) of the actual value of bitcoin on maturity. The multiplier will increase with the duration of the pool, due to the increased difficulty in predicting prices further in the future. Details of each proposed pools and the respective prize distribution is included in the table below:

Additional “enhanced rewards” will be available for an individual the earlier they enter into the predictor pool. The increase in return will be fixed upon entering the pool regardless of when the pool actually departs. For example: Participant A enters into a pool with 125 hours until the projected time launch. They, therefore, gain a fixed additional 4% staking reward. This additional staking reward is gained irrespective of whether another participant fills up the pool prior to the full 125 hours passing (i.e. the trigger event is pool allocation met).

— —

Please do get in touch with any ideas or feedback as we will always be looking to work with the community to better the project.

Join us on Twitter and Telegram to stay tuned. Sign up for early access at www.totemfi.com.

Thanks for reading,

Team Totem.

Stake. Predict. Grow. // Staking-based prediction markets for the crypto community.

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

Carthage issues, Xcode 12, XCFrameworks, Apple Silicon, etc.

‘Astellia Royal’ OBT Event

Part 1: Eliminating Waste from Agile and Waterfall Delivery to Improve Business Performance

Software Bootcamps and Imposter Syndrome

Supporting a customer the right way

PLASER- Product Label Scanner and Expiry Date Reminder

My local Sitecore JSS + Docker setup

An Introduction to CircleCI

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
TotemFi

TotemFi

Stake. Predict. Grow. // Staking-based prediction markets for the crypto community.

More from Medium

Early access for $CryptoGamers Token Airdrop !

INCUBATOR ANNOUNCEMENT

A new task is now live on Blade

🔥 New voting round on Roobee DAO!