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Staking
Be #CrashRider with us!
Anyone who stakes $BASH becomes a #CrashRider!
BankCrash is the first token to make profit from banking crisis. Staking $BASH tokens empowers holders to earn rewards.
Staking is straightforward. Users decide the amount of $BASH token and the staking duration in months. The staking range is from 3 months to 10 years. When staked, the $BASH tokens transfer from your account to the BankCrash smart contract. Then, a new stake is recorded to your account.
The Base Annual Percentage Yield (
Base_APY) is the minimum guaranteed yield your stake will earn over a year. It is established as a constant 4%, providing a stable return for all stakers, regardless of the staking period.Note: Base APY is affected by the Staking Rewards Halving.
The Bonus APY offers an extra yield beyond the Base APY. Stakers earn this based on real-world events, mainly bank crashes. It's determined by how many bank crashes (big, medium, or small) happen after starting a stake.
Different bank crash types add different amounts to the Bonus APY:
- 'Big' bank (bank > $50B) crashes add 21% to the Bonus APY
- 'Medium' bank (banks between $5B and $50B) crashes add 9% to the Bonus APY
- 'Small' bank (banks <= $5B) crashes add 2% to the Bonus APY
Bonus_APY = [Big crashes] * 21 + [Medium crashes] * 9 + [Small crashes] * 2
Note: the halving impacts the Bonus APY as well.
The maximum yield a stake can earn yearly is called the Maximum APY. It's found using this formula: 42 + the staking duration (in months) times 2.
Maximum_APY = 42 + [months] * 2
For example: a 6-month stake, the Maximum APY is 42 + 6x2 = 54%. You'd only reach this if multiple bank crash during the staking time.
Note, the Maximum APY isn't affected with our Staking Rewards Halving.
The Final APY is what a stake actually earns.
Final_APY = min(Base_APY + Bonus_APY, Maximum_APY)
It adds the Base and Bonus APYs, but it can't go above the Maximum APY. So, even if the Base and Bonus APYs combined are high, the Maximum APY keeps a hardcap. No matter how many bank crashes happen during staking, returns won't exceed the Maximum APY. This sets an upper limit on earnings, balancing rewards and system sustainability.
Seamlessly manage your stakes with our intuitive and user-friendly staking interface.
Unstaking after the contracted date allows you to get your well earned full rewards, so there's no penalty applied in a normal scenario.
But, unstaking early? There's a penalty. And it's not just on rewards, but also on the staked amount. The earlier you unstake, the higher the penalty.
Note: no penalty applied if you stake and unstake in half hour (1800 seconds), as we allow user to play with the system and also we want to protect anyone from accidental staking.
Calculation (
Tₛ : active staking duration, Tₑ: targeted staking duration till the end):For example, unstake within the first 60 days and face a 70% penalty on both the stake and reward. After 60 days, the penalty goes down over time. The longer you keep the stake, the lower the early unstaking penalty.
The rewards added to the Base, Bonus APY will be subject to halving every two years, starting on independence day of July 4th, 2023, 00:00:00 GMT -04:00. Next halving will be on 2025 July 4th, 00:00:00 GMT -04:00.
Last modified 3mo ago