CSPN Staking dApp Development State and Reward Information | 2022/04/21 - 12:31 ESTDevelopment

Dear community,

we are actively working on all ends to get everything in place asap.

The Staking Smart Contract has been completed and successfully tested. The GUI has been completed and the Smart Contract is now being integrated into the Template.

the Staking dApp will work as follows:

1. Connect your Wallet to the dApp through Metamask
2. Put (lock) a desired amount of CSPN to stake
3. Get rewarded every 24 hours
4. Harvest or reinvest your Rewards

You can withdraw and add CSPN to the stake anytime.

We have remained true to our philosophy and want to continue to reward Holders. Therefore, we rely on a method that rewards the User with higher Annual Percentage Yield (APY), the more CSPN they stake.

The following shows what APY a user gets depending on how much CSPN they stake:

under 1,337 CSPN: 10% APY
over/equal 1,337 CSPN and under 10,000 CSPN: 13.37% APY
over/equal 10,000 CSPN and under 25,000 CSPN: 15% APY
over/equal 25,000 CSPN and under 50,000 CSPN: 16.5% APY
over/equal 50,000 CSPN and under 100,000 CSPN: 18% APY
over/equal 100,000 CSPN: 20% APY

So when a user stakes 1,337 CSPN, they would get 178.7569 CSPN a year in return which results in a daily Staking Reward of around 0.49 CSPN. A Stake of 100,000 CSPN would give 20,000 CSPN a year which is 54.79 CSPN rewarded daily.

We feel that these values are pretty fair and are happy to be able to provide our investors an option to get rewarded by holding their CSPN, similar to the methods we have on our current code base.

No more setting up Masternodes, no more worrying about paying server bills - just stake your CSPN tokens and get rewarded, completely passive and worry free.

Stay tuned for more updates.

- Your CSPN Team -

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