TiFi Launched Stake and Portfolio Features in TiFi Bank
TiFi has made a major release for its TiFi Bank at 6:00 UTC on August 25, 2022 by launching the stake and portfolio feature. These 2 features can significantly attract users to earn more cryptos with TiFi Token (a.k.a. TIFI) and TiFi Bank.
New Feature: Stake
Before this release, TIFI holders can earn reflection rewards and token rebate just by holding and regular transferring. Staking TIFI provide much more rewards compared to these earnings of owning TIFI.
Based on the TiFi Token Whitepaper, the TIFI rewards of Staking are coming from part of transaction fees happened in blockchain network. It means the earnings are coming from existing supply of TIFI without minting new tokens. It is a great way to grow the net asset for TIFI investor for the anti-inflation methodology.
Based on the TiFi Bank Staking Design, it requires people to stake TIFI for 30 days to receive the rewards. After 30 days, the investor can get half of the reward. After 180 days, the investor can get the full reward, plus the WBNB reward. But it will not charge any tokens/coins if the investor unstakes TIFI within 30 days. And the interests are compounding based on every TIFI transaction happens on the network.
The amazing thing is that every investor who stake TIFI can get WBNB reward after 180 days. The WBNB reward are coming from the fixed staking fee of 0.02 BNB charged per stake. It means, the amount of WBNB rewards depends on how many stake transactions happened on TiFi Bank. If an investor unstakes TIFI before 180 days, a portion of the staking fee he/she paid will be reward to other investors who stake TIFI.
Demo: Staking TIFI
Here are more information for demonstrate the new TiFi Bank release.
If TiFi Bank user goes to the Stake menu button, it will bring user to the TiFi Bank Stake records page if the user has stake records and connected to wallet. The pages shows multiple records if the user stakes TIFI multiple times, date and times of staking, when you can get full rewards and half reward and how much and which token(s) you are going to get.
When you staking TIFI, a notice will tell you the rule and the flat fee will be charge per stake, the fees will be used to pay for WBNB reward. If you stake TIFI for the first time, you need to click “Enable Stake” to approve the transaction, wait for a moment after it is approved, then you can click the “Stake” button to stake.
You can unstake TIFI by clicking “Unstake” on the Records page, then it will take you to the following page:
Here you can select how much TIFI you want to unstake. In the “You will Receive” section, it will show how much you will get. If the staking time is less than 180 days, a notice will show that you will not get the full rewards.
New Feature: Portfolio
Portfolio feature of TiFi Bank brings users the observability of TiFi Bank assets and earnings information. There are 2 pages for the Portfolio feature: “Pool Analytics” and “Stake Analytics”.
Pool Analytics page shows the liquidity value and APY of every pool supported by TiFi Bank, people can view the APY earnings when they provide liquidity for each pool. Providing liquidity is another way people can earn with the cryptos they are holding.
Stake Analytics page shows the trends of stake earnings on TiFi Bank. The system will update the earning data once per day based on the transactions happened on TiFi Bank and other exchanges.
Q & A
Question 1: Will TiFi Bank support staking other cryptocurrencies?
A: Currently TiFi Bank only support staking TiFi Token. Investors cannot stake other tokens on TiFi Bank. However, the TiFi team will also support staking other tokens as part of the affiliate program.
Question 2: Are there any minimum requirements for staking TIFI?
A: Anybody who own TIFI can stake TIFI with TiFi Bank, the minimum TIFI requirement for stake in one transaction is 1 TIFI. Yes, it is a very tiny amount.
Question 3: Does TIFI take transaction fees when staking and unstaking TIFI?
A: Only a flat fee of 0.02 BNB is charged when staking TIFI. When staking and unstaking, there are no other transaction fees or taxes.
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