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Everything you need to know about MyTVToken Staking (BEP-20)
Par MyTVTeam - 28 June 2021 à 19:19

Everything you need to know about MyTVToken Staking (BEP-20)

MyTVchain offers the next generation of sports video sharing platforms where anyone can publish, share, control, and manage the value of their online content.

The MyTV token is the main medium of exchange and reward within the platform. It is the basis of a collaborative economy where the value of the token is intimately linked to the growth of the platform and where each user is rewarded for their long-term support by taking advantage of passive income opportunities.

 

Staking on MyTVchain

Did you know? Crypto-currency staking consists of locking in a certain amount of an asset to prove participation in the network. In exchange, the investor receives rewards that can be compared to interests like a savings account in traditional finance. This is a way to encourage investors to hold their cryptocurrencies for the long term. The rates vary significantly depending on the project, but average 14.95% (according to Staking Reward).

For the MyTV token, this mechanism stabilizes the token’s price while ensuring a fair reward for holders who invest in the long term and participate in governance (voting on key decisions on the distribution of rewards on the platform and staking packs for example).

VISUALIZATION OF THE MYTV ECOSYSTEM

(The diagram is taken from the Litepaper)

Staking conditions

At launch on the Binance Smart Chain, several staking options called PACKs will be available. Each pack corresponds to a pair in the form of DURATION / ANNUALIZED RETURN (APY).

  • 30 days: 7% annualized
  • 90 days: 13% annualized
  • 360 days: 36% annualized

Subscription conditions

In order to subscribe to a pack, a minimum amount of 100 MYTV is required, which represents (at the time of the public sale) 10$. Once you have subscribed, you will not be able to change the amount deposited, but you will be able to subscribe to new packs.

Interest payment

Interest is paid directly from the treasury at the end of the lock-in period. It is still possible to retrieve the funds at any time. Withdrawing funds early will result in the loss of interest and a 4% penalty. This malus is charged to the amount originally staked by the investor and sent to the treasury.

Blockchain transaction fees

Blockchain transaction fees (staking, MYTV redeem, rewards redeem, unstaking) are at the investor’s expense.

Risks

As with any type of investment, and especially in the world of crypto-currencies, there are limitations and risks to be understood, especially regarding the price uncertainty of a volatile asset. If the price of the asset drops by a higher percentage than the return on the staking itself, your contribution to the ecosystem will not earn you anything and will not make up for your losses. Be aware of this before you make an investment decision.

Outlook for the future

We have designed the staking to be highly scalable. The different packages and options can evolve according to the decisions taken by the community governance.

  • Flexible staking: Lower rates but the possibility to withdraw rewards dynamically
  • Staking lock: Impossibility to unstake over a given period of time but the possibility to recover rewards dynamically
  • Limited premium staking: Based on the principle of a flash sale, packages with advantageous rates can be created (limited in time, in the number of subscriptions, etc.)

More than the possibility of proposing innovative service offers: MyTVchain provides the sports ecosystem with an asset that is valued and that pays off.

What if the MyTV token and its decentralized finance mechanisms represented the future of financing and cash management for clubs and athletes?

 

Join the community :

  /My TV Chain  

  @MyTVchain  

 /MyTVchain Official

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