The Staking portal
Last updated
Last updated
Staking in the PTC Ecosystem will be a wholly unique experience. Instead of using a traditional lock staking model like Proof of Stake (PoS), we went with a “Soft Staking” system we’ve created called Proof of Holding or PoH. In this consensus model, stakers must do their staking transaction during the 24-hour staking window once a month.
Note: Missing the 24-hour staking window means waiting until next month to stake.
The smart contract snapshots your then-current wallet holdings. The tokens do not leave your wallet. So long as their token holdings maintain equal to or greater than their snapshot number during the 30-day staking time, they will be able to claim their Binance Pegged XRP Tokens.
PoH is a much more flexible consensus algorithm because it allows users to retain ownership of assets, do sells or transfers above their snapshot number, and allows the team to continue adding more utility to the asset without running into issues that arise from a more traditional Proof of Stake system.
The staking system uses your snapshot in a pool contribution % method to determine rewards. So the more % contribution you have, the higher your reward is. We will have minimum and maximum staking ranges to ensure fairness.
e.g. if a holder does a staking transaction with 100m tokens: Your Tokens stay in your wallet & the system takes snapshot of 100m You get 1m Tokens from Reflections via Trading Volume You sell your 1m Tokens for $, and still have at or slightly above 100m Tokens (The snapshot amount)
While allowing asset access flexibility the PoH system operates on a snapshot expectation of meeting or exceeding the starting snapshot number throughout. Selling above that number so long as the end result of that transaction is still equal to or greater than the snapshot is fine. You will be able to sell tokens within the "lock" period if needed (Going lower than the snapshot amount) but it will forfeit your rewards for that month.
When 30 day staking period is up, it doesn't matter that you sold reflections for income. Because you kept your Holdings at or above snapshot number, you click claim button and get XRP in your wallet.
