Staking Battle Tokens - Lets Talk!
Announced today by the hard working Team over at Steem-Engine, tokens built on the platform now have the ability to be staked!
You will soon be able to Power-Up your coins!
As you know staking or powering-up a token demonstrates a commitment to holding it for the medium to long term, which has a positive impact on the stability of the coin. Good token economics require the ability and incentive to stake tokens, coupled with a balance of faucets and sinks. Many of you essentially already stake your Battle Tokens by holding them in order to be entered into our month end draws!
@battlegames plans to enable this new functionality provided by the Steem-Engine platform, and allow your tokens to officially be powered-up. Participation in the Battle Squad will soon require that the minimum threshold of tokens [currently 1,000] be powered-up.
But before we set the parameters that officially enable staking we would like to hear from the community!
Powering Up works like Steem where it's instant. Powering Down has 2 variables.
The first variable is how many days it takes to unstake [Power Down] a coin and the second variable is how many times that's broken down into smaller steps. Steem is set to 91 days to unstake broken into 13 transactions.
You can set a variety of options here. If you wanted staking to happen rapidly then click 1 day and 1 transaction and 24hrs after your unstake you'll get the full amount. If you wanted to go slow you could choose 365 and 365 and every day it would release a sliver of your staked coins.
These values aren't changeable for the tokens. They are set for all eternity once you choose them. So, be careful when you're setting this up!
And this is where you come in!
These parametres can only be set once, so we want to get this right!
We would be honored to have you power up some of your Battle Tokens, hopefully enough to participate in the Battle Squad!
The question is, when you choose to Power-Down your tokens, how long should this period of time take? And in how many transactions should you receive back your liquid tokens?
7 Days per power down transactions with the ability to choose the amount you want powered down.
So if one wanted to power down all of the powered up coins then it would only take 7 days to do that if done in a signal transaction.
Ok cool, so 7 day cool down and 1 transaction. Personally I'm not big on having a shit load of transactions, feels like a tease when you want your coins back..
I agree with you 💯 @rentmoney
I would suggest a small time period and 1 transaction e.g. 1 or 2 days to un-stake all Tokens within 1 Transaction.
Thanks for the feedback! I anticipate token holders wanting maximum flexibility.. I'll then need to balance the needs of the community with what is best for the stability of the token.
That would make it very powerful and keep the interest of the investors and hoddlers in the accumulation of the battle tokens. Good move, much appreciated!
Glad you're on board with our decision to enable staking! It's a value add, will be good for the stability of the token 👍
This is so awesome, I would be powering them up as I am saving them anyways and agree with @masterthematrix for a small / short time period. Keep up the great work @battlegames I am glad to be a Battle Squad member! 👾👍👹 Upped and Resteemed! 🆙
Powering Up!
Sweet power up emoji and Thanks for the feedback!
Haha glad you liked it, thanks for the follow, and your very welcome!💪👍😃
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