💸Bicot Stake Program
How to work Bicot stake program?
Last updated
How to work Bicot stake program?
Last updated
Stake Reward and Penalty Rates
Bicot developers have created 5 different special staking programs to participate in the pre-sale of projects listed on the platform, for the benefit of the community holding BICOT. It is not possible to participate in pre-sales without participating in any staking program. A minimum of 5000 BICOT stakes are required to participate in the pre-sale draws. With amounts less than 5000 BICOT, you can participate in the staking program, but in this case, the right to participate in the draw cannot be won, only the staking rewards can be benefited. The minimum amount that can be entered into the staking program for stake rewards is 100 BICOT. For participants who are included in the staking program with 5000 BICOT, the "Join the Draw" button is activated. Participants can leave the staking program after the draw, if they wish, by risking the penalty.
30 Days - 4% Reward
60 Days - 9% Reward
120 Days - 20% Reward
240 Days - 44% Reward
480 Days - 96% Reward
Bicot staking penalties are calculated with the following ratio and formula:
In order for the penalty rates to be less than the reward rates, the daily reward rate is calculated by taking the two digits after the comma to the value. For example, if the 30-day program gives a 4% reward, the daily gain is 4/30 = 0.1333333333333333333333333333333.
In penalty rates, this value is accepted as 0.13 by the BICOT team and over the days remaining in the Stake program. The amount deposited is calculated by the formula * (Time spent in the program * Daily Earnings Rate) / 100.
If you want to exit the 30-day program with 5000 BICOT 1 day after joining, your penalty amount will be 5000 * (1*0.13) / 100 = 6.5 BICOT.
30 Days - 0.13% penalty is written as the number of days remaining in the stake program. (Ex: 20 days left, calculated as 20*0.13/100* deposited amount.)
60 Days - 0.15% penalty is written as the number of days remaining in the stake program. (Ex: 20 days left, calculated as 20*0.15/100* deposited amount.)
120 Days - 0.16% penalty is written as the number of days remaining in the stake program. (Ex: 20 days left, calculated as 20*0.16/100* deposited amount.)
240 Days - 0.18% penalty is written as the number of days remaining in the stake program. (Ex: 20 days left, calculated as 20*0.18/100* deposited amount.)
480 Days - A penalty of 0.20% is written as the number of days remaining in the stake program. (Ex: 20 days left, calculated as 20*0.20/100* deposited amount.)