So it looks like we should be able to start staking here shortly, finally! A quick summary of what we’ve been discussing with a smaller group and would like to review with the larger community.
These are all adjustable, but have worked pretty well for other projects:
Staking periods are proposed to be quarterly (12 weeks), with a 4 week un-staking period (25% per week).
Holders that were pre-migration will be whitelisted to higher staking rewards (right now proposed 70% OG/30% to new holders)
We have approximately 18M BAM that was “unclaimed”. While we don’t really know how long until the next cycle, we thought it would be prudent to start with 2M for the first quarter and see how that goes. APY is determined by the number of stakers and is variable (it will be very high to start and then declines from there. We can add more to the pool to adjust).
For OG holders that stake for each quarter, NFT’s will be made available in Q3 and Q4.
We’'ll be creating a staking pool and limit it to a small number of users for a brief period and make sure it works correctly, then open it up to everyone once we’re satisfied.
This is fantastic. Can’t wait to start staking and for the future of Bam.
My question is I have been a holder from the start, but I have moved wallet after migration. Will I still qualify for the for OG?
I believe it is ran by wallet address and not amount migrated. So as long as your wallet address has not changed then you are good. To my understanding.
When talking stake and unstake. I just want to make sure i have this understood.
Quarterly staking - a 3 month period where the allocated tokens are locked and cannot be touched for the duration, then once that contract is complete full control reverts back to the wallet likr normal plus interest paid.
Unstake - is this more of a flexibke stake where you can stake on a completely voluntary basis where i can stake and unstake as i want for any given period of time for as short or as long as i want…?
The longer you stake and lock it the higher the interest rate that would be provided *depending on variables. Thestaking rewards will be paif on a regular basis or will they only be paid out at the end of the staking period. I have been a part of many pools that have a weekly payout of staking pools.
Im in the same situation. Been with the project since day 2. I have moved my tokens to another wallet also, as I believe it could have been compromised.
Hopefully this doesnt penalise people who have stuck around.
Really happy to see some growth happening and glad to know there will be some perks for early believers in this project. I would like to thank Adam for requiting your gratitude for the community .
Just checked out the staking page. Much like the website, there are spelling errors. If the team cannot notice small details like this, what bigger things are being missed? Just a simple question from a concerned investor.
So we’ve completed a production “test”…we set the period for 24 hours with 2 periods - so that a staked amount could be withdrawn in 12 hours, for 2. We were able to execute all actions - staking, unstaking, and claiming, and the rewards calculated correctly and were distributed from the BAM contract.
One thing I noticed in an earlier post was I had 72 hours on my brain - right now we have it set at what we discussed with our smaller group - 3 month periods, where we have a 1 month unstake (25% per week)… @Pandatexasranger
, excited for this and to see nfts for us OG’s.