If you have crypto and want to quickly get some reward on it, it is possible to try staking. So you will not only receive passive income but also support the operation of the blockchain network.
What is cryptocurrency staking?
Staking is comparable to a bank deposit. You store coins in a cryptocurrency wallet to keep the blockchain running. So you stake a certain amount of cryptocurrency, that cannot be used for a certain period of time, but instead, you get a reward from the cryptocurrency platform.
Fairspin platform offers a staking program with its TFS Token — Hold To Earn. The option is available on the Staking programs page on the Fairspin website.
The average APR in the program is up to 500%, sometimes with a surge of a record daily APR of 21%.
Below we will go into more details about the program and explain how to get the most benefit from its use.
What is the Hold To Earn program?
Once a user receives TFS as a rackeback for playing on the platform or purchases them, it will become possible to hold tokens for a specified period on the Fairspin website. For doing this, a user will receive a reward — additional TFS tokens. The size of the reward depends on three factors. The first one is a period, chosen for holding tokens. The second one is the Fairspin casino income for the chosen period of token holding. As this indicator grows, the reward will also increase. The third one — is the number of users who are simultaneously holding TFS tokens. The fewer such users there are, the more tokens will be received in the end.
How the reward is calculated
It is possible to hold tokens for 3 periods. Each of them has its own size of reward pool: 8 hours with 1% of casino income, 1 day with 2% or 3 days with 0,5%.
As soon as the holding period is over, the initial tokens, as well as tokens earned within the Hold To Earn program will be credited to a user’s balance
It might be that Fairspin’s income is at zero if the casino loses money due to some players’ large winnings. But the most important thing is that tokens will never be lost. Even if the casino balance is negative during the period of holding, the initial tokens will be fully returned to a user. Or it is possible to continue holding and get profit together with the casino.
The TFS and Fairspin are ambassadors of honest relations with its players. Thus the holding history of a user is available on his TFS page. There a user can also find information on the casino income, the number of holders in each period, and his part in the pool. All the information is updated in a live mode and confirmed by data from blockchain. Fairspin is an online casino where all transactions such as deposits, withdrawals, bets and etc are published on the blockchain. This technology originally led to the total transparency of the casino and it’s programs’ work.
Disclaimer: This article is not intended to be a source of investment, financial, technical, tax, or legal advice. All of this content is for informational purposes only. Readers should do their own research. The Capital is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by reliance on any information mentioned in this article.