Bitmart has announced that it has activated its staking procedures for Solster Staking on the 1st of October, 2021. It will give users access to staking STRs via Bitmart and help them reap profits up to 30 percent per month.
The participation process is simple. To participate in Solster staking, one has to register on the Bitmart portal. The STR crypto wallet provided by Bitmart should have at least 1500 STR tokens. The stake on STR should be maintained for at least 30 days to reap the desired reward amount. Thereafter, the yearly return is estimated to be thirty percent.
How do they Calculate the Staking Rewards?
On the Bitmart site, the following formula has been specified as the standard procedure for calculation of the distribution of gains after staking STR-
The total number of STR tokens each user has produced is calculated by multiplying the aggregate number of STR staking prizes Bitmart has received with the ratio of the client’s/participant’s STR holdings.
The ratio of the participant’s STR holdings can be derived by dividing the total STR holdings of the participant by the aggregate number of STRs that Bitmart has staked.
According to the official site, it will be assessing and dispensing the prizes on a monthly basis. Each participant will get rewards in proportion to their contribution by or before the 9th of every month.
Supposing a participant invests a minimum amount of ten thousand Solster tokens on the first of October, 2021, their staking rewards for the first month will encompass the duration of the time period from 1st to 31st October, 2021. They will gain the rewards at a date no later than the 9th of November, 2021. Further, a fresh round of calculation of prizes from staking will start on the 1st of every month.
According to Bitmart exchange review, Solster is a financial pool of contributors that provides a platform for capital owners to gain opportunities for decentralizing their DeFi. Based on the Solana blockcain, Solster allows its investors to engage in crypto trading, lotteries, vesting, and staking of tokens through the IDO Launchpad.