Staking $BP on MyCointainer — Options and How-To
Starting on January 4th, early investors in $BP will be able to stake their tokens with our partner MyContainer. This article will review the two staking programs available, and how to use the MyCointainer website to manage staked tokens.
Beyond Protocol — A Proof-of-Stake Blockchain
As outlined in past Medium articles, Beyond Protocol provides secure device-to-device communication through a combination of hardware signatures and validating nodes. Upon mainnet launch, our protocol will function as a Proof-of-Stake blockchain, requiring a robust supply of staked tokens to support transaction validation.
With this in mind, we’ve developed two staking programs to provide generous incentives for supporting network activity — one more flexible program with a 101% APR, and a second program with a minimum 30-day lockup, higher 133% APR, and exclusive private sale access to the profit-sharing $BPEV token.
Staking Option 1 — Flexible Pre-Staking to Mainnet
- Type: Public
- Launch date: Jan 4, 2022
- Launch Platform: MyCointainer
- Yearly return: 174 percent (assuming rewards are left to compound, and not withdrawn)
- Duration: Program will retire at mainnet
- Restrictions: User can deposit and withdraw at any time, 72-hour wait on initial withdrawal
Purpose: To support the mainstream use cases we will power at mainnet, Beyond Protocol will need to launch with a thriving staking ecosystem to verify devices are who they say they are prior to them communicating with other devices. This makes hacks probabilistically impossible. Beyond Protocol’s pre-stake program is designed to stimulate the growth of the staking ecosystem through high yields and special opportunities.
Staking Option 2 — Locked Pre-Staking for $BPEV
- Type: Private
- Launch date: Jan 4, 2022
- Launch Platform: MyCointainer
- Yearly return: 277 percent (assuming rewards are left to compound, and not withdrawn)
- Other benefit: First right to participate in $BPEV pre-sale, participation based on proportion of $BP staked
- Duration: Program will retire at launch of $BPEV
- Restrictions: This program is available only to pre-sale investors, advisors, and early contributors due unlocks. To participate, these parties must pledge a minimum of 90 percent of their initial unlock and “60 Day Coordinated Stake” proceeds to the program. Tokens must remain locked for a minimum of 30 days to secure access to $BPEV private sale. Participants can withdraw at any time thereafter; however, they can only increase their position by pledging portions of subsequent unlocks. Only parties who pledge 90 percent of their initial unlock will be able to participate in subsequent months. Beyond Protocol will reach out to those who opt-in five days prior to each subsequent unlock to determine which amount they would like to pledge. Minimum pledge amounts for subsequent months will remain 90 percent.
Purpose: The clean energy revolution is here, and EV charging stations are becoming the new gas station. Through the shared fractionalized ownership of a network of charging stations, we can all own rights to the new oil. Although $BPEV is simply an economic token — a smart contract that distributes profit share — it will be built on the Beyond Protocol “unhackable” blockchain to enable the token to integrate more deeply with the charging technology and IoT devices in the future, unlocking further opportunities. More information here.
MyCointainer — Our Staking Platform Partner
All stakes will be managed by our partner, MyCointainer. To participate in either of the above programs, you must first visit their website and create a new account:
After selecting “Create Account” you’ll receive a confirmation email. Follow the instructions there and your account will be activated. For private sale participants who are due tokens at first unlock on January 4th, please follow the instructions you were sent via email on December 31st. For all other $BP holders, you’re eligible for the Option 1 staking program at 101% APR — here’s how to deposit your tokens:
Simply follow the instructions above, and you’ll begin earning staking rewards on January 4th!
Thoughts Headed Into the New Year
2021 was a phenomenal year, not just for Beyond Protocol, but crypto as a whole. Bitcoin and Ethereum reached new all-time highs, and dozens of amazing projects achieved great success through clever innovation and a commitment to decentralization. We intend to follow suit, and make our mark in a big way this coming year by solving the biggest problems in IoT today — interoperability and security.
The interest in Beyond Protocol to-date has been incredible — we ended up allocating to only four percent of those who sought to contribute to our community pre-sale. The result has been a community of long-haul supporters united in Beyond Protocol’s long-term vision who seek to double and triple down on the project at its early stage. To be sure, when we asked those due token unlocks if they’d like to sell a portion, only 10 percent expressed interest and supplied a minimum price. This is unprecedented and is a strong indication of Beyond Protocol’s breakout prospects.
We are in a strong position heading into the New Year and we are blessed that you are all with us on this journey. Thanks to all of our supporters, there is much more to come!
“With security as a given, we can open up our devices for collaboration. Using them like threads of yarn, the dreamers among us can weave together inventions we would have never thought to conceive.”
- Jonathan Manzi
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