Stake BRIGHT
Join the Union by staking BRIGHT
Last updated
Join the Union by staking BRIGHT
Last updated
Many cryptocurrencies allow for staking in a staking pool. This can be seen as a interest-bearing savings account which requires you to lock your funds for a certain amount of time. The reason why - at many good projects - your crypto earns a reward is because they are put to work instead of being idle.
Your BRIGHT token can be put to work in two ways:
Stake your BRIGHT tokens with Bright Union (see below)
Stake BRIGHT and ETH tokens into a Uniswap liquidity pool (Stake BRIGHT/ETH UNI V2)
Your tokens will be accumulating a reward while being "locked" in the protocol. a cooldown period of 7 days exists before unstaked tokens can be withdrawn back to your wallet.
Once the DAO is operational, staking BRIGHT tokens will provide you voting rights proportional to the amount of BRIGHT tokens you have staked
Buy BRIGHT tokens (link to guide)
Go to Stake BRIGHT in the application (link to page)
Connect to your Metamask wallet (link to guide)
Press "Stake BRIGHT" and select an amount
Approve spending of BRIGHT token in your Metamask wallet
Approve the transaction in your Metamask wallet
Your wallet now contains stkBRIGHT as a proof you staked BRIGHT (these tokens can now be send to another wallet if required)
Press "Withdraw"
Select amount of BRIGHT to unstake
Approve transaction in your Metamask wallet
Wait until cooldown period has passed (7 days)
Press "Unstake" in the next 24 hours
Your wallet now contains BRIGHT (including the rewards earned during cooldown)
Note: While cooldown period is ongoing the amount of BRIGHT to be unstaked can be adjusted at any time
The Annual Percentage Yield (APY) is the rewards the user receives for staking BRIGHT tokens for an entire year. The APY is a dynamic number which can increase or decrease based on the total amount being staked by all users together.
As the amount of BRIGHT tokens in circulation will grow over three years it pays of to start staking early as the rewards will be shared with less users.
Tokens released per block per year: Bright Union will release 0.3 BRIGHT token for each block released on the Ethereum Blockchain (~every 12 seconds). This amount can be adjusted through votes of the DAO. Blocks Per Year: There are roughly 2.3M blocks released per year. This implies that nearly 1.15M BRIGHT tokens are released per year. This is roughly ~1% of the total supply per year (which is available after 3 years). Total BRIGHT Staked: The total amount of BRIGHT tokens staked by all users together.
Yield For User: The amount of BRIGHT tokens the user will receive his/her staking for the duration of a single block BRIGHT Staked By User: The amount of BRIGHT tokens staked by the user
or
During the staking period the user will have a hidden amount of stkBRIGHT in their wallet is a proof of staking the BRIGHT tokens. This is a derivative token exist as a proof of staking and can be traded as a EC20 token with any Ethereum wallet
