Claiming Fees via Staking Nash Exchange Tokens
Users can stake their Nash Exchange tokens in a smart contract that pays out a proportion of exchange and payment service fees. To stake their tokens, users send their Nash Exchange tokens to the smart contract via a staking method that records the starting block and the amount sent by the user. The user can then make periodic claims on the contract to retrieve their share of Nash Exchange profits since staking began. Users can commit to staking their tokens for longer periods of time to receive a larger proportion of fees. The base rate of fee share will be 25%, if the user stakes their Nash Exchange tokens for one month, increasing linearly up to 75% if a user is willing to stake for two years.
Note: staking rewards are always calculated using the whole 50,000,000 Nash Exchange supply and is not dependent on the actual amount of NEX staked
See claim example below.
A user owns 1,000 Nash Exchange tokens, and Nash Exchange has generated fees in tokens equivalent to 100 million dollars at market value since they last made a claim. Assuming the user has staked Nash Exchange tokens at the two-year staking rate of 75%, they would be eligible for a claim worth:
$100,000,000 ∗ 1,000 / 50,000,000 ∗ 0.75 = $1500.
The claim can be received:
- The user claims a direct cut of fees across each token on the exchange, so if Nash Exchange is trading NEO, GAS, Nash Exchange (NEX), and PHX (formerly RPX), the user would receive a share of each of these assets.
- The user claims an equivalent amount in one preferred asset type. Here Nash Exchange will do the conversion automatically using its trade features and corresponding fee structure.