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The official start of staking and reward distribution

December 10, 2021

Category: News

Kyiv Ukraine, December 10th, 2021: Smartlands announces the official start of staking and fee pool distribution.

We are excited to announce that the first technical fee distribution took place today and was completed at 3.20 pm GMT. All qualifying token holders have received their share of the pool with the entire process carried out automatically by the Smartlands system bot according to the number of tokens and the number of days staked during November 2021.

This event opens staking on our platform, with rewards being distributed on a monthly basis. The fees are generated by new listings on the platform and any secondary market activity and 33% of this fee pool are due for distribution to qualifying members of the Smartlands community. 

We have amassed an impressive pipeline of high-quality commercial real estate and will be making additional announcements shortly to describe the most significant projects. In addition, we have several STOs planned from the ongoing partnership with Big-U and the Regional Development Authority of Odesa in the SME category.

The staking functionality was launched earlier this year, and during this time, our early adopters have assisted us with feedback to improve the functionality of the wallet and get it ready for mass adoption. The total number of wallets on the platform is about 1500 to date. 

To become a qualified holder, one should stake SLT in a minimum equivalent of 1000 EUR. The exchange rate and SLT price are set on the first day of every month and apply to the entirety of that month.

 

For those looking for the details of the Smartlands platform fee generation, please refer to this blog.

 

Below we set out the calculation process by which the staking rewards will be earned by each qualifying SLT holder using a simplified structure for ease of understanding.

There are 3 users in the staking pool on the last day of the month. There are 30 days in the month.

The first user transferred 500 tokens and participated for 10 days. The second user transferred 200 tokens and participated for 30 days. The third user assigned 100 tokens, added another 200 tokens 10 days later, and participated until the end of the month.

The total amount of all tokens they have invested is 1,000. The total reward pool for distribution at the end of the month is 500 tokens.

First, we calculate the weighted average of each user’s participation. For each user, it will be as follows:

  • User 1: 500 (Tokens transferred by user)*(10/30)(Days)=166.6666
  • User 2: 200 (Tokens transferred by user)*(30/30)(Days)=200
  • User 3: 100 (Tokens transferred by user)*(1/3)(Days)+(100(Tokens transferred by user)*(2/3)(Days)+200(Tokens transferred by user)*(2/3)(Days))=233.3333

Next, we need to know the share of each of the participants in the total value.

  • User 1: 166,6666/(166,6666+200+233,3333)=0,2778
  • User 2: 200/(166,6666+200+233,3333)=0,3333
  • User 3: 233,33/(166,6666+200+233,3333)=0,3889

Accordingly, the share of each of the participants in the distribution of remuneration will be:

  • User 1: 27,78%
  • User 2: 33,33%
  • User 3: 38,89%

The formula to calculate benefit by the end of the month is:

  • User 1: 500(Total fee pool)*27,78%(User’s percent)=138,9
  • User 2: 500(Total fee pool)*33,33%(User’s percent)=166,65
  • User 3: 500(Total fee pool)*38,89%(User’s percent)=194,45

On the first day of the next month, users will receive the following premium:

  • User 1: 138,9 tokens
  • User 2: 166,65 tokens
  • User 3: 194,45 tokens

SLT Wallet is not only a Smartlands Platform-specific tool but a multifunctional toolbox for any trader on the Stellar blockchain. It’s designed to accommodate the most demanding trader experience conveniently and intuitively, with the most relevant information always at hand. Moreover, SLT Wallet will assist users in selecting between all investment opportunities provided by Smartlands Platform.

The official address of the SLT Wallet is https://wallet.smartlands.app/.

Smartlands is a digital investments platform with a proven use case for tokenizing shares in real assets. Having its mission of tokenizing the real economy and bringing all its benefits to a broad audience, Smartlands launched an alternative investments project in Ukraine. The SLT is a cryptocurrency of the Smartlands ecosystem. It is limited to a maximum of 7.1mn tokens and runs on the Stellar open-source network.