The Stake to Vote allows users to vote on listing new tokens by staking specific tokens (e.g., USDT, USDC, WUSD, BMX).
This initiative offers dual rewards:
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Earn interest on staked assets.
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Receive airdrops of the newly listed token upon successful voting.
Below is a detailed guide on how users can participate and benefit from Stake to Vote.
Overview
The process is divided into distinct phases: the Qualification Period, the Voting Period, and the Airdrop Period.
Qualification Period (T-4)
Action: Click the "STAKE" button and complete the minimum token staking requirement.
Rewards: Flexible interest accrues once staking is completed.
Redeemable: Available before T.
Voting Period (T)
Action: Click the "VOTE" button.
Note: Unqualified users will not have access to the voting process.
Rewards: Flexible interest continues to accrue.
Redeemable: Staked assets will be unlocked and available for redemption once the voting ends.
Airdrop Period (T+10)
If the voted token is successfully listed, participating users will receive airdrop rewards based on their staked amounts after the token is listed.
Rewards: Flexible interest accrues until the end of the voting period (T+3), followed by airdrop rewards.
Redeemable: The staking amount and accrued interest will automatically be redeemed to users' accounts once the voting concludes.
Airdrop Calculation:
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User’s Airdrop Share = (User's Staked Amount / Total Staked Amount)
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Airdrop Value = User’s Airdrop Share * Total Airdrop Pool
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Key Rules and Conditions
i. Minimum Staking Amount: The minimum staking amount varies for each voting event. Please check the announcement prior to the event.
ii. Success Criteria: Each staking pool has a specific threshold. The token will be successfully listed once the total stakedamount exceeds this threshold.
iii. Staking Lock Period: During the voting period, all staked assets will be locked and cannot be redeemed; however, interest will continue to accrue.
iv. KYC Requirement: Users must complete KYC to be eligible for participation in the event.
v. Participation Requirement: All participating users must strictly adhere to these terms and the BitMart User Agreement.
vi. Modifications and Cancellation: BitMart reserves the right to cancel, modify, or suspend the event without notice due to technical issues, fraud, or any other factors that compromise the integrity of the event.
vii. Rewards: Rewards will be distributed within 7 business days (excluding national holidays and weekends) after the voting concludes.
viii. Fraud Prevention: BitMart may revoke rewards or freeze accounts if any fraudulent activity is suspected.
ix. Final Interpretation: BitMart reserves the right to make the final interpretation of the terms of the event. For any questions, please contact customer service.
Risk Warning
Use of BitMart services is entirely at your own risk. All crypto investments, including earnings, are highly speculative in nature and involve substantial risk of loss. Past, hypothetical, or simulated performance is not necessarily indicative of future results.
The value of digital currencies can go up or down and there can be a substantial risk in buying, selling, holding, or trading digital currencies. You should carefully consider whether trading or holding digital currencies is suitable for you based on your personal investment objectives, financial circumstances, and risk tolerance. BitMart does not provide any investment, legal or tax advice.
