Stake VPROPEL and earn 10% PROPEL each month
We are now finally live with our first version of staking. I will explain here how to stake, why staking VPROPEL, and what is coming next in PayRue Staking and PayRue DEX.
The first staking in PayRue is to stake the VPROPEL to earn PROPEL.
VPROPEL is the vested token of PROPEL the supply is fixed to 3 billion PROPEL (3,000,000,000) which represents a total of 37.5% of the total PROPEL supply and is holders of VPROPEL can swap (exchange) into PROPEL after the 4th of November 2021 at 1:1. The price of VPROPEL is fixed at 0.005 BUSD.
To buy VPROPEL connect your MetaMask to PayRue DEX
You can buy VPROPEL with BUSD or BNB on Binance Smart Chain.
THE STAKING
Once purchased the VPROPEL you will hold the VPROPEL on your PayRue DEX Exchange Wallet
The staking works as follows each day PayRue takes a snapshot of each VPROPEL wallet, and every 30 days we will payout 10% of your VPROPEL holding in PROPEL.
To clarify the staking, if you buy VPROPEL today, your staking of PROPEL period starts the following day.
The payment/distribution of your PROPEL staking will be paid directly to the MetaMask Wallet you used to purchase the VPROPEL.
For example: if you hold 20,000 VPROPEL in PayRue DEX Wallet, we will reward you with 2000 PROPEL for that period.
WHY VPROPEL?
To benefit of holding VPROPEL is the price is fixed and supply is 37.5% of the total PROPEL supply. This basically allows the holder VPROPEL to benefit from the upside and swings in price PROPEL during the vesting period and after expiry as well if so want.
For example
Sally buys 20,000 of VPROPEL for 100 BUSD (20,000 * 0,005), each month Sally earn her 10% reward in PROPEL which is 2,000 PROPEL. Possible scenarios could be as follow:
a) Sally holds 20,000 VPROPEL for 10 months then Sally would have earned a total of 20,000 PROPEL on her VPROPEL Staking basically earned 100% return in PROPEL.
b) Sally decides that after January 2022 to swap her VPROPEL for PROPEL at a fixed exchange of 1:1. This would work out as follow
a) 10 month staking = 20,000 PROPEL
b) IF the price of PROPEL is at 0.01 BUSD, Sally would exchange 20,000 VPROPEL + 20,000 PROPEL for the price 0.01 = 400 BUSD minus cost of purchase 100 BUSD = Profit of 300 BUSD.
Holding VPROPEL gives the same rights as PROPEL
Investing in VPROPEL is an investment in PayRue
The sale of VPROPEL will allow PayRue to
- Support the PROPEL price with market-making & new listings
- Increase development and marketing
- Build out community
- Launch new applications, services, and products quicker
This all will ultimately support the PROPEL and benefit the community.
TO DO
In the next phase, PayRue will
- Implement updated UX/UI Design of Staking on PayRue DEX
- Add on more assets
- Reward and add Liquidity Mining to benefit traders
For more questions please contact us directly on Telegram or Email.
Best regards
The PayRue Team
