StayKing: Everything you need to know II.
Since its establishment, we have already prepared two articles about StayKing for you. These should help you better understand the entire product. With the arrival of our king, as well arrived the text summarizing the frequently asked questions that may arise. We will try to regularly update and keep on adding the relevant information throughout the time corresponding with the project's timeline. You can also follow our telegram group, where we try to deal with all questions and inquiries in real time.
In another article, we have outlined what StayKing actually is and what its real benefits are.
In today's article, we would like to show you how it all works and who oversees the process. We will also describe the path that your PBX will take from the moment you click the button confirming entry to StayKing.
Getting started with StayKing
The whole process begins with choosing the desired variant, or a combination of variants, in which to deposit your tokens. As mentioned in the previous article, you can select from six basic variants.
Each of these variants has its unique wallet allocated, where tokens from all PBX holders who have opted for the given variant are put into an imaginary pile. At the end of the month, tokens from these wallets are locked into a smart contract for the selected period.
Adam Neuberger also mentioned more about StayKing in the recent webinar. Check here what he has to say about it!
About StayKing and smart contracts
Many people may wonder - Where do these smart contracts come from? For this purpose, we decided to use TrustSwap's platform Team Finance. As we explained earlier, a smart contract is a contract between two equal parties and an independent intermediary. This intermediary guarantees that everything in the process will go smoothly. In this case, Team Finance fulfills this role.
A decision to use specifically their services comes due to the necessity that the whole process goes safely and smoothly - without any hiccups. As proven by time, Team Finance is already a well-known intermediary guaranteeing the security of the process as a trusted and audited partner with tremendous experience in this field. You can rest assured that the entire process is carried out according to the highest possible standards. Team Finance's track record is proven by the fact that 22,610 different projects have already chosen their services to lock in their tokens, which currently result in a worth of almost $5.8 billion.
Tokens are in. What's next?
The procedure is completed the very moment you click the confirmation button to enter StayKing. While the tokens will be locked in smart contracts, the Probinex project will continue to work and buy PBX tokens off the market every month in case of positive performance.
After making the purchase outlined above, feel free to imagine an imaginary pile of tokens, from which each of the StayKing participants will receive a share. This will directly correspond to the amount of the deposit and the StayKing variant chosen. Split tokens will appear in the back office in the new month.
Then the pleasant part comes, and that is to think about what will happen next:
- Tokens can be re-locked using the ReStake feature
- You can decide for yourself whether and for how long you will lock the tokens
- Exchange for FIAT currency is also available, there are no limits to your imagination!
When the smart contract expires
Nothing in this world lasts forever, and even every smart contract has its set predetermined time. Also, let's talk about what actually happens to that stack of tokens locked inside it after its ending. In this case, all tokens are sent back to the original sender's address and the PBX cycle is closed. All StayKing participants will then be allowed to deposit their tokens in a wallet and decide how to deal with them individually.
About StayKing and its variants
We have already mentioned that in case of the positive performance of the project, the PBX is about to be purchased from the market.
The PBX purchased with the money earned will be distributed among all program participants according to predetermined coefficients.
With the division of StayKing into individual variants, the question also arises - What is the difference between them? Now you will finally know the answer to that! The difference will lie precisely in the number of coefficients that are used to calculate the share of purchased PBXs. Their operation is best explained by the following example.
- When depositing 10,000 PBXs into StayKing 12, the PBXs earned will be credited based on the base deposit
- However, if you choose to put 10,000 PBXs into StayKing24 as well, the odds of 1.25 will apply here. The default amount for calculations will then be 12,500 PBX
- With each longer variant, the coefficient becomes 0.25 higher. With the StayKing 120 variant, the amount of 10,000 PBX has the base amount for calculating the bonus in a total of 22,500 PBX
Note: Real calculations depend on the number of PBXs in individual periods, which we cannot estimate in advance. Clients will have access to a dashboard feature where specific numbers can be seen, as well our representatives will be available to assist with all aspects of the process. You can also use the table that Adam Neuberger utilized in his webinar presentation. It can be downloaded right here.
Is there still anything unclear?
Did you read the article to the end and still have questions? We may have already answered them in the first part of the text. You can also ask us questions on our Telegram group, where our team members will answer you in real time.