BEP-2 NOW Staking News
Originally published in the ChangeNOW blog
Recently, our specialists have not only renewed NOW staking principles for BEP-2 tokens but also introduced ERC-20 NOW staking with simplified mechanics. Thanks to these updates, it is now even more easy to capitalize on both your BEP-2 and ERC-20 NOW!
Under the new scheme, one can simply call the ‘Freeze’ method to stake BEP-2 tokens/send a deposit onto a smart contract for ERC-20 ones. ERC-20 NOW may be redeemed any time after a one week lock-up; upon this period, users gain full control over their assets.
For BEP-2 staking, we have also introduced a new compound interest formula. Now, accrual is computed based on both the initial deposit and the interest accumulated over the previous periods.
It is good to know that both BEP-2 and ERC-20 deposits may be increased in volume later on: you won’t lose the interest that has already been accumulated. Still, the interest will be lost if the BEP-2 deposit volume has been decreased by the ‘Unfreeze’ method or the user has withdrawn ERC-20 tokens from the deposit.
Interest is credited on a weekly basis — on Wednesdays at 12:00 UTC.
All in all, users have no restrictions on holding their assets on the staking accounts and can receive their NOW tokens back along with all accrued interest by calling the ‘Reclaim’ method of the staking contract.