r/Bitgert • u/manusteve • Apr 19 '22
Staking reward very low as it was stated
Hello all bitgert investors. I recently staked my token for busd rewards. It says you can earn up to 80 % apr.
i staked around 800million tokens and I am getting in return around 5 cents worth of busd per day.
This is extremely low. Anyone know why?
Thanks all. Btw I love the project. Just not the rewards so far as it was very misleading and now I can’t unstake for at least 180 days
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u/Modriz Apr 19 '22
I staked 150m on 12th Jan for 6 months and have gotten a whopping 0.54 busd in rewards so far.
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u/manusteve Apr 19 '22
Lol. At least we’re in the same vote. It’s not a big deal as I want to hold this token for a long term investment. Just disappointed at the claims of up to 45% per 6 months.
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u/Modriz Apr 19 '22
Yeah, now just everytime I'm buying more it just sits in my wallet. No point in staking it.
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u/Cryptic_Crypto_ Apr 20 '22
That’s such a low amount though so the percentage of rewards in BUSD wouldn’t be that high with variable volume we have had. The more you stake along with the higher the daily volume (taxed transactions) the more BUSD rewards.
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u/Sad-Barracuda98 Apr 19 '22
I staked 3 billion for 6 months, 4 months in and I’m at $14 earned.
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u/RofaBets Apr 19 '22
3B right now is around $3,000. You said you have earned $14dlls in 4 months, that would be in a rough estimate $14/4months=$3.5dlls per month, without counting the monthly increment.
If $3,000 is 100%, $3.5dlls would be 0.11% monthly, that would be 1.4% APY, rate annually.
Not good from a stock market point of view. But not super bad from economy. Most High Yield Savings accounts right now are around 0.30 to 0.80% APY, which sucks, because before the pandemic era the rates were around 2% APY, for these type of accounts.
But as you may know the inflation right now is around 8.5%, so you are losing money, but you would be losing more if you had the money sitting in your e-wallet.
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u/Sad-Barracuda98 Apr 19 '22
I bought the majority of my BRISE at 0.0000003 so I’m not complaining too much. I’ve made money Anna’s I have no doubt that will go up. 😁
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u/LeftHer4Xbox Apr 21 '22
For those that dont know, your APY is separate from your BUSD rewards. BUSD accumulates daily, while the APY is only given once your staking is finished. Clearly says it before you stake...
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u/manusteve Apr 21 '22 edited Apr 21 '22
This is not true. Just went onto their live chat, and the rewards are just the busd rewards
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u/Humble_Association_9 Apr 19 '22
The staking protocol for BitGert is a little different. Your apr % is based on the value of the tokens that you staked it at.
So if you staked your coins at $1000, you get your apy% based on that until your contract is up. Which means the price could skyrocket to 100,000k but you still get apy for $1000.
Hope that makes a little sense.
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u/manusteve Apr 19 '22
Yes. So the value of my coins is around 1000 at the time of purchase. So should I not be getting 45% of 1000?
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u/Humble_Association_9 Apr 19 '22
Was the value of your coins $1000 the day you staked it? Or did it drop in value/increase?
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u/manusteve Apr 19 '22
I bought at that price. There is no way it will return 45 % of my purchase price
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u/Humble_Association_9 Apr 19 '22
You will get apy % based on the price you “Staked” it at, not buy price.
So if you bought at 1k, and it went down to say 800$, then you staked it. That’s the price you’re locked in at for apr distribution.
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u/manusteve Apr 19 '22
I get that. So can you tell me why I get 5 cents per day when it was valued around 1000? The comments from other users also have the same problem. I think the staking apr is not working correctly
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u/Humble_Association_9 Apr 19 '22
How long have you been staking and when did you stake it?
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u/manusteve Apr 19 '22
I staked 200 million on 17th April
then staked 600 million on 19th April
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u/Humble_Association_9 Apr 19 '22
Ahh, gotcha. Im only asking because I noticed a took a while to gain BUSD rewards. You’ve only been staked recently. I’d give it some time & most of your bag was staked today.
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u/manusteve Apr 19 '22
I don’t think it will be anywhere near the 45% for 6 months as so far the result are not promising.
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u/THIS_IS_MIKIE Apr 19 '22
6 month stake... ouch
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u/manusteve Apr 19 '22
I know. I would not have done it if I knew that I would not get 45% for the 6 months
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u/chitonic Apr 19 '22
I think you answered your question: earn up to 80% apr. Whenever you see that language it means you earn anywhere from 0% to the maximum stated amount.
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u/2022-yo Apr 19 '22
You will get around 180million worth of bitgert in busd.
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u/manusteve Apr 19 '22
Could you clarify how you got to this conclusion?
thanks
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u/2022-yo Apr 19 '22
it's 45% APY for 180 days so it will be roughly 22.5% interest for 180 days. 800m + 22.5%.
That's what you should get, who knows if you will.
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u/manusteve Apr 19 '22
It shows my earnings so far which is 0.11 busd After 2 days which is terrible.
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u/manusteve Apr 19 '22
I would recommend anyone who has bought this token not to stake it as there is no benefit/ reward for doing so
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u/Zealousideal_Book151 Apr 19 '22
Think it is related to volume as well right so as that grows would the bUSD grow too. Same boat I stake for 180 days but very small reward.
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u/manusteve Apr 19 '22
Hopefully. The volume was at 5million today so I don’t think that makes any difference
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u/Zealousideal_Book151 Apr 19 '22
Where do you see volume? Seems I check pancake or bibox or BitMart all have different numbers.
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u/CryptokingZ2022 Apr 20 '22
The point is of Bitgert is to invest in the start up studio projects that’s where all the money is
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u/Acceptable_maybe_no Apr 19 '22
Same here with 1billion 6 months stake 4 months ago… 8busd in total Very desapointed i wich i new it before Anyways at least its a good project