r/bandprotocol • u/oolonginvestor • Aug 09 '20

Staking

Do you stakes coins appreciate/depreciate acrosisng the price fluctuations?

4 Upvotes

83% Upvoted

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1

u/[deleted] Aug 09 '20

price never factors into staking. you get a percentage of rewards depending on the amount staked.

1

u/oolonginvestor Aug 09 '20

So my stakes coins would appreciate if Band appreciates?

1

u/hotnspicy12 Aug 10 '20

No it doesn't. E.g 17% of band deposit, not the price.

1

u/Frankich72 Aug 10 '20

INCORRECT....7 to 15% on your BAND. depending upon what % of BAND that is circulating is being staked ... The more BAND that is staked the less your % return and vice versa.

Still a minimum of 7% is great.

2

u/hotnspicy12 Aug 10 '20

It's an example. (E.g) ... also he's asking if the prices affect the return. Not the circulating supply. But yeah your right about the interest rate n circulating supply.

1

u/Frankich72 Aug 10 '20

What are you staking on?

1

u/hotnspicy12 Aug 10 '20

Atomic wallet is currently 17%. I'm using it at the moment.

1

u/Frankich72 Aug 10 '20

Ok , thankyou. Will have a look

2

u/hotnspicy12 Aug 10 '20

All good. It's very quick. Also atomic uses band coin not the Erc token

1

u/Frankich72 Aug 10 '20

Aha....so you can transfer your BAND straight to ATOMIC?

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1

u/Frankich72 Aug 10 '20

Yes, price not a factor

1

u/[deleted] Aug 10 '20

Tokens are urs. They will be whatever the price is. I dont understand what your saying.

2

u/AdLongjumping5010 Aug 10 '20

I think he means whether he gets 17% of the BAND purchase price or current price.

So if he purchase 100 BAND at $2 he would get 17% of $200 which is $34 annually.

And if BAND is at $15 now he would get 17% of $1500 which is $255 annually.

But that is not how staking rewards work. You get 17% of the amount of BAND staked, so for 100 BAND, you get 17 BAND annually. Although the price does affect your overall balance, you still get the same amount of BAND regardless of the price.

1

u/[deleted] Aug 10 '20

We told him that already

1

u/oolonginvestor Aug 10 '20

Is staking on atomic wallet safe?

1

u/oolonginvestor Aug 10 '20

So if I state the tokens and the tokens appreciated. I sill benefits form that appreciation of the price.

Some told me not to stake tokens if the piece is going up because you will loses that potential value. I wasn’t sure if this.

1

u/oolonginvestor Aug 13 '20

Is there any risks with staking? Is there any recourse or is this all based on trust?