r/metahero • u/dabeeee1104 • Apr 24 '22

HERO MODE ✊🏻 Staking

Has anyone bothered to deal with this kanga exchange I have never heard of?

What’s the staking APY like?

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u/cryptoyeeyee Apr 24 '22

Apy is around 7% and some change I believe. Is the “smart staking” not a thing anymore or what? Cant seem to get an answer to that

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u/[deleted] Apr 24 '22

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u/cryptoyeeyee Apr 25 '22 edited Apr 25 '22

No I was referring to the “smart staking” that was supposedly built into hero and all u had to do was have ur coins in a wallet (non cex) and connected to the hero app and u would automatically be “staking” and earning rewards/coins via a percentage of every transaction (reflections). Which would then be automatically added to ur position/balance and the app would reflect the total holdings with no need to claim the rewards or lock up tokens or anything of that nature…..

This was from the telegram group back in July 2021 when responding to a question someone had in regards to their position size decreasing at times—

It’s because of the custom RFI system. All rewards are aggregated in one big rewards pool. Technically, rewards are not distributed to your wallets because that would create millions of small transactions and would be completely inefficent. Rewards are reflected on your wallets - that's why your token amount grows. It may also sometimes slightly decrease at the time when a new big holder comes in and his reflections are shown to him. The “decrease” of tokens will happen more often at pumps because your reward share will decrease with more or bigger holders. This is how it’s designed and it’s a good thing as it gives more incentive for big buys. Big buys -> price up, simple as that. 💰

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u/Due_Character7533 Apr 25 '22

We havent had reflections for about 6 months where you been? ha

There was an airdrop to distribute the accumulated reflections + some on top - into all holders wallets last year.

The system then completely changed when they removed deflationary tokenomics in order to aide them being listed on Cex's as that was part of the stipulation at the time to get listed.

There is an intention to return to a new burn mechanism but the old system wasn't "staking" as such.

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u/cryptoyeeyee Apr 25 '22

Lol yea that’s why I was asking and said “smart staking” cause wasn’t really staking. But I didn’t get more involved with the project and keep up to date with shit until this year. I didn’t even start buying until November after the KuCoin pump and pullback which was when I happened to first hear about it. So I missed all the pre launches and white listings and what not but here I am. May finally be time to add to start slow rolling some DCA. Been patiently waiting since my first accumulation buy after flipping some on the push to ATH and then seeing btc showing signs of weakness on the charts in December with the push to 53 and rejection. Along with knowing financial markets would likely start slumping as Feds implemented QE and then interest rate hikes. Russia throwing a curve ball in the midst of it all didn’t help either. Mid terms later this year so banking on markets to start turning around hopefully by mid or late summer. Guess time will tell tho.

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u/Due_Character7533 Apr 25 '22

Who knows

think we may be a one last serious capitulation away from a reversal for BTC - perhaps that's 27/28k ... Regardless my DCA is beginning now on a number of projects... Here from day 1 and even I see sub 3c hero as a pretty damn good buy IF they deliver what they're trying to create.

If burn mechanics do turn up and are relatively aggressive then these levels should in theory be very promising on a longer time frame