Hi guys,
I might be interested to buy some POS tokens from an exchange and I try to understand the concept of staking after watching a few videos on YouTube. It is written on the website that the interest rate for the first year is 100%. So if I buy 10 POS, I will get 20 POS one year later in my wallet. The interest year for the second year is 50%, so I will end up with 30 POS two years later, etc. That's pretty easy to understand if I keep the tokens in my wallet without touching them.
On the other hand, I don't understand what will happen if I buy my tokens one year from now from an exchange (October 2018 for instance )...
Will I get an interest rate of 100%, 50% or another rate depending on when the token was first minted (I don't know what interest rate I'm buying in this case)?
Does it reset to 100% when the token is exchanged from one wallet to another wallet?
Is a smart contract with a date attached to each token minted?
Thank you.
I believe it's the first year since the contract was created and not the first year of your wallet. So if you buy your tokens one year from now in 2018 you will get the current interest rate for that specific time of the contract, that will be in the second year the 50%. Otherwise people would just create new addresses and keep getting the 100% interest rate.
That's why this is the right time to hodl PoSToken because we will never get 100% interest rate after the first year, and 2 months are already gone from the first year since the contract was deployed in August if I'm correct.
