Topic: Staking should be limited and time based (Read 230 times)
every platforms have their own reasoning in their staking programs, some might need to make compromise so that they could attract many investments or maybe they simply just want to make their platform survive since giving humongous rewards means they gonna lose much more money from their pockets, I think something that binance could do might be impossible for the other platforms so I don't think all these platform should have unified programs instead they could present their own and make the users choose their own preferences.
1. They use time limit offers on their staking, meaning the staking won't run forever unlike some other projects, staking is capable of ruining a project.
2. They create spot for some period of time, e.g 100 people can stake withing the time frame of 1 month to 3 months. Binance do this a lot.
This is what real staking should look like to keep your project running without hurting the project, most especially new crypto projects.
Staking is a tricky scheme and I am sure it got no big differences from bitcoin's mining. All kind of staking based projects are getting failed over the time for the reason of continuous dumping by stakers but why bitcoin is coping against the dumps by miners?2. They create spot for some period of time, e.g 100 people can stake withing the time frame of 1 month to 3 months. Binance do this a lot.
This is what real staking should look like to keep your project running without hurting the project, most especially new crypto projects.
So, there cannot be any wrong with staking scheme but a project must need to be potential enough to keep attracting new adapters to withstand against the selling pressure of staker/miner. So, there will be no need of limiting stakers like only 100 people can do at a time or any kind of restrictions for a true potential based project.
Developers need to learn from Binance CEO and BNB, they introduce APY and APR and the exchange / project is still functioning, I know that many staking protocol are build on scams/Ponzi scheme but those that are not scam are making mistake, here is what I learnt from Binance
Binance is indeed advance on thinking about how they can make more profit, they are doing this for the benefit of both parties and re-staking might cost you another fee that's why Binance did this on a short period of time only. This can also be a good opportunity to the project to attract more investors, with this they are allowing investors to secure some profit even on a short period of time. Staking needs a lot of capital though for you to feel the profit, but if you don't have that much I don't suggest to stake at all. 
And you do not guess that Binance makes it short timed so that it can be getting commissions for each restake? That is business for you and Binance knows how best to get money off people without them knowing or feeling it.
If we only have small amount, it's realy not worty to stake. moreover if we only plan for shorter period. Better to hold in our wallet.
Time limit based staking will give advantahes for both the people who are doing staking and also for the platforms. So, they can manage and measure the APY or profits that they will spend and earn.
Developers need to learn from Binance CEO and BNB, they introduce APY and APR and the exchange / project is still functioning, I know that many staking protocol are build on scams/Ponzi scheme but those that are not scam are making mistake, here is what I learnt from Binance
1. They use time limit offers on their staking, meaning the staking won't run forever unlike some other projects, staking is capable of ruining a project.
2. They create spot for some period of time, e.g 100 people can stake withing the time frame of 1 month to 3 months. Binance do this a lot.
This is what real staking should look like to keep your project running without hurting the project, most especially new crypto projects.
The CEO of Binance is a wise man and I think many other crypto CEO should learn from him. He has a strategy that had been working for him since the last hack attempt on the company. Binance was able to program there staking in a way that is suitable for every investors no matter how much you are staking or the kind of coins or tokens you are staking. Staking is another way to earn bonus when you are not using your coin for anything and it can be very rewarding if the fund is huge. I had made some staking on Binance and I had make some few dollars from it since the crypto market is still dipping. 1. They use time limit offers on their staking, meaning the staking won't run forever unlike some other projects, staking is capable of ruining a project.
2. They create spot for some period of time, e.g 100 people can stake withing the time frame of 1 month to 3 months. Binance do this a lot.
This is what real staking should look like to keep your project running without hurting the project, most especially new crypto projects.
But leaving a large amount of money on centralized exchanges is quite risky, although the profit from staking is not so bad during this bear season. So far, Binance is safe after a bunch of Fuds targeting them, but we also need to be careful. Anything can happen, even major exchanges like Binance are no exception.
After all, the use of CEX will never stop, it provides us with many services that can make us profitable even during the bearseason, which no other DEX can do.
Developers need to learn from Binance CEO and BNB, they introduce APY and APR and the exchange / project is still functioning, I know that many staking protocol are build on scams/Ponzi scheme but those that are not scam are making mistake, here is what I learnt from Binance
1. They use time limit offers on their staking, meaning the staking won't run forever unlike some other projects, staking is capable of ruining a project.
2. They create spot for some period of time, e.g 100 people can stake withing the time frame of 1 month to 3 months. Binance do this a lot.
This is what real staking should look like to keep your project running without hurting the project, most especially new crypto projects.
Staking on exchanges does not seem attractive to me anymore, because your money can just disappear. A perfect example of this is the recent FTX collapse. So I would trust exchanges in the last place, no matter Binance or any other exchange. By the way, there are a lot of projects where you can stake right through your wallet. Polkadot for example.1. They use time limit offers on their staking, meaning the staking won't run forever unlike some other projects, staking is capable of ruining a project.
2. They create spot for some period of time, e.g 100 people can stake withing the time frame of 1 month to 3 months. Binance do this a lot.
This is what real staking should look like to keep your project running without hurting the project, most especially new crypto projects.
Especially in choosing the platform that we will use for staking.
It can be seen from the collapse of FTX that has occurred, even though FTX itself is one of the biggest crypto platforms and from this it can be a reference for us to really have to choose a good platform.
Even though we ourselves don't know how a platform will develop in the future and let us not lose money because of staking on an inappropriate platform.
With staking, before you use money to buy a coin, a token and stake it, you must have understanding about [DeFi Tutorial] What is Impermanent Loss?
A longer you stake, the more coins and tokens you will have than the initial number you use for staking. Very sadly, having more coins and tokens don't bring you profit from initial investment for staking.
The lock time is long and risky. If you can not sell your coins soon enough to get initial capital, you will face with impermanent loss.
A longer you stake, the more coins and tokens you will have than the initial number you use for staking. Very sadly, having more coins and tokens don't bring you profit from initial investment for staking.
The lock time is long and risky. If you can not sell your coins soon enough to get initial capital, you will face with impermanent loss.
I think staking in binance honestly is just different models of an advertisement, the main reason binance could have this much flexibility in their staking programs was mainly because it's a mix of advertisements and staking meanwhile if you see some other platform staking will definitely requires you more than that, after all the lesser known platform have lesser flow of money meaning they couldn't create as good programs as binance since i'm pretty sure binance is also getting involved with the rewards model and could even add some of the rewards from their own pockets.
but then again, the very reason why cryptocurrency investing is interesting is basically the fact that there are various staking programs offered by different platform, you could just one that suits you.
but then again, the very reason why cryptocurrency investing is interesting is basically the fact that there are various staking programs offered by different platform, you could just one that suits you.
Developers need to learn from Binance CEO and BNB, they introduce APY and APR and the exchange / project is still functioning, I know that many staking protocol are build on scams/Ponzi scheme but those that are not scam are making mistake, here is what I learnt from Binance
1. They use time limit offers on their staking, meaning the staking won't run forever unlike some other projects, staking is capable of ruining a project.
2. They create spot for some period of time, e.g 100 people can stake withing the time frame of 1 month to 3 months. Binance do this a lot.
This is what real staking should look like to keep your project running without hurting the project, most especially new crypto projects.
1. They use time limit offers on their staking, meaning the staking won't run forever unlike some other projects, staking is capable of ruining a project.
2. They create spot for some period of time, e.g 100 people can stake withing the time frame of 1 month to 3 months. Binance do this a lot.
This is what real staking should look like to keep your project running without hurting the project, most especially new crypto projects.
Not sure about this, maybe it was successful because the staking happen to the biggest exchange of them all? So for me it based on who is offering it, of course staking on mid-tier exchanges will be different design because they want to take advantage and make profits as well, as they usually does.
So what I'm saying is that not all staking protocol are equal, maybe others have different design and became successful with it. While others might fail for some other reasons. There's no such thing as one size fits all in crypto.
Here is the thing, upon opening the Binance Staking website page, I was greeted with this information "Binance strives to offer its users only the best DeFi Mining projects. However, Binance only acts as a platform to showcase projects and provide users with related services, such as accessing funds on behalf of the user and distributing earnings, etc. Binance does not assume liability for any losses incurred due to project on-chain contract security issues." Emphasis mine.
With that in mind, Binance does not technically manage those 2 prerequisites. It only exists because the Binance side enforces it on their end, and does not imply it will be safe and ensure the longevity of a project or exchange. It is rather a bad thing to put a staking coin or token via an intermediary like Binance. Besides having a risk exposure on the staking platform, you adding up a risk factor with Binance itself.
With that in mind, Binance does not technically manage those 2 prerequisites. It only exists because the Binance side enforces it on their end, and does not imply it will be safe and ensure the longevity of a project or exchange. It is rather a bad thing to put a staking coin or token via an intermediary like Binance. Besides having a risk exposure on the staking platform, you adding up a risk factor with Binance itself.
Staking on centralized exchanges like Binance is obviously different than staking at decentralized ecosystems like pancakeswap. They reply to different demands. People who stake coins on Binance are generally ones that wanna invest considering long term profits. They tend to pick better altcoins and start 3-6 month limited staking. But on defi projects people wanna quickly make money through feeding pools or just farming money. Obviously that kind of projects are very very speculative! And may damage crypto ecosystem. I also prefer Binance to other because I think it is trustable, yet, centralized exchanges may die like FTX.
Developers need to learn from Binance CEO and BNB, they introduce APY and APR and the exchange / project is still functioning, I know that many staking protocol are build on scams/Ponzi scheme but those that are not scam are making mistake, here is what I learnt from Binance
This is what real staking should look like to keep your project running without hurting the project, most especially new crypto projects.
This is what real staking should look like to keep your project running without hurting the project, most especially new crypto projects.
I think there is a little misconception here between native asset staking and staking on a yield farm or on an exchange or something like that. I don't think that staking a token that has native staking programmed into it will ruin it. Obviously this was all thought through when the project and the tokenomics were created. Projects like Atom, Radix, Polkadot and now also Ethereum all have a staking functionality and i think all of those projects have good fundamentals.
Staking assets on a yield farm is a different story though. If the farm is offering huge APY's on your stake then it should be obvious that this can not be healthy in the long run, because those interest somehow need to be generated too.
Developers need to learn from Binance CEO and BNB, they introduce APY and APR and the exchange / project is still functioning, I know that many staking protocol are build on scams/Ponzi scheme but those that are not scam are making mistake, here is what I learnt from Binance
1. They use time limit offers on their staking, meaning the staking won't run forever unlike some other projects, staking is capable of ruining a project.
2. They create spot for some period of time, e.g 100 people can stake withing the time frame of 1 month to 3 months. Binance do this a lot.
This is what real staking should look like to keep your project running without hurting the project, most especially new crypto projects.
Staking on exchanges does not seem attractive to me anymore, because your money can just disappear. A perfect example of this is the recent FTX collapse. So I would trust exchanges in the last place, no matter Binance or any other exchange. By the way, there are a lot of projects where you can stake right through your wallet. Polkadot for example. 1. They use time limit offers on their staking, meaning the staking won't run forever unlike some other projects, staking is capable of ruining a project.
2. They create spot for some period of time, e.g 100 people can stake withing the time frame of 1 month to 3 months. Binance do this a lot.
This is what real staking should look like to keep your project running without hurting the project, most especially new crypto projects.
And you do not guess that Binance makes it short timed so that it can be getting commissions for each restake? That is business for you and Binance knows how best to get money off people without them knowing or feeling it. From your argument now it is clear you do not know that those short durations on staking is never to the advantage of those who are staking but for the exchanges that do it.
Binance does not charge any stake/restake commissions. In addition, in the case of longer staking (60, 90, 120 days), it usually offers a higher APR than you can get by staking in your own wallet or taking advantage of the opportunities offered by a given project. So in the case of staking, they rather pay extra than earn on it. Such a solution is therefore more profitable and more convenient for the user, and Binance probably pays for these costs thanks to the commissions from trading it will generate thanks to users encouraged in this way. However, it is necessary to remind here about the risk of keeping funds on exchanges. Not your keys, not your coins.
indeed sometimes the reward being given out from staking could be the main reason some coin decrease in term of valuation, BNB has always made some really good decision in keeping some projects alive, even their business decision in keeping their reputation by doing anything that could ensure their survival is the main reason they always being throned #1 exchange until now.
but then again staking could always just being held in order to make the coin gaining reputation, keeping the staking programs for too long is definitely mistake from the project side since I'm sure they themselves knew it's gonna destroy their coin eventually.
but then again staking could always just being held in order to make the coin gaining reputation, keeping the staking programs for too long is definitely mistake from the project side since I'm sure they themselves knew it's gonna destroy their coin eventually.
Its is just a lucrative model of staking which encourages more people to stake and with the name of their brand and reputation they are on the top while making lot more money with the staked funds by using it other forms which can be anything and pay the stake holders a bit so st the end its win win for both and you aren't the real benefitor other than Binance.
I dont think that is true all the time. FUN is doing great by collaborating with different platforms and spreading the staking opportunity for their platform. FUN is available on binance, huobi,
free bitcoin. The last one is amazing collaboration we might have seen until now. Along with the taking the platform is capable of giving away other premium features.The point of this, they are actually very much profitable when they stake the coins. It creates good hodling position in the market. Its more or less shorting the market with supply and thus creating huge demand for the coin. This makes it grow actually over the period of time and thus everyone is able to make the profits out of it. It's more or less savings plan with hyped rates
free bitcoin. The last one is amazing collaboration we might have seen until now. Along with the taking the platform is capable of giving away other premium features.The point of this, they are actually very much profitable when they stake the coins. It creates good hodling position in the market. Its more or less shorting the market with supply and thus creating huge demand for the coin. This makes it grow actually over the period of time and thus everyone is able to make the profits out of it. It's more or less savings plan with hyped rates
You do realize that the only reason people subscribe to those kind of limit and time frame is because it's on Binance. Investors are not drawn to the terms but by the name of the platform offering it.
I doubt new staking platforms would get a lot of users if they follow what Binance is currently offering. They have to give something enticing first and then they can adjust the staking terms.
I doubt new staking platforms would get a lot of users if they follow what Binance is currently offering. They have to give something enticing first and then they can adjust the staking terms.
(....)
This is what real staking should look like to keep your project running without hurting the project, most especially new crypto projects.
For some reason, they are also doing this because of marketing, like an advertisement of their centralized exchange. Because there are a lot of decentralized exchanges you can achieve this.This is what real staking should look like to keep your project running without hurting the project, most especially new crypto projects.
But Binance making it easy so people can just easily use centralized exchange for it with just some twists.
If you want to real staking, then why wouldn't you just run your own node then?
(....)
I think OP mentioned a lot of ways of staking on the Binance. You can stake a lot of cryptocurrency on Binance, bitcoin, and Ethereum, and easily get it back. (....)
Developers need to learn from Binance CEO and BNB, they introduce APY and APR and the exchange / project is still functioning, I know that many staking protocol are build on scams/Ponzi scheme but those that are not scam are making mistake, here is what I learnt from Binance
1. They use time limit offers on their staking, meaning the staking won't run forever unlike some other projects, staking is capable of ruining a project.
2. They create spot for some period of time, e.g 100 people can stake withing the time frame of 1 month to 3 months. Binance do this a lot.
This is what real staking should look like to keep your project running without hurting the project, most especially new crypto projects.
The CEO of Binance is a wise man and I think many other crypto CEO should learn from him. He has a strategy that had been working for him since the last hack attempt on the company. Binance was able to program there staking in a way that is suitable for every investors no matter how much you are staking or the kind of coins or tokens you are staking. Staking is another way to earn bonus when you are not using your coin for anything and it can be very rewarding if the fund is huge. I had made some staking on Binance and I had make some few dollars from it since the crypto market is still dipping. 1. They use time limit offers on their staking, meaning the staking won't run forever unlike some other projects, staking is capable of ruining a project.
2. They create spot for some period of time, e.g 100 people can stake withing the time frame of 1 month to 3 months. Binance do this a lot.
This is what real staking should look like to keep your project running without hurting the project, most especially new crypto projects.
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