After successfully deploying the Stater.co rebrand we are excited to announce the next step in the development of our product: rewarding our active users that want to borrow or lend on our platform.
Borrow, Lend & Earn STR
Starting from today, all borrowers and lenders will receive $STR rewards for using our product. We have allocated a weekly pool from our treasury of $STR tokens that will be equally split between both borrowers and lenders.
The aim of the rewards campaign is to bring more users to the platform as well as retaining the existing ones and create awareness in the market on the NFT lending concept.
Start earning now: https://stater.co/
How it works
- An initial rewards pool of 10.000 $STR will be allocated on a weekly basis for incentivizing usage on our platform in the first phase. Based on the platform usage, we will do a weekly review to update the pool and increase the rewards.
- For every borrow package created or loan offered the user will receive one point.
- Every Sunday, rewards will be distributed based on the amount of points gathered throughout the week by all users.
- The total pool rewards will be divided by the total number of points gathered in the week from all users in order to determine the value of each point and it will be multiplied by the total number of points that each user has accumulated.
- The rewards system will be done by the following formula: (total rewards pool/total points) * user points = user amount in $STR.
- For example, if you have 10 points from an allocated weekly pool of 10.000 $STR and there were 100 total points from all users, you will receive 1000 $STR tokens. (10.000/100) * 10
- We will automatically send the $STR rewards to each user in their erc-20 wallet every Sunday.