What do Bankcard holders need to do?
- Go to the staking website (TBA)
- Connect your wallet/s that hold bank cards
- Claim your rewards that have been accumulating since the mint date (Aug 7th).
What is the expected runway for staking rewards?
- The initial runway based on mint funds is set for 18 months.
- As residual rewards are generated from any of the four verticals, the runway will be extended.
What are the four verticals?
240,000 ADA of mint funds raised was divided evenly across the four avenues below to increase the staking rewards pool.
- Goofy Gophers Mining Club: Funds moved and transitioned to USDT for purchase of miners on Monday, October 9th.
- Levvy Lending: BANK have already obtained over 4600 ADA on loans and 1600 ADA from selling defaults.
- Platypus Cyberpunk Real Estate: Partnering with Platypus to bridge crypto and real estate.
- Defi: Community lead vote on opportunities of involvement in tokens on Cardano.
Planned updates to the site:
COD and Holder Pass Functionality
- Beginning in November BANK will take a series of snapshots over the next coming months while their dashboard is further upgraded to incorporate additional reward metrics for these two groups.
- Holding a Holder pass or being part of COD club by maintaining a token balance over the next 4 months will merit you a percentage of the residual rewards from the bankcard verticals and from future mint vertical residuals as well. BANK are allocating 5% of total vertical rewards from the team side so it will not impact the Bankcard staking.
Partner NFT staking:
- Allowing partner project NFTs to be staked to earn BANK. Date TBD
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