16th September, 2021
BNB Staking Rewards commence this Friday the 17th!
Boom! Enough said.
… or we could elaborate a little I suppose ;)
By now anyone who has been staking on BUSTA DEX is no stranger to the super high APR on offer. There is a reduction of 1% every day to help draw out the juicy rewards, which helps promote a great opportunity for early investors to stock up on BUST.
And just when you thought the staking rewards couldn’t get better… we’re adding BNB into the mix!
The BUST that we’re emitting right now for the farms was always intended as merely a baseline, the plan from the beginning has been to end up with more rewards being generated and then emitted from the platform itself via the various revenue streams, and now the wait is over :)
Since launch, the BUSTA CRASH game has generated over 100 BNB in house edge revenue from 1% of all games crashing at 1.00x and all wagers in those rounds going to the house.
Last week we deployed the House Edge distribution contract and have been manually feeding BNB collected from the game through that contract. That BNB has been automatically used for buying and burning BUST, buying BUST to add more BUST-BNB liquidity, adding to the treasury for the bankroll and further development, and lastly — and most importantly here — adding additional BNB staking rewards :)
We should have about 15 BNB for additional rewards for this first week generated from the game, with some kept back to flow through to the 2nd week.
On top of that, we’ve put aside 300 BNB from the IDO (20% of the funds raised) to kickstart these rewards which we’ll spread over 3 months to take us through to December 17th.
And if that’s not enough already, all the BNB generated each day for the additional staking rewards from the game will be sent to the staking pools for the following day. Meaning the more the house receives one day, the more BNB the pools receive the next, and as the game increases in popularity and generates more revenue we’re gonna be seeing some pretty tasty BNB APY :)
We’ve got more additional rewards coming from the DEX trading fees too, but we haven’t activated those just yet, more info on that later.
The exact time for activation of the BNB rewards should be around 8am UTC on the 17th but given the nature of the process, don’t be alarmed if it takes an extra hour or two for them to start flowing.
Thanks for your patience everyone and we’re looking forward to seeing some BNB payouts!