The staking function launched on Dsdaq could be thought as a less resource-intensive alternative to mining. It involves holding funds in a cryptocurrency wallet to support the security and operations of a blockchain network. Simply put, staking is the act of locking cryptocurrencies to receive rewards.
On Dsdaq, you’ll be able to stake your coins from your crypto wallet and earn rewards of various popular tokenized assets in an utterly simple way – all you have to do is hold your coins on the exchange.
Let me explain a bit about the tokenized asset mentioned above.
Because Dsdaq provides users traditional financial assets to trade, we will also reward users those most popular tokenized assets as rewards for staking. For example, Tesla Token(TTesla), WTI OIL token(TOIL), Gold token(TGOLD), etc.
We will buy real asset in the market and make one unit into 1000 tokens, therefore
1 share Tesla stock = 1,000 TTesla
1 barrel WTI Oil = 1,000 TOIL
1 ounce Gold = 1,000 TGOLD
So the price of the token equal to the real market price of the asset divided by 1,000. Take TTesla as example, if the Tesla stock Price is 800 USD, then TTesla price is 0.8 USD each.
What's the usage of TTesla? Good question! Holding TTesla is like you are holding the Tesla stock, you could either sell it back to us for USDT or hold it for a long term for more profit.
Now let's move on to see how staking works!
First, Click “Staking” button in the home page of Dsdaq App and enter the staking session.
You will see our offers for staking. For example, the "OD/TOIL" pair, means you could stake OD and get TOIL token as rewards. You have several options to stake OD for 30, 60, 90 or 120 days, you will see different APY (annual percentage yield) by clicking the days of staking period. The longer the staking period, the higher the APY, we will offer more staking products in the near future.
Now click the OD/TOIL button to enter the next page.
In this page you could choose the staking period and fill in the number of OD you want to stake, and you will see estimated earnings.
For instance, as shown in below screenshot, if you choose 30 days and stake 1000 OD, the APY will be 6%, and you could see the estimated total earnings after 30 days is about 5.2837572 TOIL.
PLEASE BE NOTED, this is an ESTIMATED earnings calculated by the OD price and TOIL price at the time you make the staking. Considering the current OD price is only 0.07 USDT, if the OD price increases to 1USDT each, then staking 1000 OD will get much more TOIL tokens (usually the WTI OIL price will not change dramatically)
The calculation of the result is the following:
Amount of OD
Current OD price*
Current TOIL price*
TOIL to earn
*Current OD Price: price of OD at 24:00 (UTC+8).
*Current Toil Price: price of TOIL at 24:00 (UTC+8).
*TOIL token price = 0.001* WTI OIL realtime price
*TOIL to earn=OD price*OD Amount*Est. APY*Period/(TOIL Price*365)
You can find your daily earning of staking in “My Staking” by clicking the up right button in the staking page. Daily earning will be updated around UTC +1 everyday. Please note that, the prices of OD&TOIL are changing all the time, and your actual everyday earning will vary.