XTRUMP YieldHub
XTRUMP Service to provide staking pools for passive income
XTRUMP provide staking pools, collectively called XTRUMP YieldHub, allowing participants to lock their tokens to receive rewards after optional staking periods.
There are 2 types of staking scenarios:
Scenario 1: Staking token A for x days to receive token A with the interest rate of y% APR
Scenario 2: Staking token A for x days to receive token B
Example 1 (Scenario 1): Let's take an example of the following staking pool (Scenario 1)
Staking token | Reward token | Period | APR | Staking pool | Min/Max cap |
XTRUMP | XTRUMP | 30 days | 120% | 100,000,000 | 100,000/1,000,000 |
Assume that a user decides to join this staking pool and sent $XTRUMP 1,000,000 (staking token, must be between min/max cap) to XTRUMP's staking wallet to lock the tokens for 30 days, then after 30 days, that user will receive $XTRUMP 1,000,000 (staking amount) + $XTRUMP 98,630 (reward amount).
The $XTRUMP 98,630 reward amount is calculated as 1,000,000*120%*30/365 and will be rounded up to closed integer.
In the above example, the staking pool will be closed after $XTRUMP 100m are locked.
Example 2 (Scenario 2):
Staking token | Reward token | Period | Staking pool | Staking cap |
XTRUMP | xLetsGoBrandon | 30 days | 100,000,000 | 10,000,000 |
In this example, assume that a user sends $XTRUMP 1,000,000 to XTRUMP's staking wallet to lock the tokens. Let's also assume that the staking cap of $XTRUMP 10,000,000 is also reached (this pool will stop when there are $XTRUMP 10m are recorded in the staking wallet). Since the staking amount is about 10% ($XTRUMP 1m/ $XTRUMP 10m) of the entire pool, after 30 days of staking period, this user will receive $XTRUMP 1,000,000 (staking amount) + $xLetsGoBrandon 10,000,000 (reward amount).
The $xLetsGoBrandon 10,000,000 reward amount is simply calculated as 10%*100,000,000.
Staking steps:
Create XTRUMP accounts with unique usernames, XUMM wallet addresses and emails.
Select a staking pool from the YieldHub. Trustline to token A and B (for scenario 2) MUST be set.
Send token A to XTRUMP's dedicated staking wallet to lock.
After the staking period, staking token (A) and reward tokens (A or B) will be sent back to users' registered wallets.
For XRPL token issuers - How to join XTRUMP YieldHub?
XTRUMP are welcome XRPL partners to participate in our YieldHub. Using XTRUMP YieldHub to reward your token holders is a great alternative to normal giveaway events for few reasons:
Reward token holders via staking will bring more incentives to big holders than normal random giveaways. The more holders hold /your tokens, the more rewards they get.
When users send staking tokens to a staking wallet, the tokens will be locked during the staking period. As the result, the selling volume during bear market will be significantly reduced and hence help maintain token price at higher level than when tokens are not locked.
Note: Token issuers can choose XTRUMP's staking wallets or create their own wallets to lock staking tokens. The staking wallets will be published on XTRUMP website to keep the transparency of the staking process. After the staking period, token issuers can send tokens back to participants themselves or ask for XTRUMP's support.
How to create a staking pool in XTRUMP YieldHub:
1. Send us message on XTRUMP Twitter's inbox.
2. Preserve a portion of the total amount of reward token for an additional XTRUMP pool. For example, if you want to open a staking pool that finally will reward 10m of your token to participants, and willing to share 20% to XTRUMP pool, then we will allocate 8m for your pool (Scenario 1) and 2m for XTRUMP pool (Scenario 2).
Note: If you don't want to to share the pool to XTRUMP then you should pay a fee of 10XRP to open the pool.
2. We highly recommend to use XTRUMP's staking wallets to lock staking tokens. However, you can also provide us your own staking wallet. Participant can optionally choose their favorite staking wallet and send their tokens to the wallet to lock the tokens.
Note: Staking wallets' balance will be published on XTRUMP website during staking period to ensure the transparency of the staking process.
3. After staking period, XTRUMP team will support token issuers to transfer staking and reward tokens to participant.
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