StakeIt (STAKE)
A brief guide to the project, token, team, and community.
The Project
StakeIt (STAKE) is a community-driven project founded by Bitcointalk forum community members. The project has been established in November, 2017. The idea behind this project was to create a sustainable staking token which works similar to lending platforms but instead of creating 'profits' out of thin air and lies, StakeIt provides rewards as tokens (STAKE). All rewards (StakeIt tokens) are currently reserved under 5 different addresses and they are all trackable through the Ethereum Blockchain.
It is a centralized Proof of Stake (PoS) token built on the Ethereum Blockchain whereby token holders can stake their tokens by depositing it under their StakeIt website accounts.
StakeIt Platform
The platform consists of 5 main features.
- Staking Web Wallet: users can stake their tokens on a daily basis by depositing STAKE tokens under their website accounts.
- Bounty & Giveaway (ADs) Platform: StakeIt regularly hosts bounty & giveaway campaigns here to attract new visitors. It also features advertisement spaces which can only be purchased with STAKE.
- Games: features a smart contract based decentralized dice game & web-based scratch cards where users can double and triple their STAKE tokens.
- Merchandise Store: cryptocurrency related fashion products & accessories are sold here. They can be purchased with BTC, ETH, BCH, as well as STAKE. Those who use STAKE to purchase items are provided significant discounts thanks to lowered exchange rates (to encourage the use of STAKE tokens).
- Affiliates System: users can earn ETH by promoting their referral links and gain 10% lifetime commissions on all sales they refer to (includes merchandise store products & staking plans).
The Token
Name: StakeIt
Ticker: STAKE
Type: ERC20
Decimals: 8
Contract address: 0xbec8f6d667594fb181c9d68e5c80c910888be93d
Blockchain Explorer: https://etherscan.io/token/0xbec8f6d667594fb181c9d68e5c80c910888be93d
Exchanges: Mercatox, EtherDelta, Lesfex (to be listed soon)
Links: Website - Twitter - Telegram - Instagram - Bitcointalk ANN Thread - Blog
Staking Plans
Users can stake StakeIt tokens by registering on the website and depositing STAKE under their accounts.
The staking process is automatic with rewards paid out every day @ 01:00am UTC.
No fees are charged when users deposit STAKE. However, 2% withdrawal fees apply. This helps the project sustain a healthy balance between supply X demand on the market.
There are 4 types of staking plans:
Default (0.035%/day)
Basic (0.04%/day),
Premium (0.055%/day),
VIP (0.07%/day).
The default staking plan (0.035%/day) is a free plan whereas others are not. The prices of other plans increase according to the 'TIERS' of staking plans.
As we have mentioned, all staking rewards are distributed from our 'STAKE RESERVES' where we have reserved 75% of our token's total supply under 5 different addresses. These 5 addresses represent different staking 'TIERS'. As soon as all tokens are distributed from the first address (the 1st tier), the next tier is activated and the prices for paid staking plans will increase. For details, please refer to the WHITEPAPER available in 15+ languages.
TEAM
We are 6 different Bitcointalk community members with various backgrounds within the cryptocurrency & blockchain industry. Some of us have worked with and are currently working with renowned projects within the Ethereum ecosystem. We have decided not to reveal ourselves due to the nature of the project being classified as a 'security' with dividend payments for affiliates & token holders. However, remaining anonymous does not mean we aren't actively communicating. Feel free to reach us directly through Telegram or simply email us! support@stake-it.com.
Plans & The Future
StakeIt (STAKE) has evolved into a comprehensive project which isn't just about 'staking'. We are constantly in search for new innovative ideas and this has led us to various implementations such as the smart contract based dice game & the integration with a WordPress payment plugin (MyCryptoCheckout).
As such, we believe that we have only explored 1% of our journey. Below is a snapshot of our ever-evolving roadmap & progress section available on our website's ABOUT page.
We want to keep the project as fun as possible where the community has the ultimate power to drive the project. 90% of our roadmap & plans were ideas provided by the community members. If YOU have a great idea on how StakeIt (STAKE) should be utilized or on how we should further develop the platform, feel free to drop us a message.
Details You Should Not Miss
This is a brief guide to StakeIt (STAKE) and there are many details not mentioned here in this guide. Please refer to our WHITEPAPER to better understand the project.
Some of you may be concerned that we are similar to lending programs and that all lending programs are bound to collapse. We understand where your concerns are coming from especially with the recent collapse of BitConnect. However, we would like to assure you that we are not an HYIP or a lending program.
Please refer to this blog post to learn more on why StakeIt is NOT an HYIP or a ponzi scheme: https://steemit.com/stakeit/@stakeit/guide-to-stakeit-why-it-is-not-an-hyip
QUESTIONS? DOUBTS? Feel free to drop us a message on Telegram!