Bounty Hunter BNTY Staking Announcement

We will launch Bounty Hunter BNTY staking on December 7, 2018. Learn more in this article.

While the general market sentiment of the cryptocurrency space is still rather bleak, the Bounty0x Team has been working hard to get closer to our vision of a world where everyone can easily earn crypto.

Since the recent bear market began in January 2018, Bounty0x has grown from 3,000 registered users to over 45,000. Bounty0x has also reached a point where at any time, there are hundreds of active bounties on the platform and each one receives thousands of submissions.

A brief outline of this announcement:

What is Bounty Hunter BNTY staking

An example of the value of Bounty Hunter staking

How Bounty Hunter BNTY staking works

Fee reduction tiers and stake requirements

Launch date

What is Bounty Hunter BNTY Staking

Bounty0x currently charges a 15% platform fee every time a reward is sent to a Bounty Hunter. We charge fees in order to support the development of the Bounty0x platform and to cover operational costs.

Bounty Hunter staking will enable Bounty Hunters to stake BNTY in order to reduce platform fees.

Bounty Hunters will be able to reduce platform fees to 12%, 9%, and 5%, by staking BNTY. In contrast, freelancing platforms like UpWork charge up to a 20% fee.

Wild West Hunter: Staking 10,000 BNTY reduces fees to just 12%

Staking 10,000 BNTY reduces fees to just 12% Anarchy Hunter: Staking 20,000 BNTY reduces fees to just 9%

Staking 20,000 BNTY reduces fees to just 9% Intergalactic Hunter: Staking 40,000 BNTY reduces fees to just 5%

This functionality is especially useful for very active Bounty Hunters, see below for an example.

An example of the value of Bounty Hunter staking

A Bounty Hunter earns $2,500 in bounties per month. At a 15% fee, this means that he would be missing out on $375 in profits every month since they go away in platform fees.

This same Bounty Hunter can now stake 40,000 BNTY, valued at approximately $160 at the time of writing, reducing his fees to just 5% .

. That means that after staking 40,000 BNTY, this hunter will now be making $250 more per month.

per month. In essence, BNTY staking is extremely attractive for active Bounty Hunters.

How Bounty Hunter BNTY staking works

When a Hunter stakes BNTY to reduce fees, it will be locked for 1 month. After the lock-up period ends, Hunters will be able to freely withdraw their BNTY.

Hunters can increase their stake at any given time, even when the current balance is currently locked up. Updated fee reduction will kick in as soon as the stake has been increased.

When a hunter increases his stake, the lock-up period of the entire stake resets and will be locked up for 1 month again.

Other successful companies in the space, like Binance with the BNB token, have already implemented this model and it has worked wonderfully, which is why we are very excited about launching this functionality.

Launch date

Bounty Hunter BNTY Staking will launch on December 7, 2018. As soon as the feature is rolled out, every single one of our 45,000+ signed-up Bounty Hunters will be able to stake BNTY in order to reduce platform fees.

For more information about Bounty0x

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