BMillions FAQ
  • What is BMillions?
  • Getting Started
    • What are the eligibility requirements to participate in ₿Millions jackpots?
    • How do I purchase an NFT ticket, and what payment methods are accepted?
  • Types of Jackpots
    • What are the benefits of owning a Major Jackpot NFT?
    • What are Minor Jackpots, and how can I participate?
    • What are Mini Jackpots, and how can I participate?
    • What are Sponsored Jackpots, and how can I qualify for them?
    • What benefits do 'Holder Only' and 'Loyalty' jackpots offer?
  • Token Utilization and Benefits
    • What is the $BMIL token used for in the ₿Millions ecosystem?
    • How can I stake $BMIL tokens, and what are the benefits of staking?
  • Security and Fairness
    • What measures are in place to ensure the fairness of NFT ticket distributions?
    • What security measures are in place to protect players and their investments?
  • Voting and Jackpot Adjustments
    • What is the DAO Difficulty Reduction Protocol, and how does it affect players?
  • Jackpot Management
    • What happens if a jackpot is not claimed?
    • How are tokens distributed, and what does spending tokens mean for players?
    • How do aftermarket sales of NFT tickets contribute to the jackpot pools?
  • NFT Management
    • Can I sell or transfer my NFT ticket after purchase?
    • What happens to my Major Jackpot NFT after the jackpot is won?
  • Future Developments
    • What future developments are planned for ₿Millions?
  • Official Links
    • Official Links
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  1. Token Utilization and Benefits

How can I stake $BMIL tokens, and what are the benefits of staking?

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Last updated 1 year ago

Staking $BMIL tokens is an opportunity for token holders to earn rewards by locking up their tokens for some time. Here’s how you can engage in staking and the benefits it offers:

Availability of Staking:

  • Staking will be available approximately one month after the $BMIL tokens are listed on decentralised exchanges (DEX). This timeline allows early adopters to acquire and prepare their tokens for staking as soon as the functionality goes live.

Benefits of Staking $BMIL Tokens:

Earning Rewards

  • Reward Mechanism: By staking your tokens, you participate in earning rewards generated from the platform's operations. These rewards are usually distributed in the form of additional $BMIL tokens.

  • APY Calculation: The annual percentage yield (APY) for token rewards is calculated based on various pool variables, including the total amount staked, the length of time tokens are staked, and other economic factors. A fixed APY is often provided to give a stable return expectation to the community.

Financial Incentives

  • Passive Income: Staking provides a way to earn passive income through the rewards distributed. It’s an attractive option for those looking to increase their holdings without engaging in active trading.

  • Potential Price Appreciation: As more tokens are locked up in staking, the circulating supply diminishes, leading to price appreciation due to the reduced supply and increased demand, especially if the platform gains more users and utility.

Thus, staking $BMIL tokens offers financial benefits and the opportunity to support the governance and stability of the ₿Millions platform. This involvement enhances potential returns and aligns your interests with the ecosystem's long-term success.