Explore the economic principles that drive our SmartDeFi ecosystem.
SigniFX holders can stake their tokens to provide liquidity to the ecosystem. In return, they earn rewards in proportion to their contribution. Holders are constantly exploring avenues to optimize their holdings and secure passive rewards, and the Staking Protocol presents an avenue to achieve precisely that. Staking involves a mechanism where holders can lock their SmartDeFi tokens and receive rewards based on the trading volume, particularly on decentralized exchanges like Uniswap or Fegex. Staking your tokens incurs no deposit or withdrawal fees, with users solely responsible for their gas fees. The flexibility of a no lock-in period enables you to stake and unstake at your convenience. Furthermore, the process of receiving staking rewards is automated and compounded, eliminating the necessity for users to manually claim and reinvest their earnings. The contract is designed to be upgradeable, ensuring a seamless experience for users during updates without requiring any action, such as unstaking or staking. Staking rewards are derived from on-chain trading activities of SigniFX; they auto-compound and are available to the user at any time.
After staking, your SD tokens will be deposited into the staking contract, and in return, you will get new tokens called SmartDeFi Stake Shares (SDSS). These shares represent your ownership in the staking pool. Think of SDSS as a receipt from the system to confirm you have staked successfully. You will need to show this receipt to the system for it to let you unstake and give back your SD tokens.
Optional Sacrifice Feature:
The introduction of the sacrifice feature in the updated Staking contract was in response to community requests from individuals looking to contribute to the burn initiative and reduce the circulating token supply. When unstaking, stakers have the option to burn a designated percentage of their staked tokens, effectively reducing their presence in the circulating supply. The chosen sacrifice percentage applies to the tokens being unstaked, whether they are rewards or the originally staked amount. To enable this feature, you must specify both the sacrifice percentage and the unstaking amount.
Please Note:
SigniFX will be utilizing the brilliant coding developed within the SmartDefi contract that will ensure longevity and a baseline price of SIGX Token that can only go up and never diminish. This will greatly benefit the token as we all know the cryptocurrency market can be volatile and we can now remain calm during marker fluctuations. SIGX will be pegged to FEG Token as the backed asset
The SigniFX contract, will allow you to take out an interest free loan against the baseline value of SIGX without having to sell or burn any tokens. The borrower then will have 30 days to repay the loan without interest. In the case that the loan cannot be repaid in the allotted 30 days the user may extend the lending period by burning 0.1% of their collateral. SmartLending allows you to tap into the foundational value of your SmartDeFi token without the need to sell it. This feature is particularly beneficial for unexpected life emergencies or seizing opportunities to invest in the launch of a new token without liquidating your assets. It grants you flexibility, enabling you to consider your baseline value as a secured asset. SmartLend operates without the need for oracles, as the price is directly derived from the baseline value retrieved from the smart contract. Additionally, since SmartLend doesn't rely on third-party involvement, it eliminates any potential for external manipulation or exploitation of the code.
Investing in cryptocurrency involves risks. Please read our disclaimer and terms of use before participating in the SigniFX ecosystem.
