Press release. The blockchain-based P2E fantasy sports game TradeStars announced the launch of the pledge of its native token TSX. Users can now stake their TSX tokens and get more TSX tokens as rewards.
TradeStars and TSX
TradeStars is a P2E fantasy sports game built on Ethereum, where users can trade fantasy stocks, and its value is directly affected by the real performance of athletes. Sports enthusiasts can use their sports knowledge to buy Fantasy Stock of players with the potential to become tomorrow’s stars, and get huge returns from their investment.
Fantasy stocks are implemented as partial non-fungible tokens (F-NFT), and TSX is used as a medium of exchange for transactions with smart contracts. TSX is an ERC-20 token used as an in-game currency (utility token).
Users can also participate in DFS (Daily Fantasy Sports) competitions on TradeStars and win TSX as a reward.
Toronto Stock Exchange Utilities
As a utility token, TSX promotes TradeStars’ in-game economy. TSX is also a governance token, allowing holders to participate in decentralized voting rounds to finalize various issues related to platform governance and decisions on future development directions.
In addition, TSX also gives holders a series of other benefits, such as earning part of the fees generated by the platform, and first obtaining a special edition NFT cast on the platform.
TSX is currently listed on leading cryptocurrency exchanges such as MEXC, Uniswap and PancakeSwap.
With the launch of the TSX staking, another item has been added to the list of utilities for TSX tokens.
The total supply of TSX is 100 million, of which 22% (22 million) of tokens have been reserved as collateral rewards. These rewards will be distributed at an annual issuance rate of 4.4% for a total of 5 years.
The pledge reward of TSX is calculated every second. In the future, community members who wish to participate in the ecological governance of TradeStars will request TSX pledge.
How to stake TSX
TradeStars created a Pledge dashboard Users can easily staking/unstake TSX through it and get their staking rewards. Dashboard also displays various statistics related to TSX pledge, including total TSX pledge, APR, TSX price, daily TSX rewards and TSX circulation supply.
Users must first connect their Metamask wallet or any mobile wallet of their choice (via Wallet Connect) to the dashboard. After that, you can use the “STAKE” and “UNSTAKE” buttons to mortgage or redeem TSX.
In order to qualify for the reward, there is no standard for the minimum lock-up period or the minimum amount of TSX that needs to be collateralized. The mortgage reward is calculated every second and can be claimed using the “claim” button.
The purpose of TSX Staking
The TSX mortgage is an important milestone in TradeStars’ goal, which is to allow the community to participate in the decision-making process with greater capacity.
TradeStars hopes to grow into a truly decentralized community governance P2E game. In order to ensure that only users who are truly interested in the development of the platform can participate in the governance process, they must first pledge TSX tokens.
Staking-based rewards programs are also a means of rewarding community members who show that they believe in TradeStars by locking TSX tokens.
For more information about TSX collateral, please refer to – https://tradestars.gitbook.io/tsx-staking
Visit the Staking dashboard to stake your TSX – https://tradestars.app/stake
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