Stake Mechanism
Staking LEGS for rewards
We have created a staking mechanism to both increase the value of LEGS token and distribute rewards to LEGS holders. Those who stake a certain amount of LEGS tokens will be rewarded with LEGS tokens accumulated in the Legs Pool
15% of income from Coinlegs Signals Market Place are accumulated within Legs Pool. In order to obtain the LEGS tokens accumulated in this pool, you need to stake a min. 10,000 LEGS tokens in this pool
- Firstly you should buy LEGS token on Uniswap or PancakeSwap (You need to have minimum 10,000 LEGS tokens for staking)
- Visit My Space page on coinlegs.com then open Coinlegs Wallet section. You’ll see deposit address there. When you send LEGS tokens from your wallet (ETH or BSC) to that deposit address, your LEGS tokens will be active in your Coinlegs Wallet for staking (You can withdraw your LEGS tokens from Coinlegs wallet whenever you want by contacting with us)
- After deposit process completed, open “LEGS Stake” section on this page
You need to have minimum 10,000 LEGS token to stake in Legs Pool. In this pool, 4 different staking durations have been determined. Two coefficients are used in calculating the rewards to be obtained at the end of the period. One of them is the duration based coefficient and the other is the coefficient determined according to the amount of staked LEGS
- Coefficient is 1.0 for 6 Months Staking
- Coefficient is 2.0 for 12 Months Staking
- Coefficient is 3.0 for 18 Months Staking
- Coefficient is 4.0 for 24 Months Staking
When you unstake the LEGS tokens, the reward rate is obtained by multiplying the coefficient from the duration with the total amount of LEGS you have staked. For example, if you stake 20,000 LEGS tokens for 12 months, your reward rate will be 2.0 x 20,000 = 40,000
When you unstake, the reward rates of all users who stake at the same time as you will be calculated then you will be rewarded with LEGS tokens according to the reward rate you have
- You stake 20,000 LEGS for 12 months and you have 40,000 reward rate at the end of the staking
- Let’s suppose that 100 people stake at the same time as you. The reward rate for each will be calculated using the same formula and the sum of all reward rates will be calculated(let’s suppose sum of the reward rates is 1,200,000)
- Assume that during the time you staked, a total of 50,000 LEGS tokens accumulated in the Legs Pool. Then the reward which you will get will be calculated like this;
50,000 x (40,000 / 1,200,000) = 1,666 LEGS
If you cancel staking before end of the period, Your LEGS tokens are transfered to your Coinlegs wallet but you cannot get reward
Last modified 10mo ago