Philcoin’s first-of-its-kind staking rewards – NOW LIVE!
Philcoin is a philanthropic blockchain movement. Philanthropy and giving back have been built into the very fabric of our company – from our business model, to our culture, technology and community rewards. Our staking mechanism is the latest feature that’s been created with our purpose in mind – to create wealth for all.
As mentioned in our previous blog , staking allows you to earn a fixed amount of interest by locking up your tokens for a period of time. Staking is similar to a traditional savings plan / fixed deposit.
Staking within PHILApp allows you to set aside a certain amount of PHL tokens for a specific period. On maturity, you receive the principal amount plus an annual percentage rate (APR) of 15%.
And here’s where it gets interesting – and what makes Philcoin’s staking the first of its kind in the world! You keep 50% of this APR and get to donate the remaining 50% to a charity of your choice within PHILApp. It’s a staking mechanism that rewards Philcoin’s entire global community.
Before we move on, take note: the APR is based on the number of tokens and not the USD value of the tokens.
Now let’s put the mechanism into numbers:
Let’s assume you decide to purchase $5,000 worth of Philcoin today and the current price is $0.10. You will get 50,000 Philcoin.
Purchase amount: $5000
Current value: $0.10
You get: 50,000 tokens
Now, you decide to stake those 50,000 tokens at a 15% APR. You’ll have 57,500 tokens!
You keep 53,750 of those tokens and have 3,750 tokens (50% of the APR) to give back to the community.
But that’s not all. Remember the original market value of $0.10? Let’s assume Philcoin hits $1 in a year (which is entirely possible and realistic). Your 57,500 tokens will have multiplied ten-fold to 575,000!
Initial token amount: (50,000 tokens * $10 = $500,000)
APR at 15%: 7,500 tokens * $10 = $75,000
You keep: $37,500
You donate: $37,500
Your net tokens: $537,500 ($500,000 + $37,500)
Staking mechanism on PHILApp
Staking has never been more rewarding – until now. Philcoin’s mission to change the way giving happens starts with you. You have the power to take back your financial sovereignty while empowering others to do the same. Are you ready to be part of our global philanthropic movement?