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Staking

Staking rewards are offered to the SMARTCREDIT holders. They are lending SMARTCREDIT via the staking FIF's, and they earn the rewards for this.
SmartCredit.io allocates weekly 4,327 SMARTCREDIT tokens to stakers via app.smartcredit.io. See the short video "How to earn with staking?" for the introduction.
How to earn with staking?
Key rules for staking are:
  • Staking is implemented via the SmartCredit.io fixed-income funds—every staker must create a special staking FIF.
  • The staker must deposit for at least 90 days to receive the rewards. The staker can increase his staking position at any time by depositing more SMARTCREDIT.
  • If he stakes for less than 90 days, then he will lose his staking rewards.
  • The staker can cancel staking at any time with the "Request Withdraw" transaction. This will start the "cool down", which takes 5 days. The user can withdraw any amount within 5 days after the cool-down start. The remaining tokens are still entitled to the staking rewards if they are deposited for at least 90 days.
  • Users can either claim rewards or use gasless re-staking to re-stake their staking rewards
  • Gasless re-staking allows to re-stake the staking rewards with 0 gas costs. Staking rewards are assigned every Sunday, 12:00 UTC. Stakers could re-stake their rewards every week after that.
  • Gasless re-staking is a unique feature. The alternative is to claim the rewards (requires gas) and to deposit the rewards (requires gas). Gasless re-staking allows the same, but without paying gas!
The rewards in the “My Rewards” section will be updated every Sunday, 12:00 UTC. "My Rewards" shows rewards only for the staking position, which are at least 7 days old.
The weekly staking rewards for the user can be different week by week—it depends on how many others are staking their tokens. The staking rewards will be shared pro week, pro rata, pro volume between all stakers:
  • If ca 50% of the holders will stake, then we calculate with the 40% staking APY
  • If ca 25% of the holders will stake, then we calculate with the 80% staking APY
Staking is implemented via the FIF's. While the regular FIF's have 4 buckets (0-10 days, 11-30 days, 31-90 days, 91-180 days), then staking FIF's have only one bucket (91-180 days). The staking FIF buckets are not shown on the screen - it's only one bucket.
Borrowers could even borrow from the staking FIF's, and the stakers would then earn extra yield on their staking FIF.
Additional info:
Videos: