My experience staking $BBS

Jun 30, 2023

Hello everyone!

I want to tell you about my experience staking $BBS for the first time, since I had not done it before due to the ETH fees that have to be paid to approve the STAKING in the METAMASK wallet, which hurt a lot but well, I did the sacrifice speculating a little with the future of the project, to have participation in the DAO (which is not yet implemented but we must be close to it and I think it is very important to participate there for anyone who has been here for a long time and has plans to stay here for a long time), it has good performance and also I have been holding tokens for a long time and I prefer to have them there working than to have them stored in a wallet, in short ..

Well, first of all, let me clarify that I had almost all my tokens in an EOS wallet (Wombat), so to send them to Metamask it occurred to me to deposit it on a BBS board and then cash out to my BBS wallet and withdraw it from there. to Metamask, since it has to be on the ETH network and I had it on EOS... Sure, you could have used a bridge to do it, but I have no idea where you can do that with the $BBS token... If anyone knows, it will be more than welcome!

With that movement, I already lost several $BBS, and adding to the 340 used to withdraw to Metamask, I "lost" about 2470 $BBS.... Then, I had to pay fees to send ETH from an exchange to Metamask and that It cost me $9.3 dollars (in ETH).

So I already had the necessary BBS and ETH in Metamask, so I proceeded to do the staking, which cost me $17.83 dollars (in ETH), after refreshing the page several times and trying to "fish" for lower fees because it's variable and at one point it was $28 dollars... So it's important to try to pay as little as possible since you end up losing a lot in fees and then depending on the amount of $BBS you have to stake and the number of quarters you keep , perhaps you will not even get to recover the investment... So you have to write down everything that is costing you and analyze very coldly if the staking is going to be carried out or not.

In sum, according to my calculations and notes that I was making during the process, I spent about $51.92 dollars (approximately 5192 BBS at today's price) to be able to do the staking... I think it is a very strong bet for the project and it is because I trust and I like what is happening here.

If you want to follow the tutorial that I used, I leave it here below. The step by step is very clear, except that perhaps some steps are omitted and you may have to look in other posts if you are missing a step, as in my case I had my tokens in the EOS network and in this tutorial it did not say How to pass them to the ETH network.

The BBS staking contract 0xfe459828c90c0ba4bc8b42f5c5d44f316700b430 is designed to reward parties that lock their BBS tokens for prolonged periods, with more BBS tokens, in direct proportion to the user’s amount locked and the locking period and the amount of total locked stakes. This mechanism gives one the option to lock, extend earn rewards and eventually cash out fiat.Rewards, Quarters and SharesStaking rewards are distributed on a quarterly basis. Quarters are defined as consecutive periods of exactly 91 days, measured from the deployment of the contract.Once a stake is locked, the staker receives shares for every quarter of the locking period. The number of shares is defined as the number of tokens locked, with a boost of 25% on that amount for every extra quarter beyond the current one, with a limit of 13 quarters in total.A staker that locked X tokens from quarter 0 to quarter 13 will receive 4X shares for quarter 0, 3.75X shares for quarter 1, 3.5X for quarter 2, and so on until X shares for quarter 12.Once a quarter has passed, anyone who had BBS tokens locked in the contract during that period can withdraw an amount of the reward declared proportional to the total amount of shares allocated and the number of shares the specific stake was granted in that specific quarter.Currently, there are 130m BBS tokens sitting as reward in the contract, 10m tokens for each of the first 13 quarters.Partial Quarters and Restaking/ExtendingNote that a new stake that was locked during a specific quarter, and therefore was not locked for its entire duration, will receive shares proportional to the percentage of the quarter in which the funds were actually locked.However, when restaking your rewards back into the contract, your increase in shares is counted in full, just as if the rewards were locked at the start of the quarter. It is highly recommended that you take advantage of this benefit, and restake any rewards that you do not intend to withdraw and sell.No stake can be locked for more than 13 quarters, and the closer the unlock quarter the smaller the boost in shares the stake receives. It is, however, possible to extend the lock period of a locked stake at any point during the quarter, receiving the full boost in shares. It is, in fact, highly recommended that you extend your stake every quarter, to maximize your share of the rewards as well as your BBS DAO voting power.How to lock your BBSVisit: <a href=

bbs.marketBBS Token StakingThe BBS staking contract 0xfe459828c90c0ba4bc8b42f5c5d44f316700b430 is designed to reward parties that lock their BBS tokens for prolonged periods, with more BBS tokens, in direct proportion to the user’s amount locked and the locking period and the amount of total locked stakes. This mechanism gives one the option to lock, extend earn rewards and eventually cash out fiat.Rewards, Quarters and SharesStaking rewards are distributed on a quarterly basis. Quarters are defined as consecutive periods of exactly 91 days, measured from the deployment of the contract.Once a stake is locked, the staker receives shares for every quarter of the locking period. The number of shares is defined as the number of tokens locked, with a boost of 25% on that amount for every extra quarter beyond the current one, with a limit of 13 quarters in total.A staker that locked X tokens from quarter 0 to quarter 13 will receive 4X shares for quarter 0, 3.75X shares for quarter 1, 3.5X for quarter 2, and so on until X shares for quarter 12.Once a quarter has passed, anyone who had BBS tokens locked in the contract during that period can withdraw an amount of the reward declared proportional to the total amount of shares allocated and the number of shares the specific stake was granted in that specific quarter.Currently, there are 130m BBS tokens sitting as reward in the contract, 10m tokens for each of the first 13 quarters.Partial Quarters and Restaking/ExtendingNote that a new stake that was locked during a specific quarter, and therefore was not locked for its entire duration, will receive shares proportional to the percentage of the quarter in which the funds were actually locked.However, when restaking your rewards back into the contract, your increase in shares is counted in full, just as if the rewards were locked at the start of the quarter. It is highly recommended that you take advantage of this benefit, and restake any rewards that you do not intend to withdraw and sell.No stake can be locked for more than 13 quarters, and the closer the unlock quarter the smaller the boost in shares the stake receives. It is, however, possible to extend the lock period of a locked stake at any point during the quarter, receiving the full boost in shares. It is, in fact, highly recommended that you extend your stake every quarter, to maximize your share of the rewards as well as your BBS DAO voting power.How to lock your BBSVisit: <a href=

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