PRESS RELEASE. The launch of staking their native token TSX by blockchain-based P2E Fantasy Sports Game TradeStars is announced. You will be able now to stake your TSX tokens, and receive more TSX tokens in rewards.
TradeStars, a P2E Fantasy Sports Game built on Ethereum allows users to trade Fantasy Stocks that are directly affected by real-life performance of athletes. You can leverage your sporting expertise to invest in Fantasy Stocks from players with the potential to be stars of the future.
Fantasy Stocks can be used as Fractional Non Fungible Tokens, or F-NFTs. They are exchangeable against smart contracts that use TSX for the means of exchange. ERC-20 token TSX serves as an in-game currency.
TradeStars also offers DFS (Daily Fantasy Sports), where users have the opportunity to win TSX.
TSX, the utility token drives TradeStars’ in-game economy. TSX can also be used as the governance token and allows users to vote in decentralized rounds. This will allow them to make decisions about various aspects of the platform’s governance and future growth.
Besides this, TSX holders can enjoy a number of additional benefits like a share the platform fees generated and the first access special edition NFTs minted by the platform.
Currently, TSX is listed on major cryptocurrency exchanges like MEXC and Uniswap.
With the launch of TSX staking, another item has been added to TSX token’s list of utilities.
The total supply for TSXX has 100 million tokens. 22 million (22%) of these tokens are reserved to pay staking rewards. The rewards will be available at a 4.4% annual rate for a maximum of 5 years.
TSX staking reward rewards are calculated every minute. In the future, TSX must be staked in order to allow community members to take part in the Governance of TradeStars.
How to stake TSX
TradeStars created a Staking Dashboard that allows users to stake/unstake TSX, and receive their staking rewards. This Dashboard displays statistics regarding the staking process of TSX. These include the amount of staked, APR and daily rewards.
To connect your Metamask or mobile wallet to the Dashboard, first make sure you have Wallet Connect enabled. Thereafter, TSX can be staked or redeemed using the “STAKE” and “UNSTAKE” buttons.
In order to receive rewards there is no minimum lockup period nor minimum amount of the TSX required to stake. Staking rewards are calculated every second, and can be claimed using the “CLAIM” button.
The Purpose and Scope of TSX Stocktaking
TSX staking is a major milestone in TradeStars’ goal of involving the community in the decision-making process in a much larger capacity.
TradeStars aspires to become a decentralized, community-governed P2E platform. They must stake their TSX tokens to be able to participate in the governance process. This is to make sure that the platform’s development can only be done by those who truly care.
Staking-based rewards are also a way to reward community members for their belief in TradeStars. This is done by locking up their TSX tokens.
For more information about TSX staking, 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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