Barakah Finance Solution – Staking
Barakah Finance Solution – Staking
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Barakah Finance Solution – Staking
Last updated
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The first Shari'ah compliant product of Barakah Finance will be the staking protocol v1.0 that will be launched during the inception of the project. This Barakah Finance 'Genesis' staking protocol will be based on an innovative hybrid smart contract which would provide a variable reward to the genesis staker based on the following conditions:
no rewards for any BRKH tokens staked for the period of 1 week (168 hours) if there is a growth of less than 50 Twitter users within the period specified (168 hours).
a proportional share of 1% of the reward pool for the period of 1 week (168 hours) if there is a growth of at least 50 Twitter users within the period specified (168 hours).
a proportional share of 2% of the reward pool for the period of 1 week (168 hours) if there is a growth of at least 250 Twitter users within the period specified (168 hours).
a proportional share of 3% of the reward pool for the period of 1 week (168 hours) if there is a growth of at least 500 Twitter users within the period specified (168 hours).
a proportional share of 4% of the reward pool for the period of 1 week (168 hours) if there is a growth of at least 1,000 Twitter users within the period specified (168 hours)
For users that stake for a minimum of 6 months, they will receive a limited edition NFT which would confer the holder special privileges on the network.
See workflow below for an outline of the Genesis Barakah Finance Shari'ah compliant staking hybrid smart contract. This workflow will repeat itself on a weekly basis (168 hours). Users can deposit and withdraw their tokens, however depositors will be subject to a 0.75% deposit fee, and withdrawing tokens will be subject to a fee if removed within a specified period (further details TBC).