Everything you need to know about staking SUPERBID.
You can Stake your SUPERBID tokens on the panel.superbid.io website!
Before you Stake make sure to check out the Staking Rewards Asset Profile Page for SuperBid to help bet a better understanding of this choice.
Get ready to enjoy up to a 400% APY reward rate annually based off current parameters! Make sure to stay up to date with all current SuperBid promotions as this rate can fluctuate.
What is SUPERBID Staking?
You can buy SUPERBID on Uniswap or on WhiteBIT.
After you have some SUPERBID you can Stake it in the SuperBid Panel to earn more rewards.
SUPERBID is an ERC20 token and the staking function is done off-chain based on deposits into the SuperBid Panel.
There is a current Base Staking APY of 200% and a bonus Staking APY for Uniswap Liquidity Providers of an additional 200%, meaning you can earn up to 400% APY.
All rewarded tokens will be subject to a withdrawal penalty for a period of 90 days. If you withdraw on the first day of staking, then you will only receive 10% of your reward. The remainder will be permanently forfeited. Every day, the % of reward which you’re able to withdraw will increase by 1% from the time of staking. After 90 days, and at any later date, you will be able to withdraw 100% of your reward tokens at zero penalty.
Any decrease in a wallet’s SUPERBID token balance will reset the withdrawal penalty schedule, and will then again be subject to the standard 90 day countdown of withdrawal penalty. This means that a staker is required to wait longer to sell tokens in order to receive rewards with no penalty.
There is currently no smart contract associated with staking SUPERBID.
Prerequisites
For starters, you need to own some SUPERBID. You can either buy these these from Uniswap or WhiteBIT.
Next you should make sure to download and become familiar with the MetaMask Browser Extension.
Lastly you’ll want to make sure you have a some ETH in your wallet to cover transaction gas costs.
How to Stake SUPERBID
Step 1
First, go to the website: panel.superbid.io and click on the button that says “Connect Wallet” in the top right. You will be directed to connect your wallet, in our example we use Metamask.
Step 2
Now that your wallet is connect you should see you wallet address being reflected in the dashboard and you can click the button “Activate Staking“.
Step 3
When you click “Activate Staking” your metamask will prompt you for a signature request associated with your wallet address. You can click “sign“. This will not require any ETH for gas.
Step 4
Congratulations, you have now enabled Staking and can see the status updated on the dashboard!
Be careful when moving SuperBid out of the wallet as it will reset your early withdrawal penalty countdown timer as explained above.
Just sit back and enjoy the rewards, keep track of everything right from the dashboard.
Conclusion
Staking SUPERBID is extremely easy and the process is smooth enough for the mainstream user to catch on. One of the best parts of Staking SUPERBID is that there is no ETH gas costs associated with the sign transaction that enables staking. Some drawbacks are that there is no smart contracts handling the reward distribution as everything is done off-chain. There are also pesky early withdrawal penalties that may cause some users to think twice before moving their SUPERBID. The team has designed the dashboard and staking incentives to benefit the longterm stakers which can be a good thing for the community, avoiding dumps when lockup periods end. Keep up to date with the SuperBid promotions as APY is subject to change, follow along in the Staking Rewards SuperBid Calculator page to estimate your staking rewards!