Databroker announces DTX Staking Program
- By Valentina Ponomariova | October 05, 2021
Databroker today announces the DTX Staking Program. It allows DTX holders to receive rewards and generate passive income by staking DTX tokens.
The program connects over 3000 members of the Databroker DTX community to the Databroker gains and incentivises them to participate more actively in the Databroker project.
As DTX is the underlying medium of exchange for all transactions on databroker.global, stakers get rewards based on a percentage of the volume of deals between Data Buyers and Data Sellers on the platform. That means the more deals done on Databroker, the more rewards will be distributed to stakers.
Check out the most common questions about the DTX Staking Program.
How to stake and unstake?
In order to stake using the Databroker staking application, you first need to connect your favourite wallet. For now, we propose four different wallets, the most popular being MetaMask.
Once you open the web page, you will be asked to connect your wallet, and a pop-up will appear. Once this step is done, you can click Create stake, and a second pop-up appears (this first process is to make sure you agree to spend your DTX tokens). After a few seconds, a last pop-up will appear for you to create your stake.
To remove your stake, click Remove stake, then click on the pop-up that appears and the assets will be transferred to your wallet.
How to use MetaMask?
MetaMask is a software cryptocurrency wallet used to interact with the Ethereum blockchain and others such as Polygon. It allows stakeholders to access their blockchain wallet through a browser extension or mobile app, which can then be used to interact with different decentralised applications. You can find more information at: https://metamask.io/
How are the rewards deposited?
Every time a ‘deal’ is done on one of the data products on databroker.global, a percentage (called platform fee) will be sent to the staking program. This system works as an incentive to reward token holders, and also to spread the word about Databroker. The main incentive works as follows: the more the project is known, the more deals will be done, the more rewards will be distributed.
How does the share computation work?
The staking smart contract logic works as a stock option. When you stake tokens you receive shares. Once rewards are deposited, the price of your shares increases. When a stakeholder wants to withdraw their stake, they receive their initial stake plus their sharePrice * TotalRewards deposited. A full example is depicted on Databroker’s GitHub repository: https://github.com/databrokerglobal/DTX-staking
How to increase gas fee if the transaction is stuck?
During busy periods, the network can be congested. If the action you are attempting fails or takes too much time, you can increase the Gas Price or Gas Limit. Guidelines on how to do this can be found at: https://metamask.zendesk.com/hc/en-us/articles/360015488771-How-to-adjust-Gas-Price-and-Gas-Limit
If you can’t find what you’re looking for, send us your question directly at email@example.com.
Are you ready to start staking? You can discover more about the DTX Staking Program here.