With the desire to increase the value of CLT, CoinLoan launches the staking program with cosmic rewards for CLT holders.
When you own at least 250 CoinLoan tokens, you get promotional interest rates for all assets in the Interest Account. The more coins you have, the higher your rates. If you hold 5,000 CLT, you will be eligible to earn 10% on USDT and 6.4% on BTC. That’s +2% to our basic offer.
What is staking?
According to the Binance academy, staking is the process of holding assets to support its operations. Essentially, it consists of locking cryptocurrencies to receive rewards. In our program, we ask CoinLoaners to keep CLT, helping to enhance the coin's value and offer up to 2% to all interest rates as a bonus.
What is CLT?
How does the offer work?
To boost your APY, sign up for CoinLoan and deposit CLT in your CoinLoan wallet. There is no minimal staking time needed to get bonus rates. Within a day after deposit, all interest rates in the Interest Account will increase by 0,1% with every 250 CLT you hold:
- 250 CLT raises your interest by 0.1%;
- 750 CLT — by 0.3%;
- 2,500 CLT — by 1%;
- 5,000 CLT — by 2%.
The maximum bonus is 2%, having more than 5,000 CLT won’t affect your interest rates anymore. In Figure 1 below, you can see the screenshot of the Interest Account page with a maximized interest rate. You can achieve this by holding 5,000 CLT.
Staked coins can’t be used for paying fees or getting a loan. However, you can instantly unstake them at any time and return your rates to basic values.
Where did 10.5% in the headline come from if the maximum APY is 10%?
The principle of compound interest is responsible for the extra 0.5 percent. It means that we add the interest you earn to the principal amount of deposit so that you can earn interest on reinvested interest. The longer you hold your asset on Interest Account, the more you get on the previously accumulated interest.
When stored for a year, for example, your deposit will turn into a more profitable one:
- 10% → 10.5% APY;
- 6.4% → 6.6% APY;
- 5.8% → 5.97% APY;
- 5.2% → 5.34% APY;
- 5% → 5.13% APY.
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