Activity-tied Staking

As mentioned above in Staking in Game Modes under Gameplay, creating BBT-TR requires staking of $SNK. Understanding this mechanism is important.

First, as far as we know, it is a first. We’re tying together the staking of a cryptocurrency with a value-creating activity in the Snook DApp. Why is that interesting or good? Well, you can think of the amount staked by the owners of the BBT-TR as an Earnest Money deposit that can be redeemed at the will of the user (under the terms of the contract).

The BBT-TR requires SNK stake to be kept for the BBT-TR to be available. That means that the staking is not only a vote of confidence in the $SNK as a cryptocurrency at the time of the deposit. It is ongoing. As long as people like to play and are using the BBT-TR, they will not touch that deposit. In fact, every time they decide to keep it and not redeem it, they are doing so by comparing the value that they get out of the game with the potential profit they can realize by redeeming the stake and selling the $SNK. You are starting to see why this simple feature has so much potential?

Last updated