Staking Bitshares To BEOS? More Tokens Being Airdropped
For those who are involved in the BEOS project, there was some news released today.
Those who staked Bitshares the past few months were rewarded with a "raindrop" of BEOS tokens. This is how 5/7 of the BEOS are being distributed. There is no ICO/IEO, thus, when the raindrop ends, all tokens will be distributed. The remaining 2/7 of the 3B+ total is being retained by the foundation (non-profit) that is going to use the funds for legal defense of developers (and others) targeted by the SEC.
The token distribution is soon coming to an end. There is incentive to keep the BTS stakes since there will be another 80 weeks (if memory serves me correctly) of RAM drop. Those who were receiving BEOS were also getting RAM throughout. This will continue.
There is an added incentive. According to @michaelx, those who keep their tokens staked will now receive BTSMD tokens. This is going to be dropped in addition to everything else. Personally, I think this is turning into a pretty good deal.
So what is BTSMD? It stands for Bitshares Media. It is another social media application that is being constructed using, in part, the Bitshares network.
There are a few interesting features that the team is proposing.
At this point, I am not sure what the distribution ratio will be nor how long the new drop will last.
How is all this possible?
Simply put, the BTS that is staked is able to qualify for the drop of BTSMD. Since it was in an offline wallet, @blocktrades moved it for the snapshot. Hence, all the staked BTS was (will be) rewarded with the other tokens. This is something that the BEOS team is now using as an incentive to stake the tokens for a longer period of time.
This is a really smart approach in my opinion. To start, it shows some character to turn the tokens over to those who staked with you. Often, exchanges and such just keep the tokens that are airdropped.
Also, staking is one of the best ways to "buy time". With new projects, it takes a while for development to take place. Token holders tend to be impatient especially when said tokens were airdropped. Many are in for the quick hit and will dump.
This adds another layer of incentive to help keep people in the fold. Essentially, to maintain much of the consistency as before, simply pay (or incentivize if you prefer) people to keep their tokens with you.
It is smart on the project team's end and also a good deal for the token stakers. This is how wealth is built. By putting one's tokens to work, one is already in a fine position with the BEOS payout. Add in RAM and now some BTSMD, and you see quite a haul for those Bitshare holders who decided to stake.
The BEOS team is working hard to create an abundant future for all those involved.
Thankfully, I count myself as one of them.
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