The Evolution Continues: Why Sports Fans Will Love Blocksport’s New BSPT Staking Pools Crypto Rewards Feature
Blocksport delivers again!
Step by step, we’re delivering on our promise to transform the future of sports by using blockchain technology to bring fans, clubs, and sponsors together in exciting new ways that benefit the whole sports community.
We launched NFT staking on the Blocksport platform in early March, and now we’re excited to introduce the opportunity to earn passive income with BSPT staking pool crypto rewards. Staking will be available for all BSPT tokens on Binance smartchain and all our holders of ETH ERC20 tokens can swop their tokens for BEP20 tokens to take part in staking at: https://app.multichain.org/#/pool.
Keep reading to find out everything you need to know about why sports fans and crypto enthusiasts should be stoked about BSPT staking, and how you can get in on the action.
BSPT Staking: What’s In it For You?
In the world of cryptocurrency, staking is well known as a way for long-term crypto token holders to put their assets to work and earn rewards instead of letting them sit idly in a crypto wallet. And that’s exactly what Blocksport token staking pools do for Blocksport community members, they allow you to earn rewards with the BSPT tokens you’re not using.
Let’s take a look at three ways BSPT staking pools benefit Blocksport community members:
- Earn Passive Income
The primary benefit of staking BSPT on our platform is that it’s an easy way to accrue extra income from your Blocksport crypto tokens.
We’ll get into the details of how it works later, but all you have to do is enter your BSPT tokens into one of our staking pool for a period of time you choose and earn BSPT token rewards on a daily basis.
What you do with your staking rewards is up to you. You can reinvest them in the staking pool, use them to buy fan tokens, purchase NFTs to play NFT staking games on Blocksport, or simply cash them out.
- Make Blocksport Better for All
In addition to helping individual users earn extra income, BSPT staking benefits the entire Blocksport community. How?
Blocksport is in it for the long haul, and we’re committed to providing long-term value to our community and token holders. Staking your tokens helps stimulate demand and increase the value of Blocksport tokens.
- Help Shape the Future of Sports
Last but not least, BSPT staking pools give you a say in the future of the Blocksport platform. When you stake your Blocksport tokens for more than three months, we’ll reward you with voting power to decide on the future of the platform and the future of sports. You’ll have direct input into decisions about things like fan engagement features, DeFi games, and additional community rewards.
How BSPT Staking Works: Basic Rules & Rewards You Need to Know
Now that we’ve covered why you should be excited about crypto token staking on Blocksport, let’s dive into how it works and how you can participate.
First Things First: Connect Your Crypto Wallet and Buy Some BSPT Tokens
The Longer You Stake, The More You Earn
Our crypto token staking pools reward token holders who stake for the long term. The minimum lockup period is three months, but your rewards increase significantly the longer you choose to stake.
BSPT distribution will be performed on a daily basis. So, in addition to the locking period, the number of your locked tokens will affect the size of your share.
You can easily estimate your potential rewards share before locking your own tokens on the platform.
Here’s the formula we use to calculate staking rewards:
SR ∝ α * the number of staked BSPT
- =0 if the lockup period < 3 months
- =1 if the lockup period is 3–6 months
- =2 if the lockup period is 6–12 months
- =3 if the lockup period is 12–24 months
- =4 if the lockup period >= 24 months
Claim Your Staking Rewards Any Time
BSPT reward tokens are allocated daily based on your staking rewards multiplier (calculated using the formula above) and your proportional share of the staking pool. You can claim your rewards anytime.
One quick caveat — minimum lockup periods are strictly enforced. For example, if you stake your Blocksport crypto tokens for three months, they will remain locked and unavailable for that period of time, even if you change your mind and decide to unlock your assets.
They’ll be returned to you at the end of the staking period, but you won’t be able to sell them or use them to buy NFTs or fan tokens while they remain locked.
Join a BSPT Staking Pool Today
We could say a lot more about our new BSPT staking pool crypto rewards feature, but the best way for you to learn the rest of the details is to visit our platform and join a staking pool today!