StakeIt Token (STAKE) is a community-driven investment token providing centralized staking options for token holders. Users can stake their tokens on a daily basis and withdraw their tokens at any time they wish to from the platform. Additionally, StakeIt features a 1-page AD platform where advertisers use StakeIt tokens to publish their ADs.
The generated revenue from the platform is fully used to buy tokens on the exchange and this is probably the most interesting factor about the Stake-it project.
These purchased tokens, as well as all tokens are accepted as deposits and all tokens received from the 1 page AD platform are permanently destroyed. Token holders can bet their token on a daily basis with three (3) different plan that are ‘regular staker’, ‘premium staker’, and ‘VIP staker’. Users can also obtain through a comprehensive affiliate platform system that benefits the user with Stake-it (STAKE).
Stake-It Platform
Features:
• Staking Web Wallet: users can stake their tokens on a daily basis by depositing STAKE tokens under their website accounts.
• Bounty & Giveaway (ADs) Platform: StakeIt regularly hosts bounty & giveaway campaigns here to attract new visitors. It also features advertisement spaces which can only be purchased with STAKE.
• Games: features a smart contract based decentralized dice game & web-based scratch cards where users can double and triple their STAKE tokens.
• Merchandise Store: cryptocurrency related fashion products & accessories are sold here. They can be purchased with BTC, ETH, BCH, as well as STAKE.
Those who use STAKE to purchase items are provided significant discounts thanks to lowered exchange rates (to encourage the use of STAKE tokens).
• Affiliates System: users can earn ETH by promoting their referral links and gain 10% lifetime commissions on all sales they refer to (includes merchandise store products & staking plans).
Smart Contract Based Games:
• Decentralized.
• Automatic Payouts.
• Fair Results Generated By The Smart(ORACLIZE).
• Simple Dice, Lottery, Wheel Of Fortune + Many More.
• Requires MetaMask Main Features.
Decentralized Staking:
• Minimum Coinage: 1 Day
• Maximum Coinage: 90 Days
• Decentralized (SMART CONTRACT BASED)
• Accurate & Automatic Reward Calculations.
• Ability To Claim Staking Rewards Daily.
• Stake Tokens Directly On ETH WALLETS.
Merchandise Store:
• 1000S Of Cryptocurrency Related Products.
• Ability To Pay With Stake.
• Affiliates System.
• Revenues Used To Buy & Fund The Staking Smart Contract.
How It Works
StakeIt depends on keen contract innovation with different wagering choices subsequently requires MetaMask ethereum stage StakeIt is here to enable clients to augment benefit on their stakes, to open a record today on the task’s legitimate site on STAKES. The undertaking will likewise highlight accumulated dividends staking and go about as a 100% crypto stock store. The token is exchanging effectively on MERCATOX: https://mercatox.com/exchange/STAKE/BTC and different trades, for example, forkdelta, cryptopia, etc.
Benefits
• AD Platform
Bounty & giveaways are held on the AD platform to attract traffic and advertisers. Advertisers can purchase ad spaces with STAKE. All tokens received from here are destroyed.
• Transparency
StakeIt's smart contracts are verified on the Ethereum Blockchain with all transactions publicly traceable.
• Decentralized Staking
Stake your tokens directly on any ERC20 compatible ETH wallets. Hold it for a minimum of 1 day - maximum of 90 days.
• No Lock-in Contracts
Receive staking rewards at any time of the day by simply sending any amounts of STAKE to/from the same address holding STAKE.
• Secure And Automatic
We take advantage of the Ethereum network to better secure & automatize the staking process.
• Play Games And Earns
Earn STAKE by playing decentralized & smart contract based games guaranteeing maximum fairness and transparency!
• Affiliates System
Earn 10% commissions for referring sales (lifetime commissions). Design your own products & sell them through the store!
• Community Driven
StakeIt Token (STAKE) is a community-driven project. Your suggestions and feedback will be heard and implemented as the project matures. Join the discussions on our Telegram Group!
Token
StakeIt Token (STAKE) is an ERC20-compatible (Ethereum-based) token with a total supply of 100 million tokens. It has been created to provide long-term profits for its token holders with its innovative centralized staking options.
• NAME: STAKEIT
• SYMBOL: STAKE
• DECIMALS: 8
• TYPE: ERC20
• TOKEN BLOCKCHAIN: ETHEREUM
• BLOCKCHAIN: ETHEREUM CONTRACT ADDRESS: 0X7D266ED871F24D7B47B5A8B80ABB391178C48BAC
• EXCHANGES: MERCATOX (BTC), LESFEX (BTC), TOKEN.STORE (TO BE ADDED SOON) MAX TOTAL SUPPLY: 100,000,000 STAKE (100 MILLION) INITIAL SUPPLY: 5,000,000 STAKE (5 MILLION)
Token Distribution
• Initial Supply = 5,000,000
• Stake Staking = 95,000,000 STAKE
*NOTE THAT STAKING REWARDS ARE NOT INITIALLY MINTED. IT IS ESTIMATED THAT IT WILL TAKE ABOUT 10 YEARS FOR ALL STAKING REWARDS TO BE DISTRIBUTED/MINTED.
Initial Supply Distribution:
• Approx. 3 Million Distributed As ‘TOKEN SWAP’ For Users Holding Old Stake Token.
• 500,000 Bounty Tokens (Bitcointalk Campaign).
• Approx. 1.5 Million Used As Intial Bankroll For Smart Contract Based Games.
• Staking rewards are automatically distributed on the ethereum network. These are ‘NEW’ tokens being minted. You can think of it as a mining process for a typical coin.
• On May 23, 2018, Stake-it had to abandon their old token contract due to a breach on their smart contracts. Therefore, Stake-It had to perform a ‘SWAP’ for users.
• Bounty tokens will be distributed on June 1, 2018.
• Stake-It smart contract based games provide a betting platform for stake token users. Initial bankroll simply refers to the ‘INITIAL FUNDING’ for games.
*Staking reserves were not pre-distributed/allocated. It can only be retrieved as a user claims his/her staking rewards. Expected period of complete distribution: 8-10 years.
Smart Contract Based Games:
• Initial Bbankroll = Bounty (LOCKED-IN)
• Smart Contract Based Games Earn Revenues (STAKE TOKENS) When Users Lose Their Bets.
• The Chart On The Left Illustrates How These Revenues Will Be Used/Allocated.
• 80% Locked In The Relevant Smart Contract (TO INCREASE MAX BET AMOUNTS FOR USERS).
• 20% Used To Fund Future Bounty Campaigns (GIVEAWAYS & GAME DEV COMPETITIONS).
Roadmap
STAKE-IT. MAKE-IT. INNOVATE-IT.
JUNE 2017
IDEA DEVELOPMENT
Community-members on the Bitcointalk forum gathered to discuss about ERC20 tokens and smart contracts. It started as a simple community to share ideas, collaborate, deploy, and test smart contracts. The community started to form a unique identity of its own with members consisting of solidity developers, ICO investors, and various cryptocurrency and blockchain project marketing gurus. At this point of time, there were no Proof-of-Stake ERC20 tokens deployed on the Ethereum blockchain. After various market tests, 4 members of the community gather to form a team and the rest is history.
OCTOBER 2017
ALPHA VERSION LAUNCH
To secure enough funds for the project, an alpha version was launched, featuring a pre-token sale. Over 500,000 tokens were sold within a period of 14 days.
NOVEMBER 2017
BETA VERSION LAUNCH
Final deployment of the token contract & public token sale begins. Over a period of a month, 2 million+ tokens are sold to the public. The token sale ends successfully as with the no soft cap/hard cap policy.
DECEMBER 2017
ECOSYSTEM DEVELOPMENT STAGE
Online arcade, centralized staking, scratch card games, web-based bounty platform, ad platform, and various gaming smart contracts are deployed, tested, improved, and dismissed.
FEBRUARY 2018
ECOSYSTEM ESTABLISHMENT PHASE
Complete shift from a centralized system to decentralized platform running on smart contracts. Main features of STAKE is identified - Smart Contract Based Staking, Smart Contract Based Games, Merchandise Store.
MAY 2018
FOUNDATION RE-BUILDING PHASE
Due to a breach on the staking smart contract which contained 70 million+ tokens, the old STAKE contract is abandoned. New token contract is developed under better security standards and true Proof-of-Stake feature readily implemented. Whitepaper is modified to reflect the changes. Token swap is provided towards all users who had balances before the incident.
Merchandise store launches with just over 50 products. Various market tests to be continuously conducted to optimize products according to the trends of the market.
Dice game is paused due to the smart contract breach. New smart contract based games to be developed under better security standards.
2018+
FUTURE PLANS
Full list of future plans are available on the whitepaper .
Just to summarize some of what's to come in the near future:
• Interactive Dice Betting Game
• Lottery
• Wheel-of-Fortune Game
• Desktop Wallet (STAKE app)
• Mobile Wallets (STAKE app)
• Voucher System (Buy other coins instantly with STAKE)
• Advertisement Platform (Buy & Sell AD spaces with STAKE)
• User Marketplace
• DYO (Design-Your-Own) Product Platform
• SAAP: Partnerships with popular WordPress based online stores
• SAAP: STAKE Debit Cards
• Mobile Games
For More Informations:
Website: https://www.stake-it.com/
Whitepaper: https://github.com/StakeItToken/StakeIt
Ann Thread: https://bitcointalk.org/index.php?topic=2401104.0
Telegram: https://t.me/joinchat/Gvr3rxIrX8POvWSU0CIcig
Twitter: https://twitter.com/StakeIt_Token
Authored By: Richard Ayebaesin
Bitcointalk Username: ayeba
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=1642756
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