Financial solutions provider Safe Haven is preparing to launch a year-long staking program that is tailored to increase awareness of the platform and foster user loyalty.
Safe Haven is a platform that builds blockchain-based financial, asset management, and inheritance solutions. It also allows users the opportunity to secure their digital assets without locking themselves out, serving as a “safe haven” against crypto asset loss. To celebrate its third year, the firm is launching a year-long staking program on February 1.
According to the announcement, the “Great Safe Haven Staking” program will be a soft, fixed stake-based initiative that will always allow its native SHA token holders the decision to remove their tokens and as they see fit.
The Singapore-based firm has been releasing details of the various staking options token holders can expect.
#Staking pools open Feb 1st (6pm CET) and close Feb 3rd. Participants have 48hrs to #stake $SHA tokens within desired programs.
If the whitelisted wallet address falls below minimum balance requirements for staking, then “self-termination” occurs and all rewards are forfeited. pic.twitter.com/IE8qQcW1x3
— Safe Haven (SHA) (@SafeHavenio) January 26, 2021
Breaking Down the Staking
Each staking period will run for 90 days, with pools opening for 48 hours prior to the staking period or until they have been filled.
Users must maintain their staked amount for the 90 day period to receive rewards which will be transferred to wallets at the end of the period.
The yields are determined by node holder status, with the highest 5.5% APR going to Legacy Node holders while those without a node will get just 1.5%.
The entire system is powered and secured by a “masternode” program consisting of four tiers of “Safe Nodes” into which contributors and token holders can deposit SHA tokens for fixed returns over fixed periods. It uses the VechainThor mobile wallet to send and receive tokens to and from various nodes.
Safe Haven, which launched a digital inheritance program in September 2020, stated that it has already begun to and will continue to buy back a total of 45 million SHA directly from the market to fund the staking rewards distributed for this campaign.
SHA Price Update
At the time of publication, SHA token prices were unmoved on the day, trading at $0.002, or 6 satoshis, according to Coingecko.
Prices hit an all-time high of $0.007 on August 25, 2020, but have since retreated 70% since then. Monthly gains are around 9%, and SHA has made a whopping 500% since the same time last year.
There is currently a circulating supply of 4.7 billion SHA out of a total of 8.5 billion, and its market capitalization is $9.4 million.
This article was originally posted by Altcoin BuzzBack to news