Claim a Stake in the Decentralized Revolution
BridgeCoin (BCO) is the cryptocurrency of the CryptoBridge exchange. This coin allows you to claim a literal stake in the success of CryptoBridge as a percentage of the revenue stream collected from trading fees go to you — a BridgeCoin holder. BridgeCoin is a highly unique speculative cryptoasset. We’ll demonstrate why by beginning with a look at its mining characteristics.
The CryptoBridge team chose to avoid an initial coin offering and self-fund the project’s launch through the mining and subsequent sale of BridgeCoin. Mining began on July 12th, 2017 and ended on December 1st, 2017. Mining was announced and launched in a way which encouraged equal opportunity for all who wished to participate. No coins were pre-mined. The interest and participation that miners and early speculators took in the project led to a successful funding outcome.
The Staking Reward
The business model of CryptoBridge extends benefits to BridgeCoin holders that other trading platforms do not. By investing in BridgeCoin, you are entitled to a share of the revenue it generates through the transaction fees from both buy and sell orders being filled. As more traders begin using CryptoBridge, the volume and size of these transactions increase. Its growth (in terms of traded volume) largely determines the revenue.
Revenue Share & Payout
CryptoBridge distributes staking payouts which are proportional to the size and length of the staking period. In its most basic form, this can be calculated using the following formula:
Personal stake size / Total staked coins * 50% of market taker fees collected = Your payout
To encourage stakers to choose a longer lockup period, however, a bonus weight is added to longer periods.
Duration & Weighted Staking Factor
1 Month (0% Bonus)
3 Months (20% Bonus)
6 Months (50% Bonus)
12 Months (100% Bonus)
Here’s an example of how the weighting factor is calculated:
Size of your personal stake (100) * Staking period (3-month; 20% Bonus) = Staking weight (120 BCO)
The additional bonus only increases the weight of your staking factor (meaning you will receive a larger payout). In the example above you are not rewarded 20 additional BCO at the time of withdrawal – there are still only 100 coins to be withdrawn once the staking position becomes mature.
As of November 2018, we have chosen to increase the weight of the staking bonus after the 1-year stakes reach maturity. Please read about it in much more detail in this blog.
Staking a cryptocurrency usually increases its supply, as rewards for proof-of-stake assets are distributed as newly minted coins. Participants in this consensus system often sell their staking rewards which creates downward pressure on price and the supply continues to grow, causing inflation. BridgeCoin, however, was never part of a proof-of-stake consensus mechanism. It was a mined through proof-of-work only. More information about that crucial difference is available here.
BridgeCoin distinguishes itself from these types of coins. Our payouts do not impact the total supply of BridgeCoin. BridgeCoin has a capped supply of 27 million coins — the full supply has already been mined. Once the mining phase ended, there was no further incentive for the blockchain to be mined, and so it has been deprecated as of January 1, 2019. Not all of the BridgeCoin were deposited to CryptoBridge in time, and so now the maximum supply has been reduced to 26,890,679.6820579 BCO.
Many BridgeCoin stakers choose to re-invest their BTC payouts by buying more BridgeCoin and creating new staking positions, which further decreases the circulating supply.
How to Begin
You do not need to have your wallet open to stake, once the position has been created the payouts arrive automatically. For a detailed explanation, read this tutorial. By staking, you are choosing to lock up your coins for a minimum period of 1, 3, 6 or 12 months making you a mid- to long-term investor in BridgeCoin. Coins cannot be withdrawn or sold before they reach the maturity date once they have been placed in a staking position. Once that position matures, you are free to withdraw your coins to sell… or otherwise do nothing. Your payouts continue even after the staking maturity date has been reached.
CryptoBridge is interested in receiving the benefit of the perspective of BridgeCoin holders. Ideas and feedback from this community of investors is continuously monitored. The long-term value proposition of BridgeCoin staking lies in the reciprocal benefit to the stakers and the project’s developers. Investors are strongly motivated to help the project succeed, and efforts to incorporate their desires are a target for ongoing improvement. Serious and well-reasoned community feedback is always welcomed by the team, and carefully taken into consideration.
BridgeCoin is a fairly mined cryptocurrency which funded the developer team’s initial launch of the CryptoBridge project. It is designed to compete with the many other thousands of projects by extending the reward of a significant percentage of its revenue with twice-monthly payouts in BTC, ETH and BCO itself. BridgeCoin boasts zero inflation and features a business model intended to thwart a loss in value. The longer a BridgeCoin investor chooses to stake, the higher the proportionate payout is.
BridgeCoin staking is a unique option for sharing in the revenue of CryptoBridge and includes the benefit of a committed community of long-term investors acting as a continual source of vested feedback for the team. This symbiotic arrangement allows CryptoBridge to improve its mission to revolutionize and decentralize how value is exchanged — together.