BLX token staking referrals
How it works...
Last updated
How it works...
Last updated
OptionBlitz offers clients to provide USDC liquidity and/or BLX tokens to the platform in exchange for a reward via . If a partner refers clients to the staking app, they can earn a reward based on new BLX tokens purchased and staked. Clients can stake BLX tokens on their own or provide USDC liquidity in conjunction with their BLX stake for an enhanced reward. The longer the tokens are locked, the higher the reward. OptionBlitz maintains a Uniswap pool on the Arbitrum network chain which is connected to the staking program. When a user visits and executes an operation to purchase and stake tokens, the conversion event is tracked by fuul and the partner can claim rewards.
When clients stake BLX in conjunction with USDC, they have a choice whether to stake or burn the BLX. Burning BLX increases their profit multiplier so less BLX tokens need to be purchased in order to get the same yield from staking. Burning BLX has the effect of permanently removing BLX tokens from circulation, thereby contributing to the deflationary economic mechanism designed to maintain the price. It is this reason why the highest reward is offered to partners whose clients burn BLX when staking. (Note that BLX can not be burned in the BLX vault, it can only be burned in the USDCxBLX vault)