Stake your SOUR right now by holding a 300+ balance, in one address within any non-custodial SLP wallet (one that you hold the private keys to; not tipbots or exchanges) to earn low level staking rewards. Every 3 months, 10,000 SOUR is split between holders with a 300+ balance. Your rewards are based on your addresses balance (or stake). Daily staking rewards for SOUR holders will be launching on December 5th to supplement the low level rewards. To be eligible to participate, you must hold 1,000+ SOUR balance in one address, for 2+ weeks, or 2016 confirmations.
SOUR is a Simple Ledger Protocol (SLP) token that is built on the Bitcoin Cash (BCH) blockchain. SOUR is used by the community to show appreciation & reward those promoting Bitcoin Cash and adoption. The SOUR token is among the first to implement a system similar to Proof of Stake. SOUR offers BCH & SLP airdrops to holders, a merch shop to spend or earn SOUR, weekly poker tournaments where you can win, #Donate4SOUR initiative to earn SOUR by donating BCH to select orgs, and more development always in the works.
- Hold at least 300+ SOUR in one address, which you own the private keys for, in order to earn low level staking rewards every 3 months.
- Hold at least 1000+ SOUR for 2+ weeks, in one address, which you own the private keys for, in order to earn daily staking rewards beginning Dec 5th, 2020.
Coin age is determined by the number of confirmations your unspent transaction output (utxo), that is holding the tokens, has (the number of BCH blocks since the utxo was last moved).
Utxo is an unspent transaction output which holds your BCH and tokens. Utxo’s can hold any number of coins or tokens. For example, if you send yourself all your SOUR in one transaction then that uxto will contain all of it and will age over time with number of confirmations until it is moved again. Utxo’s can be split when sending so it is wise to stake your SOUR in a wallet that is separate from your SOUR spending, such as a paper wallet.
A paper wallet is just a wallet which stores your BCH or SLP tokens offline, with a single address and a single private key on a piece of paper. You can then sweep the assets through the QR code into the Badger or Zapit wallets or manually input your private key into any SLP wallet when you wish to send them.
If you’re storing your SOUR in a wallet which uses multiple addresses (new address for each deposit) then you may not be receiving staking or airdrop rewards. This is because each deposit, or change from a send, will go to a newly generated address. Your SOUR must be pooled into one address, above the minimum balance, to be eligible for airdrops or staking rewards (requires minimum coin age).
You can ensure this by using a wallet that only has one address, such as Badger or a paper wallet. You could also send the SOUR back to yourself within your wallet (and note that address for any future deposits), although this method can cause issues if you spend SOUR from the same wallet. Utxo’s can be split up when sending and the change sent back to yourself, resetting the number of confirmations (coin/token) age.
Paper wallets can be a great way to safely store your SOUR or other SLP tokens offline. It will ensure your SOUR will start staking, when holding above the balance and coin age minimums.
Daily Staking Rewards to launch 12/5/20
If you are holding at least 1,000+ SOUR in one address and have not moved the tokens for 2+ weeks, then you will start receiving daily staking rewards from Dec 5th, 2020 onward. During the first year, the system will distribute roughly 170K SOUR through daily staking rewards. The minimum balance increase schedule, emissions schedule and distribution breakdown across all services will be released soon. All SOUR paid out is currently being stored in a cold storage, hardware wallet (Satochip.io), with only the staking app having access. There is no need to deposit SOUR into any platforms in order to stake. Stake your SOUR from any non-custodial SLP/BCH wallet and spend it at anytime to stop staking.
Current Staking APR as of 11/26/2020 – 65.92088169%*
*Annual Percentage Rate. Meaning that 1,000 SOUR staked for 1 year, or 365 days, would earn roughly 659.2088169 SOUR back. The APR is subject to change daily, depending on total amount of SOUR being staked, number of eligible addresses and the current rewards schedule.
If the utxos that are staking your SOUR are moved, then the coin age is reset and starts again. Just as if you send your tokens to another address, confirmations for that new transaction will restart. Staking rewards are calculated by dividing each individual balance by the total balance being staked (this is an address’ stake, or share of coins vs everyone elses), then multiplying that by the total daily staking rewards for each eligible address. The more SOUR you stake, the longer you stake it, the more SOUR you will earn.
In order to receive daily staking rewards, a holder must:
1. Have at least 1,000+ SOUR balance in one address, which they hold the private keys to (seed words or WIF private key).
2. Have not moved their utxo holding the tokens in at least 2+ weeks or 2016 confirmations.
(2016 confirmations/blocks x 10 min per BCH block avg = 20160 minutes, or 2 weeks).
Statistics for Staking Rewards During Testing
Overall Staking Return on SOUR (ROS) for 1 year: 58.71% (At current calculations, staking 1K for one year will yield roughly 587 SOUR).
*this can change depending on the individual balances and total balance of SOUR being staked
Total Circulating Supply: 715,256.58546477 SOUR
Eligible Balances Total: 289,538.71648133 SOUR
Latest Blockheight used.
Daily Staking Rewards: 465.753425 SOUR
Weekly Staking Rewards: 3,260.273975 SOUR
Yearly Staking Rewards: 170,000.000125 SOUR
– Staking Rewards sent –
Total Percent Stake Weight: 100.00000000000001%
Total daily staking rewards being sent: 465.753425 SOUR
Total # of utxo’s to receive rewards: 61
Total # of addresses’s to receive rewards: 34
Test 1 Daily Staking Rewards – BCH Block 658,615
Test 2 Daily Staking Rewards – BCH Block 659,597
Test 3 Daily Staking Rewards – BCH Block 660,451
Plan going forward
There will be an emissions schedule, minimum balance increase schedule and distribution breakdown worked out. Failsafes will be added for the staking app (in case an API is down for example). The new staking system will output staking rewards on a daily basis (this may be moved to bi-daily or weekly in the future). The plan is to go live with the configurations above shortly after the November 15th BCH fork, while working to improve the staking system over time. The code will eventually be made open source for everyone to review and fork if they wish. SOUR in storage will be locked into smart contracts to release a specific amount per year to the staking system and other distribution methods.
Note: This application is experimental and dynamic. Things may break and we intend to change and improve as needed. There is no risk of losing your funds if you hold the keys to your wallet at all time. Right now it’s an application that calculates and pays out SLP rewards to eligible holders based on the listed specifications. We’d like to eventually move to a more decentralized approach, possibly with multiple nodes running software that is competing to pay the low BCH fees for the staking reward transactions. Those running the software would be rewarded additional SOUR for helping to secure the network and keep the staking rewards system running. We cannot guarantee staking rewards until the system is truly decentralized but we are planning to run the current system, which will pay out daily staking rewards (or compensate those for any missed rewards), as long as we are able to.