In the second episode of the SmartCash series we are looking closer at the SmartRewards, the price stabilization mechanism and passive income feature. For a more broader overview over SmartCash please watch the first episode of the SmartBee.
Welcome to SmartCash, a young blockchain technology that offers great features. In this video we have a closer look at one of them: the SmartRewards!
SmartCash comes with an integrated price stabilization mechanism called SmartRewards that encourages long term holding. Here is how it works:
On the 25th of each month a snapshot is taken from all addresses. If it contains at least 1000 SmartCash before the snapshot and does no withdrawals until the next snapshot – then it becomes eligible to receive SmartRewards which are paid to each address automatically on the 25th. You can always move your SMART out but if you do your address becomes ineligible for the next SmartRewards. However, you can add more SmartCash without risking your SmartRewards but must wait until the next snapshot to make the added sum eligible as well.
The SmartRewards are coming out of the 15% block reward allocation while another 5% goes to miners, 10% to SmartNodes and 70% to the SmartHive Project Treasury. All addresses eligible for SmartRewards are sharing the available pool with other. That means the more people hold on to their SmartCash the less will be paid out per month. You can always find the SmartRewards calculator on the Smartcash website to get the current estimated monthly reward percentage.
There are several ways to earn with SmartCash. Stay tuned for the next video where you learn more about SmartNodes. And I BEE you next time!
For more information about SmartCash please see the following links: