Solaris Savings is turning into Reward Savings!We are happy to announce that on December 1st, 2020, we will be making major changes to the reward structure of our products.
Currently available Solaris Savings and Solaris Reward Program will combine to create Reward Savings, an easy to participate savings program, available directly through Txbit exchange, with the combined benefits of both programs!
Not only will you gain interest on your locked Solaris, you will also receive a share of the Trading Fees generated on Txbit exchange.
Updated Savings and Rewards structureReward Savings utilizes the enterprise infrastructure of Txbit, and the safety of Cold Staking,so you can feel at ease knowing that your funds are not only safe, but growing each day! No need to run your own wallet or stake XLR, just participate in Savings!
As with Solaris Savings, you will be able to lock your Solaris coins in Txbit for a set period of 6 or 12 months and receive guaranteed XLR returns at the end of the lock period.
The saving plans are:
6 months — 5% Interest
12 months — 17% Interest
Additionally you will receive a share of the Trading Fees generated on Txbit, on a monthly basis! Txbit will reward 50% of all earned trading fees to participating savings users. There will be no more deductions of Operating Costs. No matter the trading fees earned, 50% of them will go to the Reward Savings Pool. For example, Txbit earns $1,000 in Trading Fees. 50% goes to Txbit, the other 50% (or $500) goes to the Reward Savings Pool.The share of the fees you received is proportional to the amount you have locked vs the total amount locked by all other participants. For example:
You put 2,000 XLR into savings, and there is a total of 10,000 XLR locked in savings from all participants — You will receive 20% of the Reward Savings Pool.
Other factors are involved in determining your share amount, such as if you participate halfway through the month, you will receive half the amount. If a big saver comes in mid-month, your pay will be lower as you will hold proportionally less compared to the total locked amount.
Reward Savings will be launched December 1, 2020
Stay tuned for further updates!
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