This is kind of an interesting feature, but I am still confused on something. I do now understand a bit about converting stakes to Ethereum. However, for some existing campaigns, I need to collaterize my TKPs. In order for me to do that, I should do the following (correct me if I’m wrong though):
1. Deposit ETH to Tokpie dashboard
2. Buy TKPs with ETH
3. Use those TKPs to collaterize 50% of stakes
My question is, since I’m required to spend money for collateral, is it profitable for me to get ETH immediately after collaterizing it?
This is where I am really confused. Can you help me on this please? Thank you in advance.
let me correct you:
To be able to sell bounty stakes you need to do the following:
1 step. You need to have TKP tokens on your Tokpie account balance by buying it on Tokpie for ETH or USDC (also you can buy tkp somewhere else and deposit it on Tokpie).
2 step. Use these TKP tokens as collateral for depositing
ANY AMOUNT of bounty stakes.
NOTE: you can deposit bounty stakes in that way even before you have earned them. If you plan to earn 4 stakes per week, then you can deposit 4x4 = 16 stakes NOW and sell.
Regarding profit.
The selling of collateralized bounty stakes is like getting 33% (1 / 3) profit instantly. Getting $1 on selling by placing collateral that worths $3 (or $1.4 if your plan is Enterprise).