# $BITA (coming soon!)

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***Coming Soon!!!***\
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\&#xNAN;*Please be advised that BitAstir has **not** currently utilizing any Staking staking contracts for the $BITA token!!!*\
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*An Official Post will be made, in conjunction with this page being updated prior to the deployment of the official Bitastir Token Staking contract!*
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#### &#x20; ***Description***

&#x20; Any distributed system requires some form of governance or means by which to organize the actors of the system. In the cyber world of cryptocurrency this is found through some fault tolerance protocol for establishing distributed consensus (BFT/*d*BFT/POW/POS). While the intricacies of these protocols are a subject worth exploring deeply on their own; for purposes of comprehension & brevity we will only be focused on one of these mechanisms, POS.

PoS or Proof-Of-Stake, is the act of committing valuable/scarce resources to a network as means to actionably back beliefs. *\*\*(this if overly simplified for layman comprehension)* Staking is like choosing a bank at which to store your money; taking into account a variety of factors such as the ***yield,*** the ***speed & type of service,*** the ***proximity, &** perhaps most importantly the **TRUST;*** you ultimately select the option that suits your life best.

Within the context of BitAstir token’s $BITA, staking represents a directional bet on the platform’s state of demand for athletes; which translates to a global demand for Sport. By staking to the ***platform*** users are validating their notions on athleticism. Thus, the economic logic has been optimized for staking an ***earned*** social asset, rather than a financial one.

In order to fully understand the staking logic of BitAstir, it is of utmost importance to understand the independent roles of actors that will be staking on our network, as well as, the psychological reflection of that system’s incentive structure onto the public.

As a DSO (Decentralized Sports Organization) that turns athletes into assets, our key demographic of staking users for the $BITA token are, of course, ***athletes***.

This leads to the question, what utility must a digital asset provide to an athlete in order to convince them to not just buy it, not even just to continually accumulate it but to feel confident & comfortable locking that asset away from themselves for prolonged periods of time?

BitAstir has found that the answer can be found at the intersection of Cryptocurrency, Social-tokens, NFT’s & DEFI; something that we colloquially refer to as “ SportFI” *( → check out more on SportFI in our post here ←).*

As in the case with any crypto-economic environment;\
Staking is where it all begins.

BitAstir has segmented its staking into 2 modules; Base Staking & LQP staking. Both of the modules unlock the same base benefits; *yield generation*, *bitathlete status, & basic governance rights.* The main differentiator is found in the longevity of each; The Base staking will be employed in perpetuity whereas the LQP-Staking shall be operational only for a predetermined period of time. As of this writing, (02.23.2022) BitAstir has planned to complete emissions for the “***LQP”*** within 2,102,400 Ethereum blocks; which translates to roughly 1,460 days (4 years).

1. ***Base Staking —*** Simple staking module for the $BITA token. Tokens are provided to the Network for securitization & velocity generation. Yield is determined by the state of the network through a algorithm we colloquially refer to as “pPop”.\
   → ***Total allocation (amount):*****&#x20;23,777,777,777**\
   → ***Total allocation (Percentage): 21.4%***\
   \&#xNAN;***→ Reward Claim Rate: 7d***\
   \&#xNAN;***→ Reward Rate: TBD***\
   \&#xNAN;***→ Lock Fee: 0***\
   \&#xNAN;***→ Lock duration 0d:0h:15 minutes***\
   \&#xNAN;***→ UnLock Fee: 1 Bita***\
   \&#xNAN;***→ UnLock duration 1d:1h:00 minutes***
2. ***LQP-Staking —*** Provided as an incentive to liquidity providers to bootstrap the ETH/$BITA & USDT/$BITA Liquidity pool pairs on any of our predetermined DEX’s (UniSwap / SushiSwap). Users will lockup their Lp-tokens & be rewarded for doing so.\
   → ***Total allocation (amount):*****&#x20;12,777,777,777**\
   → ***Total allocation (Percentage): 11.5%***\
   \&#xNAN;***→ Reward Claim Rate: 14 d***\
   \&#xNAN;***→ Reward Rate: TBD***\
   \&#xNAN;***→ Lock Fee: 0***\
   \&#xNAN;***→ Lock duration 0d:0h:15 minutes***\
   \&#xNAN;***→ UnLock Fee: 111= Bita***\
   \&#xNAN;***→ UnLock duration 1d:1h:00 minutes***

The Staking module that will be activated first will be the BASE-staking. Earmarked to go live Q2 of 2022, Base Staking must be operational for a minimum of 75 days prior to the launch of the LQP-Staking module. This time horizon will provide BitAstir with an alpha dataset & smooth out the anticipated LQP emissions.

This article does not address the specifications of the Rewards in order to mitigate any misinformation. However, in accordance to our original lans stakers are to be allocated their rewards based on a linear emission schedule, on a block-by-block basis alongside the chain-minting speed of the Ethereum blockchain.

The Reward Rates will depend on a variety of factors & will be determined at a later date closer to the implementation of the staking modules. Some of the factors will include:\
\&#xNAN;*— Size of Stake*\
\&#xNAN;*— Duration of Stake*\
\&#xNAN;*— Relative stake size vs. global stake*\
\&#xNAN;*— Demand for $BITA from the open market*

Staking to the Base-Staking pool will leverage a range-bound for the minimum & maximum stake sizes \[ *1,111*–*1,111,111* BITA tokens] This is done a means by which to combat Sybil attacks deter whale concentration.

Moreover, the Base-Staking pool will unlock the BitAthlete Gradation dependency. The Dependency is a 10-teir multi-archy based on a staking user’s stake size & will empower its user with different capabilities based on the ranking level *{ → BitAthlete Staking Guide Here ←}*
