LONDON, UK / ACCESSWIRE / August 16, 2021 / Autostake, a revolutionary staking platform that looks to evolve the current proof-of-stake paradigm, is proud to announce the successful launch of the protocol’s native AUTO token following the completion of a private and public token sale which raised around $450,000 through contributions made in Ethereum and Binance Coin.
The total available supply of AUTO is 1,734,636, of which 654,636 (37.7%) were sold during the private and public token sales. 380,000 (21.9%) tokens will be utilized to provide liquidity on decentralized exchanges while 600,000 (34.7%) will be used as staking rewards over the next two years. 100,000 (5.7%) tokens have been set aside for the project’s creators and future development.
The experimental staking platform utilizes a system of smart contracts that automatically lock up any AUTO tokens purchased on the protocol to earn staking rewards for a minimum of 7 days. After the initial 7-day waiting period, 20% of the locked tokens are available for withdrawal to a personal wallet if the token holder so desires, otherwise they can remain staked on the network and earning rewards.
Each subsequent 7 day period allows for an additional 20% of purchased AUTO to be unlocked and withdrawn, with a total of 35 days required for users to gain access to all purchased tokens. Staking rewards can be claimed at any time.
300,000 AUTO have been set aside for use as staking rewards for each of the first two years of operation, after which time staking rewards will be funded through a 2% transaction fee.
Autostake is specifically designed to help prevent some of the most common complaints seen following token launches including whale wallets dumping tokens which leads to an immediate price crash and bot accounts that don’t allow real users to obtain any tokens.
The Autostake protocol operates on the Binance Smart Chain (BSC) which offers lower transaction costs than competing networks like Ethereum. The token officially launched liquidity pools on the BSC-based decentralized exchange PancakeSwap on August 13, 2021, at 6 pm UTC with an initial listing price of $0.90.
About Autostake Limited
Autostake Limited was founded in 2021 and is based in London, England. The Autostake platform is an experimental staking platform designed by fully public management and development teams with decades of experience on numerous projects including NFTLootBox.com, EarnNetwork.io, and StockSwap.app.
For The Media:
Autostake Limited
Wes Sharp
167-169 Great Portland Street, 5th Floor. London, W1W 5PF. England.
admin@autostake.io
https://www.autostake.io/
SOURCE: Autostake Limited
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https://www.accesswire.com/659899/Autostake-Prepares-to-Revolutionize-the-Proof-of-Stake-Consensus-Model-Following-the-Successfully-Launch-of-its-AUTO-Token
