TimeWarp, Chrono.tech’s staking program for $TIME tokens, is now live! Users can earn rewards by visiting Timewarp.finance and locking their $TIME using MetaMask. You can lock any amount of $TIME, and the longer you commit to locking your tokens, the more rewards you’ll receive.
How TimeWarp works
Chrono.tech’s ecosystem of blockchain products and services generates an ongoing stream of revenues. A proportion of these revenues are used to buy $TIME off the open market, maintaining steady demand for the token.
$TIME holders can lock their tokens in one of the TimeWarp pools. They will receive weekly payouts of $TIME generated by Chrono.tech’s activities. The amount paid out is proportional to the number of tokens locked, and a reward multiple determined by the period of time users commit to locking their $TIME.
Early bonuses and reward multiples
Every time a user locks tokens, they will be charged a one-off fee of 0.1% of the total amount. This will be distributed between users who have already locked their tokens. Therefore the earlier a user locks their $TIME, the greater the bonuses they will receive from subsequent stakers.
Additionally, users can increase their returns (not their original token stake) by committing to locking their $TIME for a longer period. Tokens can be locked for anything from one hour to two years:
- Alice has 100 $TIME. She locks them in the TimeWarp smart contract for the minimum period of one hour.
- Bob also has 100 $TIME, but he locks them in the smart contract for the maximum period of two years.
- Bob will receive twice the weekly payouts that Alice does, rewarding him for his long-term commitment.
- The impact of earnings multiples will depend on how long everyone else in the pool locks their tokens. For example, if everyone locks their $TIME for two years, no one has an overall advantage.
In the coming weeks, we’ll be adding support for $TIME staking on Binance Smart Chain, enabling users to take advantage of BSC’s low fees and native DeFi ecosystem. We’re also adding more wallets and making some changes to LaborX’s Premium Accounts model, which will benefit both LaborX users and TimeWarp stakers.