PRESS RELEASE. The new initiative extends the Ethereum-based TimeWarp staking programme, which currently offers a yield of 224% APY.
TimeWarp, a new DeFi farming opportunity backed by multiple real-world revenue streams, has just launched on Binance Smart Chain after a successful earlier launch on Ethereum.
The initiative enables holders to stake TIME, the native token of an ecosystem of blockchain-based products and services developed by Australian blockchain company Chrono.tech.
The TIME token has now been launched on Binance Smart Chain (BSC), with a growing number of Chrono.tech’s services also integrating the popular blockchain thanks to its low fees and compatibility with Ethereum’s smart contracts. TIME tokens can be swapped between Ethereum and BSC using a purpose-built bridge.
How TimeWarp works
Chrono.tech generates a constant stream of revenues from its services, which are collectively designed to streamline access to recruitment, work and payments.
A proportion of these revenues are converted to TIME tokens, which are bought on the open market. Since TIME has a limited supply (710,113 tokens) and they have all been issued, this creates constant demand and helps to increase price support. TIME tokens purchased in this way are paid out every week to holders who stake their TIME tokens in the TimeWarp smart contract.
Tokens locked in the contract are subject to a staking multiple, which is determined according to the period of time users commit to locking their tokens in advance. A user who commits to staking 100 TIME tokens for a year will receive higher payouts than one who locks 100 TIME for just a month, for example.
The BSC Pool for TIME staking is now open, in addition to the existing Ethereum staking pool, which has delivered returns of around 224% APY to date. ‘The low fees entailed in using Binance Smart Chain will allow holders to take more of those earnings home with them,’…