New DEC Staking Mechanism

Staking is the process of depositing your Darico Ecosystem Coin (DEC) with Darico in order to earn attractive rewards over your deposits. We have made the staking process pretty seamless and profitable for Daricans. 

The 2019 staking fund has been successfully completed and we have dissolved the 2020 staking fund a bit early to start our new staking program. The final payments regarding the 2020 staking fund have been made on July 15th. If you were a participant of the 2020 staking fund, we hope you have received your entire principal DEC deposited and the interest that is earned till the end of June 2020. 

Currently, the staking wallets are being developed on the Darico exchange however, you can stake your DEC on the exchange now. Please follow the simple procedure mentioned below to stake your DEC on the Darico Exchange.  

Staking Procedure:

Step 1: Please visit this ‘Staking Request Link’ to raise a quick request on the Darico Exchange. Make sure to fill your account details such as registered email address and Account UID. Choose DEC in the ‘coin’ section and enter the following details in the corresponding sections.  

• The amount of DEC you want to stake
• For how long you want to stake 
• If you want to withdraw interests every quarter (Yes/No)

Click on ‘Submit’ once you enter all the details. 

Note: Please double check your Account UID before clicking ‘Submit.’ 

 Step 2: Once the request is submitted, the amount of DEC you have chosen to stake will be deducted from your Spot wallet and gets deposited to your staking wallet. The same can be seen under the Spot wallet section, as shown below. 

 Here, 1000 DEC was staked, and we can see those funds getting transferred from 'Total DEC Balance' to 'Staked wallet' (under Staked column).

If you don’t see those funds getting reflected in your Staking wallet within 72 hours, you can contact Darico’s support team at support@darico.io  

Important notes:  

• If you have opted for quarterly withdrawals, the interest will be credited to your DEC wallet at the end of each quarter.
• You will be receiving a compound interest of 1.5% per month on your DEC deposit.
• The amount of DEC you stake will be eligible for 1:1 DECS when they are ready to be distributed. For instance, if you have 1000 DEC on your staking wallet, you will be eligible to receive 1000 DECS.

Why should you stake your DEC at Darico Exchange?

Below, we have presented you with a few scenarios on how your returns would look when you stake your DEC in the exchange.  

Scenario 1: 

• Principle deposit - 10,000 DEC
• Rate of interest - 18% yearly (monthly compounding)
• Duration - 1 year
• Regular monthly deposits - 0 
• Regular withdrawals (Only quarterly withdrawals allowed) - 0

 As you can see, at the end of the year, the total value of your staked deposits will rise from 10,000 DEC to 11,956 DEC with 1,956 DEC as the interest earned. 

Important:

Currently, the value of DEC is at $0.21 with huge growth potential. At maturity, if the price of DEC reaches to $1, your return would be explosive when compared to any other traditional investments. 

Scenario 2: 

Let’s assume you want to stake your DEC for two straight years along with a 1000 DEC deposit per month to your initial deposit. 

• Principle deposit - 10,000 DEC
• Rate of interest - 18% yearly (monthly compounding)
• Duration - 2 year
• Regular monthly deposits - 1000 
• Regular withdrawals (Only quarterly withdrawals allowed) - 0

 In the above snapshot, we can see how the total interest earned has increased with time and with regular deposits being made. 

(End of 1st year - 3,193 DEC | End of 2nd year - 9,605 DEC)

Important:

Most of the crypto experts suggest investors to buy small amounts of cryptos on a regular basis to get a good dollar cost average. This helps investors in avoiding price volatilities caused due to market fluctuations. 

Therefore, it is a good investment strategy to continue staking DEC at regular intervals and earn high interests while not forgetting the price growth potential of DEC at the end of two years.

Scenario 3: 

Finally, let’s see the amount of returns that could be earned if you stake more DEC at regular intervals for a prolonged period.   

• Principle deposit - 10,000 DEC
• Rate of interest - 18% yearly (monthly compounding)
• Duration - 5 years
• Regular monthly deposits - 2000 
• Regular withdrawals (Only quarterly withdrawals allowed) - 0

 In the above snapshot, the growth in the total amount of interest earned can clearly be seen on a yearly basis. On a pure investment perspective, this is an ideal scenario of staking your coins to earn high returns in the future.