What Is Algostake (STKE)? Complete Guide & Review About STKE

What Is Algostake (STKE)?

Algostake ASA(Algorand Standard Asset) #511484048 is a token built on the Algorand blockchain. AlgoStake owns an application which allows the owners of any Algorand ASA’s to setup staking at a particular APY for their coin/token holders.  The mission is to provide an easy self set up system for Algorand ASA owners.  

Every ASA owner should be able to offer this feature not just a select few.  This feature will help people hodl their coin for future growth. Along with automated application for paying an holders of your coin they also plan to offer automated rewards for liquidity pool providers.  Both of these features are an automated service which is greatly needed in the Algorand ASA ecosystem. AlgoStake will be used as the payment for these two services.  

To set up staking for your coin you will supply both your token and AlgoStake Coin to the escrow wallet through the interface. They truly hope this gives the small coin owner help in expanding their ASAs.  In addition AlgoStake will use it’s own platform to offer an APY to is holders.

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Mission

To enable other ASA coin owners on Algorand the ability to provide staking and liquidity ownership rewards to grow their communities.

How Does AlgoStake Work?

With the AlgoStake Coin app, anyone can set up a staking percentage to be awarded to the holders of any ASA coin. Connect your wallet, set up your stake amount, and fund the stake with whatever coin you are awarding through AlgoStake. To take part in staking, your coin holders must visit application, connect their wallet, and opt-in to the stake, though the coins will remain in their wallet.

They take random snapshots nightly of the asset holders (at different times), and will credit users who have opted into the stake. Holders who do not opt-in won’t get allocated staking rewards. Users who have opted in can return to the site to claim their rewards without ever giving control of their holdings.

Uses

AlgoStake’s main use as a token will be as gas for AlgoStake’s services.  AlgoStake  application’s uses are to allow Algorand ASA owners to provide their customers a benefit to holding their token and providing liquidity through automated rewards system(staking). The application gives the owner complete control of APY, min token hold, and length of time.  

How to get AlgoStake

AlgoStake Coin can be purchased from Tinyman as we are providing tokens in the Algo/AlgoStake liquidity pool.  Other liquidity pools will be created in Tinyman and other exchanges as they become available.  once you own tokens they are using own service to offer a high yield APY of xx% that you can claim at app.algostake.org . 

Token distribution

• 250 million coins reserved for liquidity pools, starting with 75 million in Tinyman
• 250 million for the team(over min of 5 year period)
• 200 million coins reserved for staking rewards for our coin holders who stake
• 100 million for expenses – transaction fees, website …
• 50 million coins reserved for liquidity pool provider rewards
• 50 million coins for marketing
• 50 million coins for promotions and give aways
• 50 million coins reserved for supporters

Wallet Addreses

AlgoStake Coin current list of wallets associated with this project can be found below. Any future wallets will be added below.

Main wallet (initial liquidity, holding tokens)

SSV6SKTMN3IOJO6SWUAT5ERZOBC5K44CQPOH5O7NSXJLGFGU73WUQ7DPGA

Escrow wallet

4ZK3UPFRJ643ETWSWZ4YJXH3LQTL2FUEI6CIT7HEOVZL6JOECVRMPP34CY

history for these wallets can be seen at algoexplorer.io