BitBook Development Update Highlights — Account & Rewards System & BBT Staking Coming Mid August 2021

BitBook to Launch Travel Rewards System & BBT Staking August 2021

The BitBook website backend is fully developed, parts of the front end are completed, the design is in the final stages, and the dev team is currently working on connecting the APIs to Priceline for all the sales data needed for the rewards system. The anticipated launch date of the Alpha version will be ready for community testing by mid-August 2021. The initial alpha version will include the staking option so users will be able to begin staking BBT upon launch.

Staking BBT

Staking rewards will be calculated daily, and the APR will be determined by the total number of BBT in the staking pool for that day. The total staking pool for round 1 of BBT staking will begin with 400,000 BBT tokens that are coming from the co-founders. APRs could currently range from 4.8% to 480% depending on the size of the pool. The share received by each staker will be directly proportionate to the percentage of the pool they have contributed.

Example 1: 10 users stake 100,000 BBT tokens for a staking pool of 1,000,000 BBT

Staking Pool of 1,000,000 BBT yields an APR of 480%

Each user in the pool will receive an APR of 480% for the day

Example 2: 10 users stake 1,000,000 BBT tokens for a staking pool of 10,000,000 BBT

Staking pool of 10,000,000 BBT yields an APR of 48%

Each user in the pool will receive an APR of 48% for the day

Example 3: 100 users stake 1,000,000 BBT tokens for a total staking pool of 100M BBT

Staking pool of 100M BBT yields an APR of 4.8% for the day

APR% can vary drastically depending on the popularity of the staking program. If the staking program reaches 100M BBT then more tokens may be added to increase the APR for users who want to stake.

There are no minimum terms for staking, however, users who decide to withdraw their staked BBT tokens will pay an early withdrawal fee that diminishes over the first 90 days of staking.

To withdraw your staked BBT before 90 days the fee schedule is as follows:

90 days — 0%

30–89 days 0.5%

10–29 days 1.5%

3–9 days 2.5%

0–3 days 5%

Unstake Early Fees

Vote in the Telegram Poll going on now: https://t.me/bitbooknetwork/119236

For maximum earning potential stake your BBT a minimum of 90 days.

BitBook staking is not susceptible to impermanent loss that is a real risk for liquidity pool (LP) providers. There is also no requirement to hold a second token as you would in an LP scenario.

The risk involved in staking BBT is limited only to the value of the token decreasing. There is no risk associated with impermanent loss, and there is no risk associated with losing the BBT tokens that are staked in the smart contract.

There will be a comprehensive guide for staking BBT when it’s time, so make sure to subscribe to the BitBook Medium Blog and BitBook YouTube Channel to be notified first.

BitBook Website Design Home Page

The BitBook home page design is being finalized now, and this is the current status. The still picture doesn’t do it justice as the clouds lazily drift through the sky, and the water laps against the shore, instantly transporting travelers to a holiday vibe. Accommodations can be booked stand alone, as can flight and car rentals or package deals can also be arranged through the search function.

The home page proudly displays a live information feed for BBT on CoinMarketCap, and of course by hitting the Trade Now button you will be able to access all the current markets where BBT is available to buy.

Top destinations will be determined by what is booked and searched for the most, and will change dynamically with the seasons as travelers’ needs, wants and desires are constantly changing.

BitBook Account Creation for Rewards — Earn Passive Income in the form of BBT Tokens

The BitBook account creation page is set up to allow anyone to register with either an existing email from any service, or utilize the quick login services available to Google and Facebook users.

Once logged in you will see the Account Profile page where you can update your personal info and access the following services by BitBook:

• Wallet Connection
• BitBook Rewards
• Booking History
• Invest & Earn
• Settings
• Log Out

The wallet will connect directly to your online wallets such as MetaMask or TrustWallet and you will be able to see your BBT balance as well as make a deposit. You can keep track of your own travel rewards as well as your travel history. The Invest & Earn tab is the Influencer reward pool, this is where you get your affiliate link to send traffic from your website, blog or vlog and anyone that books using your link will earn you a reward, not just once, but anytime they book for the next 20 years you will earn a slice of the influencer reward pie.

Users can guesstimate how much they might earn by seeing the previous month’s payouts for both the booking reward pool and the referral pool. You will have the option to claim your rewards or allow them to accumulate over time.

On the invite tab you will see how many people you have invited and the total number of trips they have taken. In the future, there will leaderboards for influencers who have invited the most people or earned the most BBT commissions.

Staking will be available when the BitBook alpha rewards system goes live in mid-August this year. That has not been added to the Account Profile page, but it will be there along with a full guide on how to stake your BBT so you get the most out of your investment.

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