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Baked Matic emerges as an innovative pioneer in smart contracts



Source: Unsplash

The Baked Matic smart contract is basically a locked staking rewards pool, the funds deposited are converted into and represented as ‘Beans’ on the dApp. The project will pay you up to 8% of your investment daily.

Your choice whether to:

“Eat Beans” — claim your rewards daily

“Re Bake” — compound your investment.

They have a great mechanism built into the smart contract where you are

Your daily reward rate is up to 8% daily but will decrease if you withdraw too regularly, hence it is recommended to follow a 6-day Rebake 1 day Eat Cycle every week, for both the longevity of the protocol and your own reward rate.

Do take note that if the Total Value Locked (TVL) in the contract is dropping this reward percentage can also drop to 2–3%. To date, the TVL of the contract is only increasing and the reward is stable at 8% per day (May decrease based on the user’s withdrawal habits)

Taxes & Fees

There’s a 10% fee on your initial investment. From each of the 10%, 75% will go towards development while the other 25% will go towards Marketing.

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Disclaimer: This is a paid post and should not be treated as news/advice.

With Masters in Mass communication and journalism, Anjali's interests lie in blockchain technology adoption across emerging economies.

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