When you stake KONG, you will earn a reward over time. The staking rewards are connected to the gross gaming revenue (house edge), which means that they increase or decrease depending on the total current amount of wagered money by all Simpledice players. But that’s not all. The number of KONG units you stake also plays a role in determining your rewards. You can potentially increase your rewards by depositing more KONG units into your staking account. For instance, if your staked KONG units represent 20% of the total KONG staked pool, you will receive 20% of the total next payout.
All KONG deposits and withdrawals have to be done through Simpledice’s wallet.
But, to start staking KONG, you need to transfer the units from your balance to your KONG staking account in the Bonuses section.
How to Understand the Staking Dashboard
The Staked Balance is the number of KONG units you are currently staking.
Monthly Average Balance is the average of units you have staked for the last 30 days. For example, let’s say you deposited 1000 KONG into your staking account today. After 15 days, your monthly average balance will be 500 KONG, and after 30 days, 1000 KONG. This average balance and Your Staking in Total Stake will be used to calculate your reward.
Your Staking in Total Stake is the percentage of the units you have staked compared to the total pool of staked KONG. This percentage will go up or down according to the money other holders add to the staking pool, influencing how much of the Next Total Reward you get.
The Staking Rewards section displays on top the estimated amount of KONG and BKD you can receive at the end of the payout period if you don't withdraw your stake. At the bottom of the section, you will see your historical staking rewards.
The Total Supply is the amount of all the KONG issued and in circulation.
The Total Staked Average is the combined average balance of all the participants’ staking accounts over the past 30 days.
The Next Total Reward is the estimated payout that will be distributed among all staking participants at the end of the payout period.
Simpledice's Responsibility Regarding KONG Staking:
Before you begin staking your KONG tokens, we want to make it clear that BitKong is not responsible for any investment decisions you make. Please read and understand the following points carefully:
- Earnings Variation: Your returns from staking KONG tokens can change based on the total wagering performance of all Simpledice’s users since the staking rewards are extracted directly from the house edge. It's important to know that there is no steady flow guaranteed regarding the house edge money, and this amount can vary in the short term. For example, if players win a lot during a specific period, the profits expected for token holders may decrease. On the other hand, if the casino wins big, the earnings for token holders could increase.
- Non-Guaranteed Returns: Even if the staking pool looks promising, it's crucial to understand that returns are not guaranteed and can change. You should be aware that the potential earnings can change fast, so it's essential to exercise caution.
- Understanding the Risks: Staking KONG tokens should only be done if you fully understand and accept the risks involved. We strongly advise you to learn more about the factors that affect staking rewards to better grasp the investment landscape.
- Seeking Financial Advice: We always recommend consulting with a qualified financial advisor before making any financial decisions. They can provide personalized guidance based on your financial goals and risk tolerance, helping ensure your investment aligns with your needs.
By staking KONG tokens, you acknowledge that you have read, understood, and accepted the terms and conditions in this disclaimer. Simpledice is not liable for any investment losses incurred while staking KONG tokens.
Remember, investing in staking holdings carries inherent risks, so only invest what you can afford to lose.