TermRewards and SmartRetire are rewards for long term SmartCash holders. These features were added in the latest Horizon Release and are available to SmartCash Node Client users. The SmartCash team has set a date for the first snapshot of addresses locked for TermRewards and SmartRetire. Find out more details about this below.
What are TermRewards and SmartRetire?
TermRewards and SmartRetire allow any user to lock SmartCash coins and receive a high yearly yield in return. Users can access these features via the SmartCash Node Client.
Current requirements are an amount from 1 million SMART on the address. Users can choose several options in the case of TermRewards: lock coins for 1 year, 2 years, or 3 years. The longer the users locks coins, the higher the yearly yield.
The first snapshot date is March 31. Snapshots will be taken at the end of every quarter and users who have locked coins for TermRewards and SmartRetire will receive rewards after the snapshot is finished.
Advantages of TermRewards and SmartRetire
SmartCash lets its users earn a high yearly yield without any custodial risks. Users lock their coins at their address, to which they have a private key. There are no third parties to trust with your keys as is the case with most DeFi platforms. Recent news about hacking of popular DeFi platforms demonstrates that SmartCash offers one of the safest ways to earn rewards directly.
Fees are also low with SmartCash. Many DeFi platforms require multiple ETH fees which are getting more expensive. SmartCash Rewards don’t take out fees on each payment.