TermRewards and SmartRetire, features that reward long-term holders of SmartCash, are getting more recognition. Recently, the number of SmartCash coins locked for these rewards has increased since the last update.
The total number of locked funds for both TermRewards and SmartRetire is now 19 million SMART. A total of 17 addresses qualified:
9 addresses locked for 15 years term – SmartRetire (50% yearly yield)
7 addresses locked for 3 years term – TermRewards (45% yearly yield)
1 address is locked for 1 year term – TermRewards (35% yearly yield)
What are TermRewards and SmartRetire?
Any SmartCash user who runs a SmartCash Node Client and has an amount starting from 1 million SMART on its address can lock SMART for a certain term and receive decent rewards.
SmartRetire and TermRewards are paid quarterly. Users can find out the yearly yield through the Node Client using the TermRewards tab.
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 will be taken on March 31st. Guides about activation can be found here. Activation consists of sending a special time locked transaction. The address will be qualified after a few confirmations in the network and will be displayed in the TermRewards tab.
Current statistics show that users prefer to lock funds for a longer period of time, and that number of users continues to grow. Long-term holders are an important part of every project and features like these, which were added in the latest release of the wallet, show that they are successful.