Ubistake is a fixed rate staking service for UBX, which is the native coin of Ubix network. The service was founded on the rock-solid infrastructure in 2022 and besides it's official website, it can also be accessed via Ubikiri credentials, the super app of the Ubix network. The service is designed for anyone willing to stake UBX coins to support the network and earn rewards. Importantly, there are no lock-in periods with withdrawals being available anytime at customer request.
The app is available for downloading on Google Play.What is Ubix network
Since Ubistake was primarily designed for staking UBX coins, it is of outmost importance to shed some light on the Ubix network
UBIX.Network is an open-blockchain powered ecosystem designed to integrate decentralized applications into a cohesive whole. It is designed with the help of the most innovative solutions consisting of blockchains of various types used to exchange sensitive data (master data) between applications.
For the exchange of values within the platform, native UBX coins are used. In order to regulate the money supply, monetary approaches have been introduced with the use of public reserves and emissions funds.
In addition to UBX, tokens issued by various other projects are used. For economic integration with external ecosystems (primarily with Ethereum), crypto depository receipts are widely used both for UBX and for tokens issued on the platform.Working principle
The principle of work and calculation of rewards on the Ubistake platform is similar to that of other staking services. Customers can buy or transfer coins to Ubistake from Ubikiri, with a minimum amount allowed starting from as little as 50 000 UBX.
The only thing the user needs to do, is to stake the coins, which is a several click process, for which he/she will receive passive income for the period of time of locking.
With Ubistake, the process is as easy as follows: the user needs to select the amount of UBX coins, the period of staking (a day, month, year) and click on the "Add assets" button. The amount of rewards earned will be displayed in UBX, USD and ETH in green numbers.
After adding the coins, the system locks the specified amount, and for the time of retention, the coins are subtracted from the wallet. It should be mentioned that the interest is accrued on a daily basis. Besides this, users have the option to choose to close the contract earlier. But in this case, the previously accrued interest will be deducted.How much can be earned with Ubistake
There is an intuitive, easy to use calculator delivered with the latest upgrade of the platform. With it, the amount of rewards earned can be instantly viewed in UBX, USD and ETH.
Stacking plans with a fixed rate are much easier to comprehend and use. On different platforms, they differ in locking periods, interest rate (not only the size, but also the type — annual or fixed for a specific period), the number of available assets.
The amount of rewards earned for staking UBX coins can be calculated as follows:APY calculation formula: Amount * (1 + Rate) ^ n) - Amount
Now let's calculate how much you can earn on a fixed staking plan on Ubistake. The calculation will depend on the amount of UBX coins staked and the term of staking.
How to calculate: if we take, for instance, 50 000 000 UBX for 30 days of retention, the excess profit will be 10 301 213 UBX, or around 620 dollars. It is very easy to calculate this: the trader's rate is multiplied by the proposed percentage.