BEOS Goes Live: Time To Stake Bitshares
The BEOS project is long talked about. Now, after many delays due to legal reasons, the day of going live is here. For those who are interested in participating in this project, this information will be helpful.
For those unaware, BEOS is a middle chain between Bitshares and EOS. It will join the two together in certain way to enable for enhanced features. There are also some unique characteristics which could make this chain applications on this chain very attractive to users, especially institutional.
BEOS will provide token portability between Bitshares and EOS. At present, they are two separate worlds which do not interact. BEOS solves this issue.
It will also enable user to select the jurisdiction they operate under. This is very important to institutions who have to deal with regulation. By selecting the laws of, say, the State of New York, an institution can be sure that all transactions are handled in that area. This is vital for regulated entities that have to adhere to sanctions and things of that nature along with other regulations.
Finally, the governance will be handled by a 5 person board of a non-profit organization. This individuals are elected in a manner different from stakeholder voting. The operation of the chain itself by block signers are still determined by the stakeholders. This is to ensure reliable governance operating with the larger picture in mind.
More information can be found at https://www.beos.world/.
This project is not being rolled out via an ICO. Instead, to participate, one must have Bitshares. The idea is for those who opt to join, his or her Bitshares will be staked, thus allowing one to participate in the rainfall.
There are 2.6B BEOS available that will be distributed over 89 days. This will start on April 9th. Payouts are done based upon the total Bitshare staked at each moment (I believe it is an hourly payout). Whatever stake an individual posts will equate to an equal payout each day. For example, if I put up 1% of the total Bitshares staked, then I get 1% of the BEOS each day.
Staking requires one to go through a series of steps. There is a 500 BTS fee for setting up one's account. A post by @stan explains the process.
https://steempeak.com/bitshares/@stan/beos-launches-today-here-s-how-to-get-yours
For those who require even more hand-holding, @michaelx put together a step-by-step video that one can follow along with to stake his or her Bitshares.
One thing that needs to be mentioned is to be sure to stake only what one does not need until the rainfall starts. Part of that rainfall is going to be required to move the Bitshare back.
I have not watched the video yet so I am not sure if this was mentioned but a lot of this was put together by the team @blocktrades. They are the ones facilitating the gateway that is being used.
There are already a number of applications that are ready to be rolled out on this blockchain. Ruon, Biquitous, and Sovereign Sky are just a few of the platforms that are being build on BEOS.
Hopefully, this helps all those who are interested in getting involved in this project. Please understand, this is something that those holding Bitshares must OPT IN for. It is not a blanket airdrop where a snapshot of the blockchain is taken and BEOS issued. One MUST stake Bitshare using the gateway to receive the BEOS.
If you found this article informative, please give an upvote and resteem.
Thank you for taking the time to write this up. We really appreciate your support and continuing to spread the word about this project.
No problem. Been following the project since you all starting discussing it publicly. I set up my wallet and now have to finish up the other parts to get mine staked.
All the best you guys!! This sounds amazing.
Ahhhhh!!! If only i was a bit more stacked to get more involved with these projects. I doubt i have enough bitshares to jump on board. Erughģ! The struggle is real Great Article Task.
Any amount of Bitshares will get you BEOS.
If you stake 1000 BTS, you will get some portion of the BEOS paid out each day over the 89 days.
There is a great chance that not all the BTS outstanding is going to be stakes meaning that those who do get involved will receive a higher percentage of the BEOS.
It is highly unlikely that all the BTS held on centralized exchanges will get staked for BEOS. Just sayin' LoL
Agreed. There is only going to be a small portion of the BTS stakes.
BTS holders who get involved in the rainfall will be very happy.
Stan has been alluding to that for a long time :-)
In between trips to the hospital...bless him.
He was doing a real burnout schedule for bitshares, traveling round the world speaking at conferences and presenting to businesses, mostly on his own dime, for years.
🌹🙏🌹
Oh! I will have to double check how many BTS i have. Thanks for looking out for us Steembro.
Bitshares are up by 15% and the price is very affordable @ 7 cents.
I will look through this.
I can see the future belongs to those that seek it.
Keep on postin
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An interesting projects with some potential as it could bring some attention back to BTS again which is well deserved given the time it has serving the crypto community!
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