The long awaited BTZC airdrop has taken place. We have delivered over 38 million BTZC tokens (nearly $120,000 USD at the time of writing) to those who had staked in the first (old) BTZC staking contract on VibraVid.
The rewards were distributed as follows:
The initial staking contract went live on March 23, 2021, and abruptly paused on April 1, 2021, blocking any additional stakes. The issue with the contract was that rewards were unable to be distributed (for more information, please visit: https://beatzcoin.medium.com/urgent-btzc-staking-update-a552ad52a160).
We expected a fairly quick fix, and offered to provide stakers with double the rewards for the inconvenience. Unfortunately, the contract needed a major overhaul, and required testing on Tron main-net before its official release on May 15, 2021.
BTZC stakers who are eligible for the airdrop will receive 20% rewards for a 45 day period, and a 40% rewards BONUS for a 15 day period. We apologize for any confusion that may have been caused.
We can only provide information as it is given to us. I knew we could not dilute the market with another 38 million free tokens. Some people will understand the decision, and some may get upset. It is what it is. I’m learning to not speak too soon…but when you have a community of people who are demanding answers, that was the reasonable solution at that time. Unfortunately, things took longer than expected…but we couldn’t put out another broken contract.
-Steven Zambron, Founder
BTZC staking is live on https://vibravid.io/guest/staking. The 20% APR rewards deadline is tomorrow, Friday, May 28, 2021 at 11:11pm UTC. Any stakes made or added after the deadline will be at the reduced rate of 12%. Users who staked or added prior to that date will continue to receive the 20% APR on any tokens remaining in the contract prior to the deadline. Un-staking before the deadline will also forfeit the user’s claim to 20% rewards. Staking is planned to be provided throughout 2021, and will be re-determined for the coming year.
In closing, thank-you for your support and patience. As you may know, we have expanded our development team, and will be posting updates in regards to “What’s Next for VibraVid and BeatzCoin” very soon.