With Solaris Savings you can lock your Solaris for a set period of 6 or 12 months, and receive guaranteed returns at the end of the lock period! By utilizing the enterprise infrastructure of Txbit, and the safety of Cold Staking, you can feel at ease knowing that your funds are not only safe but growing each day! Solaris Savings is only available through Txbit. Current saving plans are: 6 months - 5% Interest 12 months - 17% Interest Lock 1,000 XLR in the 12-month plan, you will receive 1,170 XLR at the end lock period. No need to mess around with wallets or VPS instances. Making passive income has never been easier. The current minimum amount to lock is set to 1,000 XLR but will be actively adjusted to account for price changes. In this article, we give you all the information you need about Solaris Savings.
The big question here is: Shall I join the savings program? And if yes, how much shall I lock and for how long? Those questions have no simple answer. Ok, let's give you some information to think about: What are the risks or cons to lock your Solaris? If the price of XLR is going up in the 6 or 12 months you have locked your XLR, then you cannot sell your XLR and not able to take the profits of it. What are the benefits of locking my XLR in savings? Well, you get a high interest of 17% when you locked your XLR for 12 months, for free. Please beware that the interest will be payout after the locked period.
Charles wants to put 10.000 Solaris in Savings. He locks his Solaris for a period of 6 months. He will get 500 Solaris interest after the locked period. (5% of 10.000 Solaris) When he locks his Solaris for a period of 12 months, he will get 1.700 Solaris interest after the locked period. (17% of 10.000 Solaris) But, there is another option: He can lock his Solaris for 6 months and put the Solaris with interest after the first period another time in Savings for a period of six months. Let's see what happens: After the first 6 months, he gets 500 Solaris. Then he puts his 10.500 Solaris for another six months in savings. After six months he gets 525 Solaris. In this way, he gets 1025 XLR interest over 12 months.
Your spendable balance is the total amount of XLR on your Txbit account. There is a minimum of 1000 XLR to join the savings program. Please beware that you lock your Solaris for a set period, this cannot be undone!
First, you need to choose the period you want to lock your Solaris. You can choose from 12 months or 6 months. Both have different interest rates. When you choose 12 months, you will get 17% interest and when choosing for 6 months you will get 5% interest.
Now it's time to figure out how much Solaris you want to lock in Solaris Savings. This must be more than 1000 XLR, this is the required minimum. You can fill in the amount by your self or you can use the slider for a percentage of your balance, like 25% or your total balance. Keep in mind: This cannot be undone!
The balance is the amount of Solaris you locked plus the interest you earned so far.
In this overview, you will see a live overview of your balance: 1. Date: This is the date of starting the locked period. 2. Period: This can be 6 months or 12 months. 3. Investment: This is the amount of XLR you locked. 4. Current value: The current value is the amount Solaris you locked plus the earned interest so far. 5. Profits: The profits are the interest you earned so far in XLR. 6. Interest rate: This is the interest rate, this can be 5% or 17%, depending on the locked period you choose.
Yes, joining Solaris Savings is 100% Free of charge!
No, joining the Solaris Savings program is KYC voluntary.
The interest will be paid by the Solaris team out of the dev fund.
You will receive the interest after the locked period.