Get PAID for HODLING!
As has been made mention in previous telegram discussions, as well as our previous livestream AMA, we have gathered and reviewed feedback from our community and utilized it to create a structure for holding rewards within the Latium platform. We truly believe this is a unique and positive initiative for our current and future platform users.
Should our users share in our long-term vision for the Latium platform, we feel it is appropriate to reward them!
Take a look yourself at:
Holding Rewards Details:
Before diving right in to the specifics of the process, we would like to start first by explaining the options in no uncertain terms. Our goal has always been clarity and transparency and this remains the case especially with a longterm rewards system. From the description available we see that,
“We’d like to show our appreciation to all Latium HODLers by offering Rewards for participating in a Lockup Period. To see what your Reward could be, simply select a Lockup Period and enter a Lockup Amount below. Reward Rates are based on the length of the Lockup Period you choose. The Reward and full original Lockup Amounts will be released back to your main Latium balance once the Lockup Period is complete.
Don’t worry, you can cancel the Lockup at any time without penalty and receive your full original Lockup Amount immediately. However, you will only receive the Reward if you allow the full Lockup Period to complete.”
We will have a full tutorial example next, so don’t worry about the specific process, but focus instead on the concepts presented here. As noted on the dashboard tab we see that the timeline scheduled offered for lockup includes:
- 30 Days – 3%
- 90 Days – 4.5%
- 180 Days – 6%
- 365 Days – 10%
-Please note: These are annualized percentages.-
In this case, should you like to lock up a set amount of $LATX for say, 30 days, you would be offered a 3% annual percentage reward, available at the conclusion of 30 days. The calculator within the page would let you know in advance what the reward would be, allowing you to add more or less to the lockup as you wish.
While similar options are available within financial markets, many times they have penalties for withdrawing early. With Latium, there is NO penalty for canceling a lockup! Instead, you would simply lose any reward that you were working towards earning in process. If you wish to cancel, your original funds are returned to your platform account. Let’s take a look at the process!
As you can see below, your initial view of the Holding Rewards page will be presented as follows.
Continuing, we will choose a lockup period of a year (365 days) and a total LATX amount of 650. The resulting reward rate, reward, and total is also reflected as shown below.
After selecting the lockup period and amount, we will next click “Lock Now” to be presented with the following screen.
After confirmation, you will be able to check your current, active rewards, and see it reflected accordingly.
Should you wish to cancel for any reason, the option is always available! Just click the cancel button near the appropriate lockup and you will see the following options onscreen.
Finally, if you wish to confirm your history of completed or cancelled lockups, you will always see them reflected within the “Reward History”.
And that’s it! It was our goal to ensure that any reward system we implemented was both simple, intuitive and long-term in availability. We welcome anyone that wants to take advantage of the opportunities presented here, but likewise understand if users don’t wish to either. We believe the Latium platform is all about offering multiple options and features to as wide and diverse of a user base as possible.
Founder’s Lockup Extension
We would also like to take this opportunity to confirm the extension of the original founders lockup period for an additional 12 months. Any amounts needed to pay advisors that don’t wish to participate in the extension will be purchased from the open market. The Extension will take place in November and we will provide all associated transactions for the public to review and confirm.
We have always made our longterm vision for Latium clear and vocalized and wish to continue doing so with our own commitment to the platform and brand in development. As David Johnson, CEO & Co-Founder himself has said,
“We have never been about short term thinking, so why not prove that.”