How to Receive up to 15% APY Staking Rewards
Thank you for your patience. The SocialGood Team is now starting a staking rewards membership program where users can receive staking rewards for the SocialGood cryptocurrency (SG) held inside of the SocialGood App and their wallet.
What are Staking Rewards?
The staking rewards program allows users to receive up to 15% APY through SG in their SocialGood App and in an external wallet like MetaMask. The membership rank is determined by the amount of SG held and the cumulative total of the purchase amount for the past 2 months. The amount of staking rewards received depends on the membership rank.
SocialGood App Staking Rewards Membership Program Overview
As shown here, the more you shop using the SocialGood App and the more SG you hold, the higher status you will reach. This will allow you to receive even more staking rewards
For a limited time, Platinum Rank users are also able to receive 15% Staking Rewards.
Note: The vertical axis (Staked) is the amount of SG you hold (the total of your SG in the app and inside of your wallet connected to the app)
The horizontal axis (Purchase) is the cumulative total of your purchase amount for the past 2 months. Your membership rank is determined by these two axes.
*Total Staked SG = Approved SG inside the SocialGood App * 1.03 + SG inside of connected MetaMask wallet + Staking Rewards.
*The amount of shopping refers to the amount spent through the SocialGood App in the 2 months previous to the time of calculation through the app and includes approved and pending SG.
*The Staking Rewards are recalculated every 6 hours, the interest rate indicated is in APY.
*The purchase amount is calculated based on the information provided by the stores. In the case that the information is not provided, the purchase amount will be estimated at The SocialGood Team's discretion. Because of this, we ask for your understanding that the purchase amount may not perfectly match up with the actual amount of your purchases.
About Membership Ranks
There are 5 membership ranks: bronze, silver, gold, platinum, and diamond. In order to reach each of these, you will need to fulfill the following requirements.
Your membership rank is recalculated every 6 hours, and the staking rewards for that rank will be added to your SocialGood App. You can receive compound interest as your Staking Rewards will be calculated based on both the initial SG and the accumulated Staking Rewards from previous periods. In addition, approved SG inside of the SocialGood App is calculated in the total staked SG at an increase of 3%.
- Diamond Rank (15% APY)
- Total amount purchased in stores in the past 2 months is US$100,000 and up
- Total Staked SG is at least 5,000SG
- Platinum Rank (Temporarily 15% APY)
- Total amount purchased in stores in the past 2 months is over US$2,000
- Total Staked SG is over 200SG
- Gold Rank (7% APY)
- Total amount purchased in stores in the past 2 months is over US$1,200
- Total Staked SG is over 50SG and total amount purchased in stores in the past 2 months are over US$0.01
- Silver Rank (4% APY)
- Total amount purchased in stores in the past 2 months is over US$0.01
- Total Staked SG is over 50SG
- Bronze Rank (1% APY)
The initial status
*There may be cases where your staking rewards do not update every 6 hours. However, in that case, the missing rewards will be added the next time it updates.
For more information on staking: How to Start Receiving Staking Rewards