In a gesture of gratitude towards its community, bitsCrunch Network has announced an extension of its delegation rewards incentives to 100% APY for May and June. This move is a token of appreciation for the community’s continuous support in scaling and securing the network.
Dear $BCUT delegators!
Thank you for contributing to the future of the bitsCrunch Network!
In order to thank you for your unwavering support we are now extending our delegation rewards incentives to 100% APY for the months of May and June.#BCUT #bitsCrunchNetwork #APY… pic.twitter.com/0NTTyPmpJZ
— bitsCrunch (@bitsCrunch) April 30, 2024
Participants who delegate their BCUT tokens play a crucial role in the decentralization and security of the bitsCrunch Network. By delegating their tokens to node operators, they contribute to the network’s strength without running a node themselves.
How to Delegate?
The process of delegation is simple:
- Visit the bitsCrunch network interface.
- Connect your wallet.
- Select an operator with a minimum stake amount of 10,000 BCUT and within the maximum delegation limit of 3,000,000 BCUT.
- Confirm delegation after ensuring you have enough BCUT balance.
- Approve the transaction pop-ups, and your balance will be updated upon successful completion.
For a visual walkthrough of the delegation process, one of the main node operator partners has provided a guide via the following link: Delegation Visual Walkthrough
Important Reminders
- BCUT tokens reside on the Polygon POS chain. If held on the Ethereum network, they need to be bridged to Polygon first.
- Delegators earn a portion of the Operator’s query fees and rewards by delegating to them.
Bridging Tokens for Delegation
Since the bitsCrunch token contract operates on the Ethereum network while the protocol operates on the Polygon chain, Ethereum token holders must bridge their BCUT tokens to the Polygon chain to engage in staking and delegating.
Below are the steps to bridge Ethereum BCUT to Polygon POS BCUT:
- Visit the official bridge between Ethereum to Polygon: Polygon Bridge.
- Select BCUT from the token list and bridge the desired amount to Polygon POS.
- After approximately 20 to 30 minutes, the tokens will be available in the Polygon chain for delegation.
Ensuring Security and Compatibility
It’s crucial to use compatible and secure wallets for bridging tokens. Research and verify wallet support for both source and destination chains to prevent any loss of assets. Security should always be prioritized when engaging in token-bridging activities.
With the extension of delegation rewards incentives and clear guidelines for participation, bitsCrunch Network aims to further strengthen its community and enhance network security, paving the way for continued growth and innovation in the cryptocurrency space.
