TBILL: Buying, Staking and Earning HIGH REWARDS
ThetaCash (TBILL) is a new rebasing token launched on the Theta Network by the GPooL team. Many of us who have invested in Theta have recently heard of TBILL, and many people understandably still have questions when it comes to TBILL. In this article, I’ll break down the concept of rebasing, how to buy TBILL, stake TBILL and what these High Rewards look like.
As TBILL rebases (expands or contracts total supply) its price component strives to remain relatively range bound from 0.95–1.05. When the value of one TBILL moves outside of the target range a rebase occurs and the overall supply of TBILL either expands or contracts (increases or decreases) as the price is brought back to its targeted range. This means, the supply of TBILL you own in your wallet also expands or contracts. If the overall supply is expanding, the amount of TBILL you hold is then going up for all holders of TBILL. It would be like the “government” printing 50% more money because there is an increased demand for the money and then saying; you had $1000 in the bank, now you will have $1500.
So how do I buy TBILL?
Buying TBILL is fairly easy, all you need is your MetaMask Wallet and then I will explain how to set it to the Theta network so you can buy it without paying ETH gas. Once I had set up Metamask for the Theta network the Tfuel I paid for gas was about $0.20, (so much cheaper than ETH…thank you Theta).
Whether you have a Metamask wallet or you are new to using MM I have linked this guide posted by the GPooL team. I didn’t have any difficulty purchasing my TBILL, but let’s review my steps.
Following the guide, I added Theta Mainnet to my MetaMask wallet. Then I had to send TFuel to my MM wallet; you can either send TFuel from your Theta wallet, an exchange such as Gate.io, or even swap one of your cryptos for TFuel on Simple Swap or a similar site. I kept it easy and sent TFuel from my Theta wallet to my MM wallet.
Now that I have TFuel in my MM wallet, my plan is to swap half of my TFuel for TBILL. I said half because I will need an equal value of TBILL paired with my TFuel to join the Liquidity Pool. The creators also made a guide for the swapping process and to add to Liquidity Pools. You can reference it below, but I will also walk through my step-by-step experience.
Start with, ThetaSwap.io and connect your MM wallet. In the upper left area of the page, you will see Swap, Pool, Bridge, and Guide. Click on Swap. Here you will see TFuel appear at the top and if you connected your wallet correctly your TFuel balance will show. Below this it says Add Token, click on this and see a list of tokens you can add to your wallet. Add each of them by clicking the drop-down tab next to each currency and clicking the wallet icon (this adds the correct Token Contract Address into MM).
Now I am ready to swap half my TFuel for TBILL, enter half the TFuel amount and the Swap will show you how much TBILL you will receive. Click allow TFuel at the bottom area and then confirm in your MM wallet. Now I have equal amounts of TBILL/TFuel to add to the Liquidity Pool. (Note there may not yet be liquidity pools for all of the currencies currently listed: Tfuel, USDC.eth, WETH.eth, WBTC.eth or BDOG)
Just to be clear, I own TBILL and when it rebases, I will see the number of TBILL I own move higher or lower, as will all holders of TBILL. But to earn the aggressive 50% APR rewards with my TBILL I need to stake my TBILL/TFuel to the Liquidity Pool.
To stake, I head back to the upper left area of the ThetaSwap.io page where you see Swap, Pool, Bridge, and Guide. Click on Pool, then click Add Liquidity. Now, I select the currency combination I will be using; TFuel and TBILL and the amount for each should appear. As you choose the amount, the paired amount will populate to reflect a 50/50 USD value. I simply chose to add the max amount for my TBILL side, but you can modify the amount that suits you. Once you’re ready and click supply, you will now see a confirmation of the amount you are putting into the Liquidity Pool, the price conversions are shown, as well as the share of the pool you own. Click confirm supply and accept the transaction in your MetaMask wallet. The transaction should prove successful, and you can see your holdings in the Liquidity Pool under the Pool tab at the top. This is also where Manage can be clicked on for more detailed information. The next and final step to staking your TBILL is to shift to the webpage TBILL.io. Under the Staking tab, you will be directed to a page with a dashboard. Here you will connect your MetaMask wallet once again and simply click the ON button to Activate the LP Staking. If you have your Liquidity Pool holdings set up correctly on Thetaswap.io, then your funds will be quickly added to the Liquidity Pool. Scroll down on the page to see rewards earned every 10 minutes. It is also important to note that every day at midnight UTC, your TBILL rewards will be automatically added to your MetaMask wallet. Two hours after that at 0200 UTC is the time a rebase will occur if the TBILL price is outside the target range.
Here is a great How-to video about buying and staking TBILL by Crypto Elite on Youtube. https://youtu.be/FVQx5uWiy2E
With the TBILL Liquidity Pools I can easily Manage my staking. I can add or remove from my staked position with the click of a button anytime I may need to and nothing more needs to be done or activated once already activated. This Liquidity Pool is also unique because if I ever need to withdraw my funds, I am not penalized for doing so. By penalized, I’m referring to the NFTs that will be airdropped in the future, based on my time in the liquidity pool. If you put your TBILL in the liquidity pool and hold it there for 6 months, you will be airdropped a 1.5x NFT multiplier. But if for whatever reason, I have to take my TBILL out of the liquidity pool (say after 3 months of holding it in the LP), I can do it with the click of a button. Then, when I’m ready to put funds back into the liquidity pool, I restart exactly where I left off (at the 3 month mark where I was before). I appreciate that the TBILL team recognizes the time I already had dedicated to the liquidity pool and simply puts my time on pause instead of restarting from zero.
What exactly are NFT Multipliers?
The NFT Multipliers are a major boost to my base APR, they are airdropped to those who provide to the Liquidity Pool. When you stake your TBILL in the Liquidity Pool, once it has been 6 months you are airdropped a 1.5x NFT multiplier and once you’ve reached the 12 month milestone, you’ll be airdropped a 2x NFT Multiplier. When TBILL is paired into the Liquidity Pool with another supported asset, the LP provider automatically earns a 50% Annual Percentage Rate (APR) on both assets. The NFT Multipliers we receive at the 6 month and 12 month milestones are applied directly to the APR on the TBILL side of your liquidity pool pairing.
For example, if my pair in the liquidity pool is TBILL/TFuel, once I have my 1.5x NFT Multiplier I will now be earning a 75% APR on TBILL (50% x 1.5 = 75%) and I will continue to earn 50% APR on my TFuel. Fast forward to the 12 month milestone, when I apply my 2x NFT Multiplier I will be earning 100% APR on TBILL (the base 50% x 2 = 100%) and will continue earning the original 50% on my TFuel in the liquidity pool.
I was sold with the 100% APR, but I was so excited to learn when I put my rewards that I earn each day back into the liquidity pool, I can compound my investment to earn a Huge APY. That 100% APR on my TBILL then becomes a compounded interest rate earning me 171.46% APY… once I get myself a 2x NFT Multiplier.
To calculate your APR earnings based on what you supply to the Liquidity Pool, the TBILL creators posted a calculator for patrons to see what their daily, weekly and monthly reward earnings will look like. You can find the calculator at GPooL.io/calculator.
The team behind TBILL is dedicated to the crypto space and the metaverses. This team is made up of crypto veterans, these are the guys who understand crypto and enjoy what they do; striving to pave the way for Web 3.0. While TBILL stands alone, this team has outlined future plans I am excited about and look forward to that compliment TBILL. For these reasons I am confident in my investment into TBILL and the Gworld Ecosystem. This should give you a good foundation for TBILL and how to stake it to earn rewards. If you liked this article, look for more TBILL articles that will help explain concepts relating to TBILL and why a mature TBILL is expected to be a better form of money.