Discontinuation of Staking on Baanx App — FAQs

BXX
2 min readOct 13, 2023

Why is this happening?

When we first launched the Baanx App, we saw some tremendous traction and we are glad that our users have enjoyed its features.

However, as we continue to grow and work more toward our mission of bridging the gap between Web2 and Web3, with leading partners like Ledger and Opera, we have decided to change our focus to these platforms.

What will happen to my existing staking deal(s)?

Any current staking deals in the Baanx App will not be affected. Once the staking period ends, these will be unlocked and available for you to move to the CL Platform.

You will receive your current staked balance and the benefits for the month in which your staking deal is closed. Please also note that we will not be releasing any staking deals either.

You will be given a 7-day notice of when unlocking will start and we will let you know when your funds have been unlocked. You will then have 30 days to remove all funds from the Baanx App.

Where else can I stake my tokens?

We have successfully launched our staking feature on the CL Platform within Ledger Live and our Web App. By locking your BXX tokens, you can enjoy increased limits of interest-free spending, higher LTV packages and rewards of up to 25% APY.

How do I sign up for the CL Platform?

To sign up for the CL Platform, you will need to go to www.withcl.com and select Sign Up Now near the top of the page. You will be able to carry out the onboarding process from there.

How do I stake with CL?

To stake your BXX with CL, simply:

  • Open the CL Platform and go to the Card section
  • Go to Staking and select Stake Now
  • Enter the amount to stake and the locking period
  • Review APY and estimated reward, then select Stake Now

To find out more about staking on the CL Platform, you can read the FAQs here.

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