Announcing Spark Long Term Deposits/Investments
This gives you the choice of locking in a certain amount of Spark for a time period (1, 2 or 3 Months) for a higher interest PoS rate. Once you lock in your Spark they are unusable for the time period selected and once the time period is over you will receive your larger amount.
If you choose to cancel your deposit you forfeit all interest (including normal PoS interest) and will be able to use your Spark again. More detailed information on the background and technical details will be released near launch of this feature.
The interest rates are still being tweaked and changed but below is an example of how it will work;
10,000 Spark Deposited x (5% + 17.5%) = 12,250 SPARK
5% = 1 Month Deposit
17.5% = Normal PoS Rate
The larger amount you deposit, and the longer time period will generate an even higher interest rate.
We expect Term Deposits to be available once the PoS stage has started, along with hopefully the HTML5 wallet!