Banking

Deposits and Investments form the backbone of the Conceal ecosystem, providing users with an egalitarian form of staking that earns interests on locked funds.

What is a Deposit?

A deposit allows you to lock funds for a specific period and earn interest. The minimum period for a deposit is one week and the maximum is one year (52 weeks). Interest rates increase from 0.0698% for a one-week deposit to 4.1% for a one-year (52-week) deposit. The longer you lock, the more interest you earn. (A week is represented on the blockchain as 5040 blocks).

What is an Investment?

Investments provide higher interest returns for long-term holders and require a minimum of 50000 CCX. With rates starting at 1.4545% for 1 quarter and as high as 36% for 20 quarters. In addition, the more you lock, the higher the interest.

Creating a Deposit/Investment

Deposits and Investments can only be created from the Desktop Wallet. If you haven't already done so, install it, and create a new wallet.

Step 1

Ensure that you have sufficient funds to create a deposit. In the case of an Investment you will need a minimum of 50000 CCX. Then, in the Desktop Wallet, click on Banking from the left hand menu or, the Deposit button in the center, or the icon in the Deposits stats box.

Step 2

You are now in the Banking screen of the Desktop Wallet. The wallet defaults to deposits, and you will see options for deposits first. If you want to make an investment, click on the New Investment tab.

Step 3

Enter the amount you would like to deposit/invest, followed by the duration. The graph and the stats will update to show your expected interest earning for the values you set. Click Create New Deposit/Investment once you are ready proceed. In the example below, I am creating a 10 CCX deposit for 2 weeks.

Step 4

Once you click you will get a prompt asking for confirmation. Please remember that your funds will be locked for the duration of the deposit/investment. Click OK to proceed or Cancel to change your values.

Step 5

If you proceed with the deposit/investment, assuming there are sufficient funds, you will be taken to the transaction history screen which will show you the transaction.

Important: Once you create a deposit or an investment, the funds will remain locked for the duration you select. You will only have access to the funds and the interest when the deposit (or investment unlocks).