Stake Piston Tokens and Earn 1% Daily.
Is this the future of passive income?
Click here to go to the Piston Website
Disclaimer: This is not financial advice. If you need this disclaimer, don’t read this review. We forge our own path and take responsibility for our own decisions and actions. My intention is education and fun (DYOR). Enjoy!
The Piston Race
I started following the development of the Piston project six weeks before they launched, which was shortly before the Crypto crash of May 2022. As you know, I’m not a tech guy, I’m a people guy, which is why, when making an investment decision, I look primarily at the people behind the project and the community around it. As with many projects, I first heard about this one in a YouTube video. At that time, the team was still developing the Piston Race and simultaneously dealing with an exploit in one of their other projects. In the midst of juggling these challenges, they communicated in a transparent and competent manner, dealing with the extreme negativity that came from some users with calmness and patience.
This led me to get excited about their new project, the Piston Race.
The international Piston team consists of 19 people from 13 countries with varied experience and expertise in all areas of DeFi, web design, marketing and communication. Their obvious passion and commitment to the project, their accountability and relatability has created a welcoming and supportive community of investors in the Piston Race. They have a vibrant Telegram group with over 6000 members. Any questions posted in the group are quickly answered not only by the admins but also by other members of the group.
The public sale of the Piston token (PSTN) was an adrenaline-filled frenzy, within minutes of the launch, the token skyrocketed from $3 to $30 — and then suddenly the contract on PancakeSwap was paused, nobody could buy or sell! It was so exciting! Nobody knew if their was a fatal mistake in the coding or what was happening. Pure Wild West feeling!
And here again, I was extremely happy to have vetted the team beforehand. They communicated expertly, worked day and night and solved the issues. The lead dev, SeriousSam, insisted on taking his time to make sure that everything went smoothly instead of being rushed.
This is DeFi after all, these programmers are pushing the limits of our Crypto knowledge and daring into unknown territory — where no one has ever gone before — so sometimes things just go wrong. It’s all about how these situations are dealt with, in my opinion.
Everything went smoothly after that. The rest of the Crypto world was plummeting around us, wiping out hundreds of millions of dollars, Piston held strong. The Piston token did the usual pump after the launch, which in this case was a beautiful steady climb in price over almost six weeks. My favorite pastime was looking at the chart and watching my relatively small investment grow to be worth quite a lot of money.
Since then the price has started to steadily decline again (which is normal and nothing to be scared about). Compared to the rest of Crypto, Piston is holding strong! The price will probably find a healthy bottom and start to climb again, these are normal cycles.
The Piston team has created a very exciting roadmap and has been overdelivering on schedule since the launch. The whole theme of the project is built around car racing and there is even a NFT Play to Earn racing game being developed right now where we will be able to upgrade our cars with NFT parts, race each other, win Piston tokens and even sell our upgraded car if need be! Seeing an opportunity for a new form of income here, anyone?
Now if that’s not bullish!
General overview
Piston Race is a ROI (return on invest) dapp (decentralized application) on the Binance smart chain offering 1% daily return. It works like this:
- Buy Piston tokens
2. Stake those tokens in the „race“ by depositing them irretrievably into the Gas Tank on the Piston race website.
3. You now have 3 options: Do nothing, compound (aka NITRO), or withdraw your daily 1% rewards.
Mixing These Options Becomes a Strategy
There are three last pieces to the puzzle before I get into my personal strategy.
1. We can only compound our real investment up to five times (“real investment” is the amount of tokens we have deposited into the race not including Nitro — Nitro is simply reinvesting the daily 1% without withdrawing it). So, if we bought 100 tokens and put them in the race we can only compound them to 500 Tokens. Unless…. we deposit more tokens because then our “real investment” goes up, so of course the 5x is now 5x the new total “real investment”.
By the way, if we withdraw our 1% daily and then deposit the PSTN tokens back into the race instead of selling them this is also counted as a “real investment”.
2. We can only withdraw 3.65 times (365%) of our gas tank. Our gas tank holds the sum of all the tokens we have accumulated by depositing and clicking on Nitro.
Here we need to understand that clicking on Nitro is computed as a withdrawal.
3. We can only ever withdraw a total of 50,000 PSTN tokens per wallet. This means the optimal max Gas Tank is between 13,700 and 20,000 Tokens, depending on how quickly you want to reach you max payout.
I hope I didn’t make that sound too complicated because it is not.
Now that you know all the rules I can show you my strategy which might help to understand how it works.
My Basic Piston Race Strategy
1. Deposit x number of tokens into the Gas Tank — to make it easy let’s just say 100.
2. Compound (Nitro) every 24 hours for at least 4 Months = 1 PSTN on day one plus the effect of compounding every day thereafter.
3. During this phase I am also buying more tokens and depositing them into the race whenever I have a bit of extra cash or some other project has delivered BUSD or BNB that I want to deposit somewhere.
4. Once the BUSD value of my Gas Tank has reached 5,000, I will hit the Nitro button (re-compound) every other day and withdraw every other day. This will give me a passive income of about 750 BUSD per month while still growing the amount in my gas tank.
5. Once I have reached the maximum 5 times my real invest, I will change the strategy to accumulate tokens for one week, then withdraw and redeposit which will have the effect of growing my real investment. Every other week I will withdraw and sell the tokens.
6. I’ll still buy new tokens occasionally and deposit them into the tank to grow my real investment.
7. Warning: There is a cool competition running right now to win a NFT racing car when it comes out (check it out in the Telegram chat). My strategy might disqualify you from that because you need to hit the nitro 75% of the time to qualify and I am hitting 50% of the time after the first four months of straight Nitro. This might add up to 75% but I haven’t bothered to calculate that yet. I will though before it’s too late.
If you are interested in creating your own strategy, I suggest asking in the Telegram chat for the community calculator. It is a spread sheet in which you can play out different strategies and find the right one for you.
A Simple “How to Get Started”
1. Buying Piston Tokens
Piston tokens are available on BoggedFinance, Pancakeswap, and directly on the Piston website LINK. You save exchange fees by buying on the Piston website. You will need BUSD, BNB or a credit card to buy PSTN on the Piston website. The team at Piston has implemented an easy to use credit card function.
2. Depositing Piston Tokens Into The Race
This part is easy, just navigate to the “race” page, type the amount of tokens you want to deposit (pro tip: if you enter a token amount with max two digits after the comma then the gas fees are cheaper), click on deposit and after checking that the gas fees are acceptable sign the transaction on your wallet and voilà, you are in the race and earning 1% daily.
Congratulations, you’re in the race!
Taxes, Fees and Sustainability
All ROI dapps need a way to stay sustainable and not be a simple ponsi scheme. One way of keeping a protocol healthy is to take fees — generally called taxes — on all transactions made with the tokens. In the case of the Piston Race these taxes are:
Buy: On the Piston website: 0%. On an exchange or your wallet: 10%
Sell: 10%
Transfer between wallets: 10%
Reinvest/compound — aptly called “Nitro”: 3%
Claim (take your interest out): 10%
AirDrop (send tokens to another player): 10%
Here is a clear overview including what the taxes are used for
One of my favorite daily activities is to open my MetaMask wallet, connect to the Piston Race website, click on Nitro and watch my investment grow. I sip my morning coffee and allow myself to imagine a future where through the wonder of compound interest I can finance the lifestyle I feel we all deserve, one of abundance and less financial worries.
There is a lot more to write about on the Road Map. Also, I haven’t covered the whale taxes which are in place to stop people accumulating massive sums of tokens and dumping. Then there is the whole NFT Play to Earn aspect that is coming, which is an article in and of itself. And last but not least, there is a team building and referral system with casino and airdrop functions!! I haven’t gotten into the team building myself yet. If people begin using my referral link, I might just start my own team. If you are looking at getting into Piston yourself you should probably read the excellent white paper.
All of these features help to create a sustainable project that should last for years and provide many people with a passive income.
So see you here again or maybe even in the race!
If you enjoyed this article and got something out of it you are welcome to join the race using my referral link here:
https://piston-token.com/ref/cinimod
Caution: If you enter the race with my referral but you want to enter the team of someone else, then you’ll have to enter their referral code before depositing your tokens into the race as you can’t change teams later.
