Lets start with an overview…
SmartRewards are a price stabilization mechanism and a way to encourage long term holding. Long term holders are key to the project’s success since the SmartHive treasury needs SmartCash to appreciate in value in order to fund meaningful 3rd party proposals and help grow SmartCash into a successful global crypto-currency. Each wallet address holding at least 1000 SmartCash will get paid each 30 days on the 25th and the snapshot for the next month will happen at the same time. The SmartRewards will come out of the 15% block reward allocation.
Here is a small example: if you buy SmartCash on the 24th, you’ll have to wait until the next month to get paid, which is around 30 days, however if you buy on the 27th, after the snapshot date, you’ll have to wait around 60 days to get paid.
These payments will take place at around 7 UTC, on the 25th of each month.
All users need to move funds into addresses holding at least 1000 SMART before the snapshot to be counted.
If you spend ANY amount from an address, it will be ineligible for SmartRewards until the next round.