We kept you all waiting long enough. It’s time for you all to know what we’ve got planned for our staking platform with Ferrum Network, in addition to what we’ve got for TosDis too.
First of all, we’re dividing our staking with Ferrum Network into 3 stages. One is super profitable and has great APY returns, but will end within 6 months due to how unsustainable it would be. The second lasts for 3 months with a smaller APY, and the third and last will be our permanent staking return rate. Here’s what’s happening:
◘ Stage 1 Staking:
This staking stage will last for 6 months after we launch our staking platform with Ferrum Network, meaning that if you lock your tokens and stake with us within that 6 months time-frame, you will be eligible to the APY returns of this stage in particular. These are the available lockups and APY rates for it:
- 45 DAYS: 50% APY
- 3 MONTHS: 100% APY
- 6 MONTHS: 150% APY
- 12 MONTHS: 200% APY
◘ Stage 2 Staking:
This staking stage will last for 3 months after six months of our Ferrum Staking platform launch, and you will have that time-frame for staking and locking up your tokens to be eligible for the APY returns of this stage before it ends. Here are the details for stage 2:
- 45 DAYS: 25% APY
- 3 MONTHS: 50% APY
- 6 MONTHS: 75% APY
- 12 MONTHS: 100% APY
◘ Stage 3 Staking:
For this stage, staking rules and APY rates will be permanent. They are prone to change, but for the better, and in the likelihood of DANK reserves for staking running out, we’ll start utilizing MUU staking for this purpose instead. Here are the details for stage 3:
- 45 DAYS: 10% APY
- 3 MONTHS: 25% APY
- 6 MONTHS: 35% APY
- 12 MONTHS: 50% APY
With this being said, here are the pools that will be made available for DANK holders who want to stake using Ferrum Network:
- DANK-DANK
- DANK-MUU (Will be made available later on)
- MUU-DANK (Will be made available later on)
We’re also going to have staking with Ferrum Network be based on rounds. During the first 6 months of stage 1, we will have a total of 3–4 staking rounds. In the second round, staking DANK-MUU will be made available as we’ll cover more information surrounding that token in particular.
- Penalties & Minimum DANK:
If you need to take out your locked tokens while having them in a pool, you can still take some of your rewards under the condition of having met at least 50% of the locking duration. For instance, if you lock your tokens for 12 months and decide to unlock them, you can retain 20% of your rewards if your staking lasted for at least 6 months. If you stake for less than 50% of the duration, the penalty is far more severe, as you stand to gain 0% of your rewards.
We will soon announce the details on the exact date when our staking goes live with Ferrum Network and TosDis and also the minimum entry required for each lockup. Keep an eye out, ladies and gents, and remember… stay awesome. ❤
