OXY staking programme will launch on 22/04/2022 (22nd April 2022)!
Staking is a way to earn rewards by committing to holding your OXY tokens for a certain period of time. It involves “locking up” tokens, ie taking them out of circulation, and getting additional tokens as a reward. OXY Ecosystem will reward its committed supporters from the OXY Community Fund.
Let’s talk about some of the key points of the Oxygen staking programme.
How long do you need to stake my OXY for?
A minimum of 7 calendar days, a maximum of 2 years, or anything in between. After the staked period has finished, you can unstake your tokens any time with a 7-day notice period.
Rewards for staking
Staked tokens will receive a base of 6% staking rewards per year. 3% will be paid out as unlocked OXY, and 3% as locked OXY (in line with the unlock schedule in Oxygen Whitepaper).
Boost rewards by committing for longer
OXY Ecosystem will reward more its long-term supporters through “duration boost”.
The welcome staking reward rates will be as per below:
- 7 days > 6% per annum (base)
- 3 months > 7%
- 6 months > 8%
- 9 months > 9%
- 12 months > 10%
- 18 months > 12.5%
- 2 years > 15% per annum (max boost)
It’s important to note that offered rewards are subject to change at any time by OXY token holders. The “welcome” parameters only reflect how things are right now.
How to participate in staking
There will be a number of ways to participate in this overtime, on and off-chain.
We are working with a number of exchanges and custodians on making it available. We are also cooperating with Kudelski on the on-chain staking implementation and security audit.
We will provide more detailed instructions regarding what to do closer to the launch date.
