It’s the hottest question on everyone’s lips ahead of tonight’s Uniswap launch: how does staking work? What are the rewards? How long do we stake for? How many people can stake?
We have those answers for you — brace yourself, day one staking with Prophecy is GREAT!
When will day one staking be activated?
As the name suggests, we’ll be kicking off day one staking shortly after Uniswap launch (as simultaneously as we can humanly manage!).
When exactly is this? we’ve provided a ‘launch window’ of between 9pm and 1am UTC for 29 December 2020, so expect to see staking day one with Prophecy launched between these times.
We will communicate launch in our Telegram chat, so make sure you’re present and active for the launch window to be kept up-to-date!
Let me know all the staking details!
Okay, the juicy stuff you’ve all been waiting for!
The day one staking pool is a limited-time, limited-space stake pool, meaning you’ll have to enter fast to be in with a chance of securing a position.
This first staking pool will offer higher staking rewards than any other pool we offer (excluding super limited flash staking pools we have planned occasionally for 2021) so there’s a high bonus at stake!
Total day one staking pool size: 5,000,000 $PRY
Minimum stake: 1000 (one thousand) $PRY
Maximum stake: announced closer to launch (to prevent wallet splitting!)
Reward for your stake: 20% APR (example: 10,000 $PRY stake = +2000 $PRY reward at full maturity!)
Maturity (full reward): 3 month stake
Can I unstake at any point?
Yes! We have a feature we call ‘emergency unstake’ that will allow you to unstake your stake at any point in time (that’s a lot of stake!)
However, doing so will come at a penalty to your reward. Your initial stake will be untouched, that is always available.
What are the early unstake penalties?
Staking day one with Prophecy follows the industry standard for early unstake penalties, following a ‘drop-off’ value.
The earlier you unstake, the lower your reward value ontop of your initial stake is.
Unstake after 0–30 days: 0% of rewards
Unstake after 30–60 days: 25% of rewards
Unstake after 60–90 days: 50% of rewards
Full maturity (3 months+): 100% of rewards
Reminder: your initial stake will always be available and will always be untouched. These early withdrawal penalties apply to the bonus rewards added to your stake. Remaining staked until full maturity results in the full 20% reward ontop of your initial stake.
We’re hoping for as smooth a launch as possible with all developer and admin hands on deck! However, if demand is unprecedented, please bare with us while we iron our wrinkles and ensure this works perfectly for everyone.
The day one staking pool will be limited, and once its full, its full for good, so act fast!
Thank you all for your support and hype, we can’t wait to get launched!
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Prophecy official contract address: 0x3c81d482172cc273c3b91dd9d8eb212023d00521
