It is our intention to treat all our community equally. This starts with Phase 1.
Token distribution starts on February the 22nd at block number 11907635. Round about 12pm UTC and will finish at block 12501221; we expect this to be 90 days later. Tokens are distributed every block. You can withdraw $LPOOL at any time with no forfeit.
Tokens that can be staked to earn $LPOOL are (only ERC20 versions):
1inch: 1inch.exchange ($1INCH) (max 2000)
Bondly: bondly.finance ($BONDLY) (max 27500)
Rune: thorchain.org (ERC20 $RUNE) (max 2200)
Uniswap: uniswap.info ($UNI) (max 500)
Polkastarter: polkastarter.com($POLS) (max 4000)
Sushi : sushiswap.fi ($SUSHI) (max 690)
ShareRing: sharering.network ($SHR) (max 500000)
Standard Tokenization Protocol: stp.network ($STPT) (max 350000)
PAID Network: paidnetwork.com ($PAID) (max 3100)
We have chosen these as we believe these communities are best placed to join, and be part of, our community.
APY is dependent on the price of our token $LPOOL and the Total Locked Value (TVL) in the pool. So we cannot know this prior to the pools going live.
The bigger the community the more weight (i.e. token distribution) the pool will have. However the distribution is relatively equal amongst these tokens.
There will also be two $LPOOL pools. One will be naked $LPOOL and the other will be a ETH/LPOOL uniV2 token pool, sometimes referred to as a pool 2. These two pools will have a greater token distribution than the other pools and thus their APY should mean they’re advantageous to be a part of.
The pools will be open for staking on Monday the 15th of February. This gives everyone plenty of time to get into position before distribution starts. There is no advantage to being in early, everyone will be treated the same. This is purely to ensure people don’t miss out, it’s as fair as possible, and you can mitigate the cost of gas by choosing a time when gas costs are relatively low (if there is such a thing!).
It is possible to stake a mixture of tokens; there is a limit of $USD 10k per wallet per token to deter whales. This has been based on prices on the 12th of Feb. Therefore you may find you can stake more or less than 10k depending on the recent performance of the token.
Before the end of the 90 day period we intend to launch our first projects. So even before the end of distribution there will be a use case for the token — how this works will be the subject of another article entitled Launchpool Staking Phase 2
Are tokens locked?
Tokens can be added and removed whenever you wish, staking is non-custodial — meaning they always remain under your control
Can POLS and PAID tokens be used in their ecosystems whilst staked?When a token is staked it is moved from your wallet to the staking contract, therefore it cannot be used to register in POLS or PAID at the same time as being staked
Does $LPOOL get sent to our wallets?
$LPOOL must be claimed from the contract after it has been accrued from your staking endeavour. You can simply do this by hitting the ‘claim $LPOOL’ button. There is no forfeit for doing this and it does not unstake your staked tokens. $LPOOL you have earned is then free to go and be staked in the $LPOOL pools!
Can I stake SHR BEP2 and Thorchain native tokens?
No, only ERC20 versons of the tokens can be staked