Staking
Token Overview
stCOLEND is created when COLEND token is staked on the platform. It is an ERC-20 token used for voting on emission directions and earning rewards.
Key Features:
Voting Power: stCOLEND holders can vote on liquidity mining allocations.
Earnings: Holders earn interest from the market they vote for and receive bribes.
Interest Distribution: Interest is distributed proportionally to voters in each epoch.
Conversion Process:
Staking: COLEND can be staked to create stCOLEND at a 1:1 ratio instantly.
Redemption: When converting stCOLEND back to COLEND, a redemption period is selected. The conversion ratio improves over time, from 50% (after 15 days) to 100% (after 9 months).
Flexible Unstaking: During the unstaking period, stCOLEND can still be used for voting and earning, but only at 50% value. The process can be canceled at any time, returning the stCOLEND without converting it to COLEND.
Conversion Ratios:
Unstaking Period | Conversion Ratio |
---|---|
1 Month | 52.9% |
2 Months | 58.8% |
3 Months | 64.7% |
6 Months | 82.4% |
9 Months | 100% |
Equation for Conversion Ratio :
Example : Alex decides to stake their 500 COLEND tokens on the platform. After participating in voting and earning rewards, Alex wishes to retrieve their tokens after a 6-month unlocking period.
According to the unlocking period table, the conversion ratio for a 6-month period (180 days) is 82.4%. Alex will retrieve 412 COLEND tokens in exchange for their 500 stCOLEND tokens.
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