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Token Staking Information
Aurox Staking Contract
Users can stake their Aurox tokens at anytime. Simply by purchasing the tokens on Uniswap, and then locking up their tokens into the ASC (Aurox Staking Contract), they'll be able to earn more Urus tokens.
Users who enter a ASC can’t withdraw the rewards until the end of the contract. If a user closes the contract before its end, they will be charged a penalty on the deposited tokens. The tokens will be rerouted and given as rewards to other stakers who did not close their contract early.
This is works out as follows:
- The fee will be calculated depending on the percentage of the completion of the stake.
- For example: if they locked in their tokens for 1 year (12 months), but closed the contract in 1 month. They only completed 8% of their original contract and therefore, 46% of the principal tokens in the contract will be deducted as a fee. (Max deduction fee is 50%)
- The penalty fee will be redistributed equally to everyone with an open staking contract.
Distribution of the tokens after the staking contract has ended will be over a course of 2 weeks.
- For example, if the user locked in their tokens for 1 year, and after 1 year, the contract ends. The user will be able to withdraw their tokens over a course of 2 weeks, or they can withdraw it all after the entire 2 week period is up to save on gas fees.
The user will be able to select staking in increments of 1 month. Therefore, if a user would prefer, they can decide stake tokens for 1, 2, 3, 4, 5, etc.. months. This can be done for up to a maximum of 7 years.
The amount of tokens rewarded to users who participate in the Aurox Token Staking Contract is calculated based on the number of months the user locks in their Aurox Tokens. The formula to calculate this will be:
- 1.Reward token percentage per year = month * 0.5
- 2.Maximum of 20% rewards per year
- 3.Maximum of 7 year staking.
- 4.For example, if a user locks in 10,000 Aurox tokens for 12 months, they will receive an additional 600 tokens.
Yield miners will also have the ability to earn bonuses on the tokens they generated via the staking contract. Users can stake their yield reward tokens into a ASC. This will allow them the opportunity to earn even more Aurox Token rewards than just the stakers.
There is a maximum of 200,000 Aurox Tokens available to stakers. The Aurox Tokens are reserved into the smart contract when a stake executes, meaning it will be on a first come first serve basis. Once all the tokens are reserved, the staking contract will no longer be available.
We might in the future deposit more Aurox Tokens into the staking contracts from marketing and/or company reserves