The staking system allows you to deposit a certain amount of tokens and earn rewards for doing so. For now, you can stake your SHIBAI, SHIBAI/WETH LP and OG NFT to earn SHIBAI. This process is encapsulated by three fundamental actions:
This action enables you to transfer tokens from your wallet to the staking pool, thus making you eligible for accumulating rewards. These rewards are determined each block and depend on your total deposit and the collective deposit of all stakers.
This action facilitates the extraction of a specific amount of tokens from the staking pool.
This function allows you to transfer accumulated rewards to your deposited amount, thereby increasing your stake.
Upon depositing, your tokens are locked for 30 days automatically. When the timer hits zero, you have the option to withdraw, but you will continue earning rewards regardless.
Depositing also triggers the delivery of pending rewards to your wallet. Similarly, withdrawing prompts the transfer of pending rewards to your wallet.
An Emergency Withdraw feature is available, enabling you to reset the timer to zero and retrieve your deposited amount, excluding the pending rewards. This action incurs a 5% fee. Following an emergency withdrawal, the pending rewards are added back to the reward pool, thereby enhancing the rewards for all active stakers.
The Compound feature is recommended when the total value of pending rewards is at least three times the gas fees required for compounding.
The reward allocation depends on the number of users staking:
Fewer stakers lead to larger rewards. More stakers result in smaller rewards. The reward ratio per block is fixed and distributed amongst all stakers. The staking pool updates with each user interaction. A significant influx of stakes, often from a "whale", may result in a temporary slowdown in pending rewards. This slowdown represents the staking system's self-regulation of the Annual Percentage Yield (APY). The APY is influenced by factors such as your total deposit, the frequency of compounding, the number of stakers, and the fixed reward ratio.