๐งSoy Staking V1 (Obsolete)
Soy Finance launches Soy Staking, a simple and safe way to earn passive income while holding SOY tokens.
Sloth Tip
Don't put all your SOY tokens into staking; some great projects are getting ready for SOY Launchpad. ๐ฆฅ
The SOY Staking Pool
The SOY staking pool enables the holders to stake the SOY tokens they have purchased, swapped, earned by farming, or participating in an airdrop/referral program.
Featuring a 36x multiplier, the SOY staking pool is designed to be the most profitable staking pool in the DeFi ecosystem.
Just freeze your SOY tokens and receive rewards at the end of the staking period. Easy peasy!
SOY Staking's APR is subject to constant change due to the fluctuation of pool size.
Soy Staking Advantages
Earn rewards with one token.
No minimum nor maximum amount.
No risks of impermanent losses.
Never hacked nor compromised, Cold Staking is safe since 2018!
Soy Staking Characteristics
SOY Staking contract address: 0xeB4511C90F9387De8F8945ABD8C803d5cB275509.
Soy staking pool mulitplier: 36x*.
Freezing periods: 27 days and up**.
The contract does not allow anyone to withdraw staking deposits except the staker who deposited tokens to the contract.
*The multiplier refers to the amount of SOY tokens the staking pool receives per block.
**As we anticipate deploying Soy V2 staking, we have established a staking end date of October 2, 2022, at 00:00 GMT.
Therefore, the smart contract will reject any attempt to launch staking ending after that time.
Soy Staking Rules
CLO coins are required to pay the transaction fees.
Stakers only earn interest for completed rounds and the period initially set.
Staking reward is calculated only for the completed round interval. If a staker withdraws its staking deposit after 30 days, he will receive a reward only for 27 days (a round).
Adding funds to an active stake will reset the rewards. It is therefore recommended to add funds at the beginning of a round.
Soy Staking Multiplier
Soy staking takes advantage of the โmultiplierโ concept to maximize the long-term investor's reward.
The multiplier is proportional to the number of rounds set by the staker. The more rounds, the greater the "multiplier" and the greater the reward.
The minimum value of the โmultiplierโ is set to โ0.5โ for 27 days (a round).
The user can increase the multiplier by selecting more rounds (โ0.1โ per additional round).
The maximum value of the multiplier canโt exceed โ1โ.
The value range of the โmultiplierโ is between โ 0.5 and 1 โ.
Below is a table showing multiplier value according to the number of rounds set by the staker.
Soy Staking Formula
The following formula determines the staking reward:
Where:
StakerWeight โ the weight of stakerโs deposit;
StakerDeposit โ the amount of stakerโs deposit;
StakingPeriod โ time interval while deposit is frozen on staking;
TotalStakingWeight โ the sum of all stakers weight;
StakingRewardPool โ available amount for rewards payment;
BaseStakerReward โ the base amount of reward that the staker may receive. StakerMultiplier โ in the range [0.45 โ 1], depends on the number of rounds that CLO was staked at the beginning.
StakerReward โ the reward that the staker will receive.
About Cold Staking Protocol
Soy Staking is based on Cold Staking, a protocol developed by Callisto Network and launched in 2018. At the time of writing, as much as 50% of CLO's supply is frozen in Cold Staking, which shows how profitable and safe it is.
A detailed description of CLO Cold Staking is available here.
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