$PIXL Single Sided Staking
The $PIXL Single Sided Staking Protocol is a DeFi protocol that allows users to earn additional PIXL rewards by staking their pre-existing $PIXL tokens to the smart contract.
The single sided staking protocol generates rewards on a block by block basis (as ETH is mined at the crypto level) for users of the protocol. These rewards are based on a deterministic function balancing your contribution versus the overall pool of $PIXL staked by all users and rewards you with a percentage of each total block reward generated over the duration of your time staked within the protocol combined with any Yield Enhancing NFTsο»Ώ that were staked alongside it..
A total of 60 million $PIXL tokens will be distributed to stakers through a 1 year duration single sided staking contract (26 two week epochs) - these rewards are linearly distributed over the course of the year. Note that the reward pool may be extended after conclusion of the twelve months depending upon the econometric circumstances within the in-game token economy.
This protocol is fully flexible and has no time locked constraints. This means that you are free to withdraw any $PIXL you stake to the single sided platform at any time you wish with no penalty. Rewards generated through the protocol however are subject to a vesting schedule as described in DeFi Protocolsο»Ώ, with long term stakers rewarded with larger percentages of unlocked $PIXL vs vested $vPIXL compared to early withdrawers - this unlock schedule is detailed below.
Long term stakers may also find that they qualify in the future for additional discretionary rewards within the Pixlverse ecosystem - these rewards will be very diverse but as an example may encompass free Pixlverse NFT claims and/or whitelist access to upcoming protocol launches.Β
The protocol is very easy to conceptualize and even easier to use through our beautifully designed web based UI - there will also be the ability to access the protocol using your in-game avatar within the Pixlverse upon game launch.
Step by step guide walking through the process on a conceptual level:
- Users will have $PIXL available in their ETH wallet - this is harvestable if you have a staked Sappy Seal, or alternatively you can obtain some via Sushiswap or other popular DEX's
- Users will choose an amount of $PIXL they would like to stake to the single sided staking protocol
- Users will stake this amount of $PIXL to the smart contract
- Based on your contribution to the overall amount of $PIXL staked by all users of the protocol, you will begin accruing rewards on a block by block basis
- Example 1:
- Lets assume ten users have staked $PIXL in equal amounts to the staking contract
- All users will recieve 10% of each block reward over time
- Example 2:
- Lets assume two users have staked $PIXL
- User A contributes 20K $PIXL and USER B contributes 80K $PIXL
- These users would share each block reward on a proportional basis
- i.e. User A recieves 20% and user B recieves 80% of each block reward over time
- Users can claim their rewards whenever they wanted - claimed rewards will be subject to a locking schedule based upon the block in which they choose to claim as detailed below
- The longer you wait to claim the higher the proportion of unlocked tokens recieved
- All locked $vPIXL tokens will begin converting to $PIXL at the end of the staking contract and vest linearly over 6 months following this
- At any point in time users can unstake their $PIXL from the staking protocol - all remaining accrued rewards will be claimed automatically at this point in time
An epoch is a unit of time that we have designated to be roughly two weeks long, but will vary slightly based upon the speed at which underlying blocks are mined on the Ethereum network. (1 Epoch = ~84000 blocks)
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