<aside> 💡 Polyhedra Network is thrilled to announce an exciting staking event with a maximum staking period of one year (52 weeks), commencing on July 15, 2024. Participants can stake Polyhedra's native tokens to accumulate Staking Power, which entitles them to rewards.

Official Staking Website: https://stake.polyhedra.foundation/ Polyhedra Network Token Smart Contract Address: 0xC71B5F631354BE6853eFe9C3Ab6b9590F8302e81

</aside>

Introduction

Participants can stake Polyhedra's native tokens to accumulate Staking Power, which entitles them to rewards. Rewards will be calculated and distributed every Thursday at 00:00:00 UTC based on the ratio of each user's Staking Power to the total Staking Power by all users.

<aside> 💡 Friendly Reminder: Rewards will be calculated and distributed at 00:00:00 UTC every Thursday (please note that this process, which involves snapshotting Staking Power and updating the on-chain Merkle Root, may take approximately 2 hours). The rewards for the next period will be announced on the same day.

</aside>

Acquiring Staking Power

1. Overview of Staking Power

   • Staking Power is obtained by staking the Polyhedra Network tokens. Staking Power cannot be traded or transferred.
   • The balance of Staking Power is directly proportional to the quantity of Polyhedra Network tokens staked and staking duration. The balance will decrease over time until it reaches zero at the end of the staking duration, at which point the staked Polyhedra Network tokens can be unlocked.

2. Staking Rules:

   • Staking Duration:

     • Cycle Description: A staking cycle runs from each Thursday at 00:00:01 to the next Thursday at 00:00:00.
     • Minimum single staking duration: 1 week (604800 seconds)
     • Maximum single staking duration: 52 weeks (31449600 seconds)
     • Minimum unlocking time: When the currently selected staking time is less than 1 week (604800 seconds) from the start time of the next cycle (00:00:01 UTC next Thursday), the minimum unlocking time is the next unlocking time (00:00:00 UTC next Thursday) + 1 week (604800 seconds).

     <aside> 💡 Friendly reminder: Users can adjust their staking period according to their financial plans, ensuring that the single staking period is greater than or equal to 1 week and less than or equal to 52 weeks.

     </aside>

   • Number of Stakes:

     • Within the staking duration, you may extend the staking time or increase the number of Polyhedra Network tokens staked to increase your Staking Power.

3. How is Staking Power calculated?

   $$ \it{Staking\ Power} = \frac{ \it{position.amount} \times (\it{position.expiry} - \it{block.timestamp})}{ \it{max\_lock\_time}} $$

   • max_lock_time: A constant that equals to 52 Weeks (31449600 seconds)
   • position.amount: Quantity of Polyhedra Network tokens staked
   • position.expiry: Timestamp of the unlock time (in UTC)
   • block.timestamp: Timestamp of the calculation moment (in UTC)

4. For example, Staking 1 Polyhedra Network token for one week. If the current time (block. timestamp) = 1, what is the initial Staking Power obtained?

   • max_lock_time：31449600 seconds (52 Weeks)
   • position.amount：1
   • position.expiry：1209600 (Since the current block.timestamp=1, the start time of the next cycle is 604800, which is less than 604800, so the unlocking time is 1,209,600(604,800 + 604,800).
   • block.timestamp：1

   $$ \begin{equation*} \begin{split} \it{Staking\ Power} & = \frac{ \it{position.amount} \times (\it{position.expiry} - \it{block.timestamp})}{ \it{max\_lock\_time}} \\ & = \frac{1 \times (1209600 - 1)}{31449600} \\ & = 0.004120847323972\end{split}\end{equation*} $$

Earning Rewards

1. Rewards include: Rewards will be calculated and distributed every Thursday at 00:00:00 UTC, with the announcement of the next period's rewards.

2. Reward Distribution:

   • Timing: Upon acquiring Staking Power by staking Polyhedra's Network tokens, rewards are allocated weekly on Thursdays at 00:00:00 UTC during the staking period. The reward will be calculated based on the proportion of Staking Power held.
   • Claiming: Rewards must be manually claimed via smart contract interactions to transfer them into the wallet each period. Unclaimed rewards accumulate and remain until claimed.

3. Reward Calculation:

$$ \begin{equation*} \begin{split} \it{User’s\ Reward} & = \frac{ \it{User’s\ Staking\ Power\ at\ snapshot}}{ \it{Total\ Staking\ Power\ at\ snapshot}} \times{\it{Total\ Rewards}}\\ \end{split}\end{equation*} $$

4. Cost Description:

The following gas fees are calculated based on Ethereum network’s Gas Price = 10 gwei. (Gas Price fluctuates frequently)

• Exchange Withdrawal/Transfer Fees
• Staking fee: 0.0009ETH/time
• Reward claiming fee: 0.0007ETH*n/time

FAQ

Q1: Is staking limited to a 52-week period? Can I choose different staking cycles?

Answer: No, staking is not restricted to a 52-week cycle. Users have the flexibility to select any staking period between 1 and 52 weeks. The maximum staking period is 52 weeks, and the minimum staking period is 1 week. Users can choose any duration within the 1-52 week range as their staking length.