Our staking system provides two major benefits to participants. The first is a generous APY whereas the second is a multiplier to the odds of winning IDO moon tickets — both of which increased by committing to a longer staking period.
Terms, Requirements, and Details
To help clarify some of the key points surrounding the new staking mechanism, we have separated out the key information.
Minimum stake amount: None. You can stake as few or as many PAID tokens as you wish.
Minimum unstake amount: None. You can unstake everything at once, or just a fraction of your staked tokens, any penalties will only apply to the unstaked amount.
Moon tier: Any wallet with at least one stake of a minimum of 1000 $PAID tokens is eligible to receive a single lottery ticket per every 1000 staked $PAID tokens. No complete or partial lottery ticket will be granted for total or remaining balances of less than a thousand (1,000) staked $PAID tokens. Stakes on a single wallet are not combined for moon tickets. Each stake is treated individually in order to allow for any moon multiplier bonuses from long-term staking.
Unstaking period: A 10-day unstaking period will apply, during which no rewards will be accumulated. Tokens that are in their 10-day unstaking period won't count towards the IDO's. Once this 10-day period has elapsed, you can withdraw your tokens to your wallet.
How the APR is calculated: Interest is calculated every 24 hours. The APR ranges between 5% and 60% based on the length of the time the stake is committed and the number of years elapsed. Everyone who commits to staking long term will benefit from a 15% APR in year one, and those who stake two or more years would then get 25% in year two, and so on (up to 60% by year 5).
Long-term staking intervals: Users can elect to stake their PAID tokens for 1 to 5 years, in 1-year intervals.
Staking frequency: Any wallet can stake as many times as they would like. Each stake is unique — you can have a mix of short (undefined period) and long-term stakes if you wish.
Unstake penalties: An unstaking penalty will apply only when staking on a long-term period. We burn only based on the amount being unstaked. On the Preview Unstake window, you can preview your penalties, if any.
Max burn is 80%. The percentage decreases linearly each day.
Burn % = 0.8 x (A-B)/A. Where A = total number of committed days and B = number of days from stake to unstake request.
As for an example for a user who committed to 1 year staking period (365 days) and now wants to unstake after 30 days:
Burn % = 0.8 x (365-30) / 365 = 73.42%
In this case, we would burn 73.42% of the tokens the user requests to withdraw which can be just a portion of the total amount staked.
Reward tokens are not subject to burn when withdrawing rewards. If rewards are also staked, however, they will be added to the staked amount and will therefore be subject to the same benefits and penalties.
Reward withdrawal penalty: None. There are no penalties for withdrawing staking rewards.
Reward staking: Rewards can be directly staked within the platform, with no need to withdraw first. These tokens are added to any other staked balance or can be staked alone if the principal has already been withdrawn.
Lottery: Staked tokens will count for all lotteries you join on Ignition, provided you have followed the lottery rules. $PAID tokens that are staked on Apollo-X or other staking platforms will not be eligible for PAID Ignition lotteries. Applicants wishing to include staked tokens must unstake them and restake them through Ignition’s native staking platform.
How do I stake my PAID tokens?
Go to https://ignition.paidnetwork.com/staking, log into your account, and connect your wallet. Make sure your KYC has been approved in order to receive the Moon Ticket Multiplier bonus.
Click on ‘Stake PAID’
Click ‘Next’ button.
Choose your staking period
Enter the number of tokens you want to stake or move the slider to reflect the number of tokens you want to stake.
Click on ‘Next’
Your wallet will prompt you to confirm you are giving permission to spend your PAID.
You will see a transaction processing message
Click ‘Stake $PAID’
Your wallet will prompt you to confirm.
Congratulations, you have now staked your PAID tokens.
Your stake will now available under the 'My stakes' heading.
How can I stake my rewards?
- Open the action menu by clicking on the blue button
- Click on ‘Stake rewards’
Click on ‘Stake rewards’
Your Metamask will promt you to confirm this transaction