$GUILD Staking is LIVE!
Lock your $GUILD tokens for juicy staking rewards.
We love diamond hands 💎🙌.
Following our token launch, we are preparing to open our first staking campaign, which is designed to reward long-term $GUILD holders who will be joining us on the journey ahead, as we build the infrastructure for efficient guild management, a financial system for play-to-earn gaming communities, and the world’s first guild data bank.
We are launching the long-term staking campaign first in accordance with the results of our Twitter poll conducted on December 14 where out of 1,067 votes 42.8% of you voted you would like to stake your $GUILD for 12 months or longer.
See the tweet here.
Access staking via https://www.blockchainspace.asia
Start Date: December 15, 2021, 13:00 UTC
Duration: Flexible or Locked up to 52 weeks
Rewards: Rewards are locked for 52 weeks
Type: Single Asset / Liquidity Pool
IMPORTANT NOTE: The 52-week countdown for withdrawing Locked Rewards only starts after you “Claim” your rewards. This means that if you do not “claim” your tokens, the 52-week countdown will not begin. Every set of claimed token rewards will also have their own countdown timer.
Our staking program will give the BlockchainSpace community a way to reap exclusive benefits. This post will unpack everything you need to know about staking $GUILD tokens using this vault. The following paragraphs will explain how we calculate the rewards:
Except for locked and vested tokens, all token holders will have the opportunity to pledge their tokens in two different vaults:
$GUILD — Single Asset Pool
This pool will receive 20% of the liquidity mining rewards that are allocated to this staking vault. You stake $GUILD here only.
$GUILD:USDC — Liquidity Provider Pool
This pool will receive 80% of the liquidity mining rewards that are allocated to this staking vault. You stake $GUILD:USDC Uniswap LP tokens here.
For both our staking vaults, you have the option to choose the lockup period of the initial capital you are providing. The options are:
1. Flexible — No lock-up for your initial staked tokens.
Your rewards will be locked up for 12 months from the moment that you ‘claim’ them.
2. Locked — Initial staked tokens can be locked from 1 week to 52 weeks.
The weight of your rewards will increase incrementally depending on the number of weeks you choose to lock your tokens, with 52 weeks being the maximum. The longer you lock-up your $GUILD tokens, the higher the share of rewards you will receive.
See below for an example of how this works. We calculated the differences (weights) between selecting a flexible lock-up, for six months, for nine months, and for a year:
Staker 1: Doesn’t want to lock the underlying tokens and therefore gets a weight of 1
Staker 2: Locks the $GUILD tokens for 6 months and therefore gets a weight of 1.5
Staker 3: Locks the $GUILD tokens for 9 months and therefore gets a weight of 1.75
Staker 4: Locks the $GUILD tokens for 12 months and therefore gets a weight of 2
1(Standard weight) + x/12 (where x is the amount of months locked)
= time-weighted ratio being used
TL;DR — The longer you stake and lock, the more rewards you shall receive.
Step-by-Step Instructions for Staking $GUILD
(1) Visit the staking portal.
Head over to BlockchainSpace’s website and click “Staking”. This will redirect you to our staking vault where you will be able to see real-time information about $GUILD staking pools, such as the total amount that has been staked.
(2) Connect your wallet.
Click “Connect” in the top right corner. You will have a few wallet choices to choose from, Metamask or WalletConnect.
(3) Select the staking pool that you would like to participate in.
Once your wallet is connected, you’ll be able to click the “Stake” button for either GUILD — Single Asset Pool or GUILD:USDC LP — Liquidity Provider Pool and begin earning rewards.
Alternatively, if you are not holding GUILD tokens or GUILD:USDC LP tokens you can click the “Buy” button which will redirect you to where to get GUILD or GUILD:USDC LP tokens.
IMPORTANT NOTE: For those looking to stake Uniswap $GUILD:USDC LPs, our liquidity pool is on Uniswap’s V2 Pool
(4) Select your staking duration.
Our $GUILD staking program offers flexibility to all liquidity providers. You’ll be able to define how long your tokens will be part of the staking pool. Rewards vary based on duration and type of staking pool.
(5) Approve the transaction.
Click “Approve” to approve the contract. This involves a fee in ETH before you finalize your staking. A prompt from your wallet will appear, and you’ll have to authorize the transaction. The confirmation process may take a few minutes, depending on activity on the Ethereum network.
(6) Stake your tokens.
Once the contract is approved, you’ll have to perform a second transaction to stake your $GUILD tokens. You need to input the total amount that you’d like to stake. Then, click “Stake.” A new prompt from your wallet will appear, and you’ll have to authorize this transaction too. Review the details and gas fees. If everything looks right, then confirm the transaction and you’re all set! Your rewards will begin to accumulate once the Ethereum network validates your transaction.
Claim Your Staking Rewards
To claim rewards head over to the “Rewards” tab at the top of the staking page. Claiming your rewards works in the same way as staking. Search for the pool that shows a positive balance in the ‘Claimable Rewards’ column.
Start by pressing ‘Claim’ which will bring up a MetaMask prompt (or WalletConnect) where you have to confirm the transaction. Please review the details and the gas fees before confirming your transaction.
Once you ‘Claim’ your rewards, your rewards enter a 12 month vesting period after claiming. Staked tokens are currently non-transferable and only used for accounting purposes. A countdown for when your rewards can be withdrawn from the Locked Rewards vault is shown at the bottom of the Rewards page.
Please note BlockchainSpace’s staking vault is in alpha and our audit is on-going. Although the team has reviewed the code several times internally it is important to always do your own research and understand the risks.
BlockchainSpace enables play-to-earn guilds to scale in the metaverse. We build tools to empower gaming communities and run academies to identify economic opportunities in games. Our aim is to embolden the next generation of play-to-earn gamers and guild owners to become successful entrepreneurs by equipping them with essential digital tools and financing to scale.
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