Staking in Timelockers serves as a liquidity provider for GEN.
Gate Keeper and Fever Staking offer a unique staking system in Timelockers by combining the roles and functions of existing DeFi platforms.
- Gate Keeper is the default role given to those who participate in GEN Staking. By staking GEN, users can obtain voting power (VP), staking rewards, Chat SDK subscription, Timelockers transaction Fee discounts, SBT issuance, and the ability to create Group Channels within the Timelockers platform. Gate Keeper is responsible for activating Chat SDK and connecting communities and platforms to 3 Seconds Club and Timelockers, and accordingly, receives benefits and privileges.
- Fever Staking is a special staking service available to Gate Keepers, which offers significantly higher interest rates than regular staking. The lower the initial Fever Staking quantity, the higher the non-linear APY. ＊Fever Staking is different from regular staking in that it requires certain conditions to be met before activation. The activation conditions are determined through voting after the initial Fever Staking system is opened.
- 1.When GEN is staked in Gate Keeper, 1:1 ratio of Voting Power (VP) is generated and the holder can participate in Timelockers governance voting with the VP they possess.
- 2.Gate Keeper receives GEN rewards as Staking interest, and 2% of Generation Product Escrow and Lottery profits are paid to Gate Keeper after monthly settlement, calculated based on the duration and quantity of Staking maintained after the monthly settlement.
- 3.Depending on the Staking quantity, VIP grades are divided, and Generation Product Escrow transaction Fee discounts are provided according to the VIP grade.
- 4.Fever Staking participation, Group Channel creation, Voting, and SBT issuance rights are granted.
- 5.When a user unstakes, they lose the benefits of participating in VP and Fever Staking and stop receiving GEN rewards.
＊The benefit and authority of a Gate Keeper are maintained when staking 100 GEN or more in Gate Keeper.
- Gate Keeper must maintain a minimum of 100 GEN in staking to receive their role and benefits.
- Gate Keepers can participate in Fever Staking with stGEN they have acquired.
- Fever Staking offers a higher APY than Gate Keeper Staking.
- The APY provided is non-linear and depends on the staked amount of stGEN. (APY = Reward / Staked GEN)
- 1.Users who stake a minimum of 100 GEN in Gate Keeper Staking can participate in Fever Staking.
- 2.Fever Staking involves staking with stGEN tokens and receiving rewards in GEN. Rewards are calculated every block and paid out when claimed.
- 3.stGEN exchanges GEN for stGEN, and the exchanged GEN is burned. (GEN and stGEN are exchanged at a 100:1 ratio)
- 4.stGEN Earn Process When a user executes swapGenForStakingGen(), the amount of GEN to be swapped is burned to the null address 0xffffffffffffffffffffffffffff, and stGEN is awarded at a ratio of 100:1. 100 GEN: 1 stGEN
- 5.stGEN Reward - The higher the stGEN staking amount, the lower the APY, and the lower the staking amount, the higher the APY. - APY = Reward / Staked GEN