Day One Staking with Prophecy Explained
After launching on Uniswap, we will be launching staking day one for Prophecy — allowing our supporters to earn bonus tokens for very little/ no effort!
It’s the hottest question on everyone’s lips ahead of tonight’s Uniswap launch: how does staking work? What are the rewards? How long do we stake for? How many people can stake?
We have those answers for you — brace yourself, day one staking with Prophecy is GREAT!
When will day one staking be activated?
As the name suggests, we’ll be kicking off day one staking shortly after Uniswap launch (ideally within the first 24 hours of launch, but with a stretch of 36 hours).
When exactly is this? We’ve provided a ‘launch window’ of between 9pm and 1am UTC for 29 December 2020 for our Uniswap listing, so expect to see staking day one with Prophecy launched 24–36 hours after this launch.
We will communicate launch in our Telegram chat, so make sure you’re present and active for the launch window to be kept up-to-date!
Let me know all the staking details!
Okay, the juicy stuff you’ve all been waiting for!
The day one staking pool is a limited-time, limited-space stake pool, meaning you’ll have to enter fast to be in with a chance of securing a position, with a mandatory 3-month stake duration to reap the highest rewards we offer!
This first staking pool will offer higher staking rewards than any other pool we offer (excluding super limited flash staking pools we have planned occasionally for 2021) so there’s a high bonus at stake!
Total day one staking pool size: 5,000,000 $PRY
Minimum stake: 1000 (one thousand) $PRY
Maximum stake: announced closer to launch (to prevent wallet splitting!)
Reward for your stake: 20% APR (example: 10,000 $PRY stake = +2000 $PRY reward at full maturity!)
Maturity (full reward): 3 month stake (mandatory 3 month stake for the first higher-reward pool)
Can I unstake at any point?
For our V.2 staking, we are implementing a feature we call ‘emergency unstake’, where — for the lower tier pools than this initial higher-reward pool.
For the first ‘day one’ pool, the higher tier reward staking pool, we will implement a mandatory 3-month staking lock on these tokens due to the much higher reward received.
So in short, yes! We have a feature we call ‘emergency unstake’ that will allow you to unstake your stake at any point in time (that’s a lot of stake!) from staking v.2 onwards!
However, doing so during staking v.2 onwards will come at a penalty to your reward. Your initial stake will be untouched, that is always available.
What are the early unstake penalties for staking v.2?
Staking v.2 with Prophecy follows the industry standard for early unstake penalties, following a ‘drop-off’ value.
The earlier you unstake in v.2, the lower your reward value ontop of your initial stake is.
Unstake after 0–30 days: 0% of rewards
Unstake after 30–60 days: 25% of rewards
Unstake after 60–90 days: 50% of rewards
Full maturity (3 months+): 100% of rewards
Reminder: your initial stake will always be available and will always be untouched. These early withdrawal penalties apply to the bonus rewards added to your stake for staking v.2 and onwards. Remaining staked until full maturity results in the full reward ontop of your initial stake for v.2.
This day one pool, with the 20% reward, will employ a mandatory 3-month stake to maturity due to the rewards being significantly higher than our v.2 and onwards staking pools.
We’re hoping for as smooth a launch as possible with all developer and admin hands on deck! However, if demand is unprecedented, please bare with us while we iron our wrinkles and ensure this works perfectly for everyone.
The day one staking pool will be limited, and once its full, its full for good, so act fast!
Thank you all for your support and hype, we can’t wait to get launched!
