EasyStaking FAQ

Participation Questions

How do I stake STAKE?

There are currently 2 ways to add STAKE to the EasyStaking protocol.

  1. Go to https://easy-staking.xdaichain.com/ and connect your web3wallet. 💡 More instructions

  2. Stake through BitMax.

How do I unstake STAKE?

With the EasyStaking application you can withdraw any amount. To completely unstake, withdraw your full amount. You can do this instantly and pay a 2% fee, or schedule a withdrawal and withdraw after 12 hours. 💡Instructions

If you are staking with Bitmax, you can undelegate instantly for a 2% fee, or schedule a withdrawal and withdraw after 24 hours with no fee. 💡More information

How much STAKE is in the EasyStaking Contract?

Easy View: https://etherscan.io/tokenholdings?a=0xecbcd6d7264e3c9eac24c7130ed3cd2b38f5a7ad

View the contract here: https://etherscan.io/address/0xecbcd6d7264e3c9eac24c7130ed3cd2b38f5a7ad and use the token dropdown to see the current amount of STAKE in the contract.

For context, compare this to the circulating supply, which is available on CoinGecko, CMC, or here: https://supply.xdaichain.com/

Is EasyStaking Audited?

Yes, Quantstamp conducted a full security audit on the EasyStaking contracts. We addressed and resolved all high, medium & low risk issues. See more information and the full report here.

How do I participate as a Liquidity Provider (LP)?

Simply add STAKE and ETH to the following Uniswap pool. https://uniswap.info/pair/0x3B3d4EeFDc603b232907a7f3d0Ed1Eea5C62b5f7

You will receive rewards based on the LP distribution contract. The top 100 liquidity providers will split the rewards based on the percentage of STAKE they have contributed to the pool.

I was staking on BitMax during the promotional period. Do I need to do anything to start EasyStaking?

No, your funds will be automatically moved to EasyStaking delegation with Bitmax. You don't need to do anything if this is your preference. If you want to move your funds:

  1. Undelegate through BitMax (will take 1 day to process with no fee, can do instantly with 2% fee)

  2. Send your STAKE to an address you can access with MetaMask/NiftyWallet

  3. Connect the wallet to EasyStaking and stake with your own address.

Note: Moving funds and staking independently will incur gas fees. Staking through BitMax does not incur gas fees, so if you are staking a small amount it likely makes sense to stay with BitMax to avoid large tx fees.

What are the differences between staking independently through EasyStaking and staking through BitMax?

Both use the EasyStaking system, but the rules are slightly different.

Independent (EasyStaking)

BitMax

Minimum STAKE

.000000000000000001

10

Minimum Unstake amount

.000000000000000001

10

Reward Calculation

Immediate

T + 1 Day

Reward Distribution

Immediate

T + 2 Day

Distribution Cycle

On Demand

Daily

Withdrawal

Instant / 12 hour scheduled

Instant / 24 hour scheduled

Instant Withdrawal fee

2%

2%

Gas fees

Yes

No

APR Questions

Is there a rewards calculator?

There is a simple rewards calculator on the EasyStaking site. A more advanced model is available at https://www.stakingrewards.com/earn/xdai/calculate. Here you can change different parameters and view anticipated rewards for participating in Easy Staking or as a Liquidity Provider.

How is APR calculated for EasyStaking?

APR is calculate in 2 ways, each with a maximum 7.5% for the EasyStaking staker (totaling a max of 15%).

1) Time based: Emissions are earned based on the amount of time in the protocol. These rise quickly and then level off, based on a sigmoid function.

If you click on a timepoint on the sigmoid graph you will see the number of seconds corresponding to the APR. In this example, the # of seconds is 880,000 (10.18 days) and APR is 2.011%.

Click on the line to see the APR based on # of seconds staked

2) Supply based: APR based on the total supply. The total supply can also be adjusted using the totalSupplyFactor parameter (currently set to 50%). If the supply in the contract is 1.25M and the total supply is set to 4,268,752.50 (total supply * totalSupplyFactor), then the Supply APR is 1,250,000/4,268,752.5 * 7.5 or 2.196%.

For the preceding example, the time based emission after 10.2 days is 2.011 APR, and the Supply based emission with 1.25M STAKE staked is 2.196. This results in a (2.011 + 2.196 = 4.207) 4.207% APR if a withdrawal is processed at this time.

I am staking for {1 day, 1 week, 1 month etc} how much APR will I earn?

We find this using the sigmoid function by converting the staking time to seconds. Here are some approximate conversions:

  • 1 Day: 86400 seconds (8.64*10^4) = .19%

  • 1 Week 604,800 seconds (6.04*10^5) = 1.4%

  • 1 Month 2419200 seconds (2.41*10^6) = 4.53%

  • 2 Months: 4838400 seconds. (4.83 *10^6) = 6.25%

This time-based APR is then added to the supply based APR to get total APR on withdrawal. Supply APR is linear and can be found with the following formula: Stake in EasyStaking Contract / (Total STAKE Supply * supplyFactor(.5)) * 7.5

How is APR calculated for Liquidity Providers (LP)

Liquidity providers receive their APR accordingly:15 - ( EasyStaking time APR + EasyStaking supply APR)

  • For example, if a staker withdraws with a 2.011% time APR and a 2.196% supply APR, the LP contract receives 15 - (2.011 + 2.196) = 10.793%. This amount is distributed amongst the top 100 LP providers based on how much STAKE they have in the LP contract.

  • LP providers also split the 2% instant withdrawal/unbonding fee when instant withdrawals are processed.

  • Rewards to LPs are distributed based on the LP distribution script.

I heard I will earn 15% APR. Why is it lower than that?

15% is the total emissions earned on all STAKE staked in the contract. This amount is divided amongst stakers and liquidity providers.

If a participant stakes for a long time (6+ months) and the supply in the contract relative to total supply is very high, the APR for this individual will approach 15%, but will never reach the full 15% due to the sigmoid function and supply limits.

What is the predicted APR over time?

APR will fluctuate based on the amount in the contract and how long you have staked. See the questions above for answers on how APR is derived for stakers and for liquidity providers.

Why did APR drop from 36.4% to less than 3% on BitMax?

The 36.4% APR was part of a 3 month promotional program called Stake Vault. This was designed to last 3 months (meaning effectively it was a 9% APR if spread over the course of a year).

Now that StakeVault is done, Bitmax is moving funds to EasyStaking with some slight variations on how it is used. The APR on the BitMax staking page will update daily and adjust to reflect the amount of time STAKE has been in the protocol. The daily APR is available here.

Will I make more APR as an LP (Liquidity Provider with Uniswap) or as a staker with EasyStaking?

We will see - it depends on how the game is played! In general, if not much supply is staked and stakers unstake quickly, liquidity providers will receive higher emissions. However, if stakers stake for a long time, and the supply in EasyStaking continues to grow, stakers will earn more.

APR emissions may also depend on timing for liquidity providers. If a large staker leaves the protocol, the remaining APR (15 - stakers APR) will go to all LPs, regardless of how long they have been an LP. If an LP starts right before a big unstaking event, they may earn a considerable amount of STAKE.

From a risk management perspective, Easy Staking involves a single token rather than multiple tokens, and the contracts have been thoroughly audited.

So the answer is "it depends", and we are excited to see how it plays out in the protocol. We plan to add additional LP analytics and views to learn more about APR benefits for both groups.