Introducing High Stakes’ IBEX Loyalty Program: Unlocking New Rewards for Crypto Stakers
A comprehensive guide to the IBEX Loyalty Program, its features, and how you can benefit from it.
The IBEX Loyalty Program
In a few words, the program allows our delegators to earn loyalty points each day, which they can then exchange for $ATOM.
The more they stake, the more points they earn.
How It Works
The IBEX Loyalty Program is a unique incentive system created by High Stakes 🇨🇭 to reward users who delegate their tokens to our platform’s eligible nodes.
By participating in the program, users earn daily $IBEX loyalty points, and upon reaching a threshold, they can redeem these points for $ATOM.
The current “exchange rate” is set to 1000 $IBEX = 1 $ATOM.
These $IBEX points are backed by High Stakes’ $ATOM treasury.
Fully non-custodial and with a focus on privacy and security, the program offers additional earnings on top of the standard staking rewards, ensuring a comprehensive and profitable staking experience.
Users should head to https://app.highstakes.ch and connect their wallet
⚠️ ️Only Keplr and Cosmostation are supported at the moment, on a desktop browser
The registration is straightforward and simply requires the wallet owner to sign a transaction which proves his ownership.
He can then activate each chain he stakes on, and the concerned delegation will be taken into account when calculating his $IBEX share.
Through the same method, one can also link multiple wallets so that the $IBEX allocation is calculated out of their overall stake.
A complete documentation and tutorials are available at https://docs.highstakes.ch.
Earning $IBEX Points
Each user’s daily $IBEX allowance is based on the overall $USD value of their delegations across our nodes: the more they stake, the more $IBEX they earn.
The IBEX Loyalty Program was designed to be both fair and transparent: a quadratic function is implemented, allowing small holders to always get something while preventing “whales” from being disproportionately rewarded.
To start earning $IBEX points, a user must stake at least $500 worth of tokens across our eligible nodes, and he can redeem them against $ATOM as soon as he reaches the threshold of 250 $IBEX.
For example, someone who delegates the equivalent of $100 on Shentu, $200 on Cosmos, and $300 on Terra 2.0 is eligible as overall amount is $500.
Initially, High Stakes will allocate 80 000 $IBEX per week, fully backed by $ATOM, with plans to gradually increase this number as more users join the program.
This continuous growth in rewards will make the program increasingly attractive to newcomers and existing users alike.
Eligible Nodes
Users staking with us on the following networks can earn $IBEX points:
Cosmos
Terra 2.0
Injective
Secret Network
Band Protocol
Iris Network
Teritori
Fetch.ai
Persistence
More networks will be included over time — follow us to receive the latest news and announcements: https://twitter.com/HighStakes_CH
Undistributed $IBEX and Year-End Bonus
The mechanism that allocates the daily loyalty points to the stakers has safeguards in place, ensuring that everyone gets something and no one gets too much.
As a result, not all $IBEX may be allocated each week.
Any undistributed portion of these weekly $IBEX will be added to a pool, which will be shared among all users at the end of the year.
This exceptional distribution will be prorated based on each user’s delegation and the duration they’ve staked with us.
By doing this, we intend to properly reward our long-term stakers and further incentivize participation.
Initial Airdrop
We have announced this upcoming program during the summer 2022, and have encouraged token holders to stake with us in order to be eligible for extra rewards.
Snapshots have been taken since August, and we will allocate an initial amount of $IBEX points to the registered users that have been delegating to us since then — in the same calculation mode than for the year-end bonus outlined above.
Eligibility criteria and schedule
➡️ When, how much?
– May 1st, claimable until June 30th
– A total of 500'000 $IBEX, worth 500 $ATOM, will be available➡️ Criteria?
– Having staked at some point at least $500 worth of tokens across our eligible nodes between August 2022 and May 2023
– Being a staker on May 1st (whatever the amount)➡️ How?
– $IBEX will be allocated to each eligible staker on May 1st
– To claim them, one should register to the IBEX Loyalty Program at https://app.highstakes.ch before June 30th
– A bonus will be applied on the allocation based on the time staked since August 2022 — the longer you staked, the higher the boost➡️ Final details
– Foundation wallets are excluded from the calculation
– Any unclaimed $IBEX by June 30th will return to the pool and kept for the annual airdrop at year end
Going Forward
The program is 100% functional and users are already accruing $IBEX points and receiving $ATOM.
A number of features are lined up, that will improve the UI, provide more information, and bring new opportunities to the participants, e.g.:
- Graphs and data visualization to accurately monitor the staked amounts, changes in volume and value, etc.
- The ability to time-lock your $IBEX points in order to earn more rewards
- A referral program to allow those who share the word to be rewarded for it
- More networks to become eligible
Wait no more — stake now and register to the program to start boosting your staking rewards!
