ENTER THE DRAGON — PART ONE: Introducing $RVX League of Stakes #LOS

RiveX

Published in

RiveX Foundation

5 min readJun 9, 2020

An overview of RiveX’s League of Stakes with a Stake-to-Burn mechanism!

League of Stakes

League of Stakes (#LOS) allows participants to stake their assets — RVX (WRC-20 version) and earn rewards. The #LOS model comes with a unique mechanism called the Stake-to-Burn mechanism.

Below are some of the quick key takeaway points for #LOS

Stake-to-Burn % Ratio
46.8% to 62.4% APR
No bonding period — unstake anytime
No minimum or maximum staking amount
Dedicated #LOS dashboard

PLEASE NOTE: LEAGUE OF STAKES ONLY SUPPORTS WRC20 STANDARD OF RVX TOKENS!!

1. The Stake-to-Burn Mechanism Explained

RiveX will be burning the same percentage for the amount of RVX from the Ecosystem Fund based on the total RVX staked for League of Stakes from the total on a monthly average basis.

LOS is a deflationary model where it will significantly reduce the total supply of RVX. This is considerably the highest burn per stake in the industry today.

Example of the Stake-to-Burn Mechanism in action

Let’s assume that 1M of the total 8M RVX tokens in circulation have been staked:

Circulating Supply = 8,000,000 RVX
Average Staked RVX for 30 days = 1,000,000 RVX
Average of monthly % of staked RVX = 1,000,000 / 8,000,000 = 12.5%
RiveX will then burn 12.5% of Ecosystem Fund which is equivalent to 212,500,000 RVX. (Ecosystem Fund currently stands at 1,700,000,000 RVX)
The Stake-to-Burn mechanism percentage ratio (Average Monthly Staked % : Ecosystem Fund %) will continue in the following months with the remaining Ecosystem Fund balance. For an example, if 90% of the circulation is staked, RiveX will burn 90% of RVX from the Ecosystem Fund.

2. Minimum APR From 46.8% to 62.4%

The support and long term commitment from the community is vital for the RiveX ecosystem. This is part of RiveX’s community initiatives. #LOS will only be effective for 52 weeks (one year) from the date of its launch.

Please read below for the calculation and explanation of the APR.

Weekly Rewards — 0.9%
Additional Bonus Rewards — 0.3%

Every #LOS participant will receive their eligible weekly rewards if they stake for a minimum of one week. The said participants need to have staked for at least a week to be eligible for the 0.9% weekly rewards. If the #LOS participants were to stake for the entire 52 weeks, it will add up to 46.8% APR.

The weekly compounding rewards of 0.3% will be given to the #LOS participants if they choose not to unstake their initial stake or initial stake + rewards post weekly random snapshot. A weekly random snapshot will be taken to ensure the eligibility of the said participants. Keep in mind, the snapshot is taken randomly every week, thus reward entitlement will be added into calculation for the additional 0.3% rewards. As long as the current weeks locked tokens are equal to or more than the previous weeks locked tokens, you will be entitled to the additional 0.3% rewards. The 0.3% rewards will be compounded on a weekly basis for 52 weeks which will be equivalent to 15.6% APR if the participants were to stake for the full 52 weeks. In a situation where the #LOS participants decide to unstake at any point of time, his/her compounding rewards will restart from 0.3% again.

Attached below is a table for the #LOS staking rewards.

3. No Bonding Period — Unstake Anytime!

We believe in giving the most flexibility to the participants in #LOS. There is no bonding period for #LOS and participants may choose to unstake whenever they want at any point in time.

Weekly rewards will only be eligible if they are staked for a full week. There are no pro-rated weekly rewards.
Additional staking rewards from the following week will be given as long as the current week’s staked RVX is equal or larger than the previous week’s staked RVX.
#LOS is an on-chain WRC20 staking initiative that relies on Wanchain’s network. There may be some slight delays to unstake although Wanchain’s network has always been fairly fast.

4. Dedicated #LOS Dashboard

Attached above is an example of a dedicated dashboard for all #LOS participants. Every participant is able to manage their RVX’s League of Stakes assets via this unique and sleek dashboard.

Manage, stake and unstake your RVX assets with ease — convenience at your fingertips
Connect to the RVX dashboard directly via RX Wallet
Monitor the participation rates, circulating supply, and amount of RVX staked here

Please stay tuned for Part Two: $RVX League of Stakes Walkthrough where we will be releasing an article to guide you on how to stake and unstake RVX via the dashboard as well as directly from within RX Wallet.

About RiveX

RiveX is a chain agnostic interoperable layer-2 solution across different blockchain protocols. RiveX aims to empower the next generation of decentralized applications, decentralized finance and enterprise solutions. RiveX has comprehensive interoperable DeFi solutions such as RX Wallet which aims to integrate DAPPS from different blockchain protocols to enable an interoperable DeFi ecosystem within RX Wallet itself. The first DAPP which RX Wallet has already integrated is WRDEX. Another core product powered by RiveX is the world’s first cross-chain DEX called WRDEX.

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