When SOLR Staking? Now!

Hello SolRazrs,

Over the last few days, there have been several queries on when the SOLR staking will go live, and, here it is… starting today, you can stake your SOLR and increase your chances of getting an allocation in our future IDOs and earn APY in near future.

This article is an extension to the previous article on staking and tradable allocations.

So, here is a step by step guide to staking SOLR on https://solrazr.com

Checklist before you stake:

• You decide on which of these tiers you want to be in. The first tier starts from 100 SOLR and goes all the way upto 50,000 SOLR. Please make sure you have enough SOLRs in your wallet.

• Also, please make sure you have enough SOL in your wallet for the staking transaction to go through

How To Stake?

• Click on connect wallet, you will find your SOLR balance on the top right. Please choose the amount of SOLR you want to stake (minimum of 100 SOLR) and the number of weeks you would like to stake it for (minimum of 2 weeks and maximum of 8 weeks) and click on “stake” button.

• That is it, once you confirm the staking transaction on your wallet, you will see your tier, the number of tickets you earned.
• You can always come back to the website, connect your wallet and check the tier you belong to, unlock date and number of tickets you currently hold.

Why stake SOLR?

1. Staking SOLR will give you lottery tickets to participate in the future IDOs that will be listed on our platform.
2. Each lottery ticket represents a chance of winning an allocation in the IDO. As you increase the number of weeks you stake, the number of lottery tickets you earn will also increase. You get x lottery tickets for x weeks of staking. Ex: if you choose to stake for 4 weeks, you will earn 4 lottery tickets. Maximum you can earn is 8 lottery tickets at any point in time. The odds of winning the draw for a person with 8 lottery tickets is twice that of another person with only 4 lottery tickets.
3. Amount of SOLR staked determines your tier and number of weeks you stake determines the number of lottery tickets
4. The lottery tickets you earned represent the chance of winning an allocation only in the respective tier. Ex: if you belong to the Sapling tier, ie., you have staked 2500 SOLR, then, your lottery tickets represent the chances of you winning an allocation from the Sapling pool only. i.e., you don’t compete for the allocation spot with the other pools like seed or tree.
5. Once you win, the allocation is given to you in the form of an NFT that also has the allocation amount encoded inside it. All allocations/NFTs are fixed and equal in value for a particular IDO. Ex: For a particular project X, each allocation NFT will be fixed at say, 300$ each.
6. If you stake 50,000 SOLR, your allocation is basically guaranteed for the foreseeable future.
7. Once you stake, your lottery tickets are entering the draw automatically for every IDO. You are also automatically entering the draw for the rare (five 1000$) and super rare (one 5000$) NFTs for each IDO.
8. SOLR staking and APY? When?
   APY on SOLR begins after four weeks from the day of staking. Ex: if you stake SOLR on Nov 1, you start earning rewards (APY) on it from Dec 1.
9. Want to provide liquidity and earn more rewards? Yes, please wait for a detailed announcement on this.

Happy staking. Here’s to productive SOLR. This is just the beginning and we have planned a lot more features in the future that can utilise SOLR for multiple use-cases.