Here are some more details regarding the new locked WSG staking pool, answering the community’s questions regarding how it works.
The new locked pool is similar to a classic staking pool, but it introduces a new locking mechanism, which can increase your pool »share«.
Here is a simple example on how it works:
If you deposit 1,000 WSG tokens and choose a locking period of 1 month, your deposit will be worth 1,000 pool »shares«. If there are a total of 100,000 pool shares in the staking pool, the user will receive 1% of the reward allocation if nothing else changes.
If you deposit the same 1,000 WSG tokens and choose a locking period of 2 years, your deposit will be worth 3,760 pool »shares«. If there are a total of 100,000 pool shares in the staking pool, the user will receive 3.76% of the reward allocation if nothing else changes.
However, a higher multiplier does not necessarily mean a 3.76x increase on your reward amount. If many users lock their tokens for longer periods, the percentage change on the APR will be smaller. The same mechanism is used for the veCRV locking mechanism on the Curve platform. A longer locking period will always grant you a bigger reward amount, but not necessarily in the same percentage as the increase in your pool share amount.
A field showing your estimated APR has been added to the pool details row.
Important: this percentage will change when new users make deposits into the staking pool and lock their tokens for different periods!
Here are some other answers to the community’s questions:
1. What are the »STAKED_SHARES-WSG« tokens with the »ssWSG« ticker?
If you view the pool contract on BSCScan, you can see that it inherits the ERC20/BEP20 token standard: https://bscscan.com/address/0x37a8c555247B3bE39D1e535c062F957354F34270
However, it has all transfers disabled, except deposits/withdrawals into the locked staking pool. This token has no functionality for the user and it is normal to appear in the user’s wallet. You do not need to do anything with it.
It will be used for the upcoming DEX partner token launch and airdrop distribution.
2. What happens if I make another deposit after I have already locked a portion of my WSG tokens?
If you want to make another deposit into the locked pool, you need to be aware that you are unable to lock tokens for a shorter period than your existing deposit. Additionally, your locking period will be reset at the moment of your second deposit, which means your entire deposit will be subject to a new locking period. Be careful about this when making additional deposits into the pool.
3. Will I earn additional tokens in the locked pool? Are there additional steps I need to do in order to be eligible for the airdrop/second token rewards?
The smart contract already has all the functionality needed to provide you a seamless double token reward structure and airdrop distribution. You do not need to do anything special about it. A frontend update will be available once our partnered project launches and you will be able to see both of your rewards appear in the pool row.
We hope that helps you out with the new locked staking pool and if you have anymore questions, don’t hesitate to reach out to us on Telegram and we will update this article accordingly.
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