WAX Rewards: Claim daily or Miss Out?
So by now you have all had a chance to ignore, I mean read, and attempt to understand this middle-aged Brits approach to WAX and it’s GBM and staking rewards and chosen that I am either really helpful (unlike my wife) or that I type and talk too much ( … like … my … wife )…
This article is here to simply explain and answer the question that has been asked 186 times over this week so far ( 187 now… )
So in short, pretty much EVERY SINGLE PERSON that has completed the burn has then asked the above at some point, this is just from the last couple of days and at random scrolls in the @WAx_io Telegram channel itself.
“ Should we claim daily or wait until our need to re-vote to claim our Rewards? ”
If you claim them at least once a week and re-stake them you earn more rewards on top, especially during the swap window.
“But How?”, I hear you exclaim loudly and then huff and fold your arms at the same time.
Well let’s explain shall we:
Now to go with an easy round number, that is also the same as in their official example, let’s start with a 10K deposit of WAX ERC20 into the burn address, all carried out as if we were following the tokenswap.WAX.io instructions.
If we leave this 7 days we would receive the following:* (*assuming we voted for our 16 minimum, maximum 30 Guilds to enable rewards to be eligible to our xxxxx.waa account with a voting strength of 1)
10,000 / 1096 (9.124087591) X 7 = 63.86861314 Total rewards from Staking and GBM.
= 10,063.86861314
If we claim daily we would get 10,000 / 1096 = 9.124087591
10,009.124087591 + 2% inflation as per the article, but basing this calc on 50% of all supply holders staking
So day 7 would be 10.067,96
Now, this may seem small but over the 60-day window, on 10,000 WAX we earn an additional 54 at a minimum.
You can see how this, over a longer period, can become beneficial to you just from the above, but maybe some people need to see further into the future?
So, let's try and push this further shall we…
10.000 ERC20 Wax swapped will turn into 10.000 GBM WAX
* GBM WAX will create more WAX every day till July 2022 (0.09124% / Day) XXX/1096 is the released Calc.
** For this calculation I used a voting/staking percentage of 60% and 4% Inflation (2% from staking rewards and 2% from Guilds/BPs)
So, a rough return of 40% ROI based on Token circulation as above with inflation and starting at the 3.7 Billion Tokens we see today in the erc20 WAX.
You are increasing the amount you are earning on a daily basis so it is a no-brainer and means I am unequivocally certain that I can state that claiming daily will earn you more rewards.
It is definitely more beneficial, and in your best interests, plus more beneficial for the WAX ecosystem as a whole, for you to claim and re-stake daily.
All of this is also before the other incentives that WAX have stated will also come from choosing to keep your vote strength to 1 (maximum power of 2 if you want to be technical)
Questions?
Please ask Kaefer, The Cheesman or I in the @WAXTradeTalk channel and we will try to help as much as we can
- MASSIVE SPECIAL THANKS TO @Cheesmanart FOR HIS HELP WITH ALL THE CALCULATIONS ABOVE. I COULD NOT HAVE GOT THIS ARTICLE AS COHERENT AS IT IS, WITHOUT HIS ASSISTANCE.
Ps. If you would like to attempt to have a rough idea as to what you stand to earn based on the above, and by claiming daily, please feel free to give the below spreadsheet a try here https://docs.google.com/spreadsheets/d/1gm2aLSSUk8cpEoU2xc7vir63q593C9nfJ1kiwOGGblU/edit?usp=sharing
If you would like to support our writing, please share and clap our stuff as we only get exposure via you lovely peeps that are reading. If you wish to drop me a tip, you can do so into my WAX account please: f1s3w.waa. Thank you all #WAXon❤
pps. If you wish to find a more up to date article, look no further: https://guide.wax.gg/basic/rewards
