Colony’s Staking Tutorial
In this tutorial, we delve into the process of staking $CLY on our platform and explore the significance of holding and staking $CLY within our ecosystem.
Leveraging our innovative Ecosystem Farming concept, we’ve crafted a five-sided passive income model that offers the $CLY stakers community diverse rewards effortlessly and provides them with a natural exposure to various facets of Avalanche. By simply staking $CLY, users unlock a stream of passive income, featuring:
- $AVAX rewards from our Validator Program
- Platform fees in the form of $CLY (Staking / Unstaking fees)
- Airdrops from early-stage projects in which Colony has invested
- $CAI fees generated by our Colony Avalanche Index
- Special rewards stemming from Colony’s Avalanche DeFi liquidity positions
In the near future, alongside this passive income stream, $CLY stakers will gain the ability to utilize their ANT tokens* for investment in early-stage Avalanche projects before IDOs through Seed and Private sales (Colony’s Early-stage feature). Additionally, they can freely trade their locked/vesting tokens, facilitated by our Liquid Vesting solution on our upcoming DEX.
(*ANT tokens are generated upon staking $CLY. ANT tokens represent the $CLY staked, where 1 CLY equals 100 ANT.)
Where to acquire $CLY
- $CLY Token Address: 0xec3492a2508DDf4FDc0cD76F31f340b30d1793e6
You can purchase $CLY from the following platforms:
🟢 MEXC
How to stake $CLY
1. Connect your wallet to our application: https://app.colonylab.io
2. You will be automatically directed to our Staking page. Deposit your $CLY and confirm the transaction. There is no minimum staking amount, however, it’s important to note that staking more $CLY will result in higher rewards and potentially a greater allocation in Seed/Private sales during our upcoming fundraisings on Early-Stage.
3. That’s it! Once your $CLY deposit transaction is confirmed and your $CLY are staked, you’ll gain access to Colony’s products and can start earning rewards. You can now view both your staked $CLY and your ANT balance.
Platform fees
When using Colony Lab’s platform, there are two fees to be aware, both of which directly benefit $CLY stakers.
Deposit/Staking Fee (2%): This fee safeguards existing $CLY stakers from dilution by new stakers. Whenever new $CLY is staked, a 2% staking fee is collected. The entire fee is immediately sent to the Staking Rewards contract for redistribution among all other stakers, proportionate to their $CLY holdings. Keep in mind that after paying this deposit/staking fee, you start earning on the fees generated by those staking after you, with your earnings dependent on the size of your stake relative to others on the platform.
Unstaking Fee (10% — 2%): This fee encourages long-term commitment from dedicated $CLY stakers and restricts the number of $CLY unstaked post Airdrop sessions. The fee initiates at 10% after an airdrop session and gradually decreases every second until reaching 2% over 8 days. Similar to the staking fee, 100% of the unstaking fee is promptly sent to the Staking Rewards contract for redistribution to all other stakers, based on their $CLY holdings.
Unstaking Fee Breakdown:
· 1 second post-airdrop session: 10% penalty
· 2 days post-airdrop session: 8% penalty
· 4 days post-airdrop session: 6% penalty
· 6 days post-airdrop session: 4% penalty
· 8 days post-airdrop session: 2% penalty
· Beyond airdrop session (+8 days): 2% penalty for all unstake actions
About Colony Lab
Colony Lab: The community-driven Avalanche ecosystem accelerator, powered by $CLY.
We empower projects through decentralized fundraising and liquidity. Our inclusive platform offers the community diverse exposure and unprecedented access to Avalanche’s remarkable growth. Join us for seed/private sales investment opportunities and unlock a world of rewards, including airdrops, $AVAX incentives, and a share in platform fees.
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