Re:$CRE8 Staking Program
Full details and updates can be found in our docs.
As mentioned in our previous post regarding our token transparency report, the Creaticles team has repurchased approximately 8.4 million tokens from the market. We will be redistributing those tokens (and a bit more)back to token holders as part of our Re:$CRE8 staking program.
The Re:$CRE8 Staking Program
Starting on December 14 at 0:00 UTC, $CRE8 token holders will be able to stake their tokens into the Re:$CRE8 pool. In total, the pool is offering 9 million $CRE8 tokens in rewards over a period of 90 days (approximately 3 months). During that period, 100,000 $CRE8 tokens are rewarded on a daily basis.
How Rewards Are Calculated
Regardless of the number of participants that stake, 100,000 $CRE8 will be rewarded each day. The rewards are based on the total amount of $CRE8 staked. For example, if 10,000 $CRE8 is staked, then at the end of the 24-hour period, each $CRE8 earns an additional 10 $CRE8.
The Lock-in Period
The staking requires a minimum lock-in period of 30 days. During those 30 days, you are still entitled to your share of the 100,000 $CRE8 daily rewards from the re:$CRE8 pool. The first 30 days of rewards will be accumulated and released to you after the first 30 days following the time you staked your token. For example, if you stake your token on Day 1, you will be rewarded your token rewards for Day 1 — Day 30 on Day 30. If you withdraw your tokens at any point in time before the 30-day Lock-in Period ends, you will forfeit your rewards.
After the Lock-in Period
After the lock-in period of 30 days, you will be receiving $CRE8 rewards on a daily basis. During this period, you can withdraw your staked $CRE8 at any time. You can also deposit your rewards to earn rewards on top of those rewards. Any new staked $CRE8 will also require the 30-day Lock-in Period.
Getting Started
We will be posting an announcement to follow up before December 10 to give the community more details on how to get started with the staking event.
