impactMarket’s Staking
Stake your $PACT tokens now and get extra rewards!
Today we are happy to launch one of the most expected features shared in our Tokenomics V2: impactMarket’s Staking!
Most crypto holders are already familiar with the term “staking”. Making it clearer for beginners, staking is a mechanism that enables you to put your crypto assets to work and earn passive income.
When we believe in the mission and vision of a project and want to keep its assets in a long term, staking is a great option to make the most of them. In this sense, if you are aligned with impactMarket’s mission and want to contribute to a better world, stake now your $PACT tokens.
This is also what PACT is about: a long-term commitment to something that you believe, in this case, the power of blockchain to drive financial inclusion and human empowerment for those who need it most.
Everything you need to know to stake $PACT
Get $PACT
You can get $PACT as a reward when donating Celo Dollars through our impact Farming or directly to one of the UBI communities. You can also purchase $PACT in several decentralized exchanges.
How to stake your $PACT
Through impact Farming, you see the number of tokens allocated to you 24 hours after the donation and you are able to claim your tokens after 15 epochs (16 days after donating). Now you can stake your $PACT right after your reward is allocated to you, even before claiming them. It means that you can stake $PACT 24 hours after donating and quickly start earning extra rewards. You can stake how many $PACT you wish and, after 15 epochs, you will be able to claim only the amount of allocated tokens that are not being staked.
If you have purchased $PACT tokens, connect your wallet to our website and stake your tokens here.
P.S: 👀 There is no minimum or maximum amount of tokens that can be staked.
Why staking $PACT
- Daily rewards based on how much PACT is staked: If someone has 1 million PACT staked, it will account, for the calculation formula, as a $1 cUSD (Celo Dollar) contribution on each epoch while those tokens are staked, even if no contribution was made in the previous 30 epochs.
- Earning interest 24h after your donation: Before you are able to claim your $PACT rewards, you can already stake them. So you can start earning interest after 24 hours of $PACT allocation.
- A combined effect on donations: For example, if someone has donated $1000 cUSD in the past 30 epochs/days, and has 2M PACT staked, it will be considered as a $1200 cUSD ($1000 + 2M/10K) contribution for the calculation of the daily PACT rewards allocation. (1 epoch = 24 hours).
About the interests
Staking rewards are around 134% APR (Annual Percentage Rate). This rate changes over time, depending on donations and staked amounts. You get daily interest, which you can see the balance and claim on the impact Farming page.
Staking APR calculation formula: (Total PACT staked / 10K) / (Total $ donated in the last 30 epochs + Total PACT staked / 10K) * New PACTs available in the current epoch / Total PACTs staked * 365 * 100
For more information about the calculation formula for the impact Farming including Staking, read our Tokenomics V2.
Unstacking your $PACT
When you unstake your tokens on the Staking page, you need to wait 15 days to be able to claim them. During this period, you won’t receive interests related to these tokens. Also notice that, when unstaking your $PACT, you will stop having the multiplier effect on rewards when donating.
👉 You find more useful information about the impactMarket’s Staking in our FAQ.
Now that you know everything about the impactMarket’s Staking, make the most of it! Donate cUSD to our UBI communities, get $PACT rewards, and stake your tokens to get even more rewards. The more you donate, the more rewards you get, and the more people in need we can support with UBI over the world.
Contributing to social good has never been so rewarding! 💙
Any questions, you can reach out to us on our social media, impactmarket.com, docs.impactmarket.com, or directly by emailing us at hello@impactmarket.com.
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impactMarket (the application layer protocol)
Open, free, censorship-resistant, and borderless impact-driven crowdfinance marketplace to fight poverty. It operates as a DAO, on top of the Celo network, using cUSD (Celo Dollar) as the main digital currency and $PACT as its governance token, while running autonomously through smart contracts.
impactLabs (the company)
Based in Portugal, was founded in Nov 2020, by Marco Barbosa, Bernardo Vieira, Afonso Barbosa, and eSolidar. The company is focused on building inclusive and decentralized systems to fight poverty, and disrupt access to finance while driving DeFi adoption.
