The OCC Token Staking FAQ
We announced in our earlier article that staking for OCC tokens would soon be available via the OccamRazer platform. We are now pleased to reveal that this feature is available and ready to use!
We can see that many in our community have already begun to explore staking through our OCC panel, but here we want to clear up a few questions from our community that we have seen asked many timesover the last few days.
We will be adding to this article periodically, so leave your question in the comments if it hasn’t been answered already, and make sure you bookmark this article!
1. Where can I stake?
You can stake by visiting: razer.occam.fi/personal/occ-panel/staking. Please see below the supported staking wallets.
2. What wallet will I need for staking?
You can stake your OCC tokens from Metamask. We currently do not support other types of web 3.0 wallet. Ledger hardware wallet integration through Metamask is in progress and we expect it to be supported by the end of May. If you would prefer to use a Ledger wallet to stake, you may want to consider waiting until support becomes available, as otherwise you will need to unstake and incur a cast out fee.
3. Do I pay a fee to stake?
No. There is no fee paid in OCC to begin staking. You will pay a gas fee to interact with the staking smart contract on Ethereum, however. This fee entirely depends on the congestion of the Ethereum network at the time you stake.
4. How many OCC tokens do I need to stake?
You can stake any amount of the OCC token. Rewards are distributed on a pro-rata basis according to your total stake. The more you stake, the more rewards you receive.
5. I want to add newly bought OCC tokens to my current stake, does this incur additional fees? Do I need to unstake and then stake again?
Fees in OCC are only applied when you remove stake from the staking smart contract. There is no fee in OCC to add extra stake to the staking smart contract. Please be aware that Ethereum gas fees will be payable each time you interact with the contract, however. For this reason, you may wish to wait until you have the final balance of OCC you wish to stake with before you start staking.
6. Why is there a cast out fee?
Our cast out fee has prompted some questions from the community which we feel are important to clear up. We asked you to vote on what the cast out fee should be, and it has now been set at 4%. The cast out fee was calculated on the 5th of May 2021 taking into account the weighted average of votes (4.38%) and rounded down to the nearest whole number. This information may help you to better understand it’s usefulness and process. Let’s discover what it means in simple terms.
Essentially, the cast out fee is a small percentage of the total amount of OCC that is unstaked. If you unstake 100 OCC from the staking smart contract, 4% of this will be the cast out fee. It is designed as a reward to those who continue to stake, and it’s an extra incentive within our OCC staking economics.
Some of our community have asked if the cast out fee is a penalty for removing OCC stake. This short answer is no. The only way that a staking participant would incur a loss through the cast out fee is if they do not remain as a staking participant for long enough. Let’s look at a practical example.
Alice stakes 1,000 OCC through the OCC staking smart contract. She remains as a staking participant for three months, generating rewards from cast out economics and continuous ecosystem diversification (CED) from ProjectX IDOs. After three months, Alice decides to unstake her OCC. Alice will still pay 4% of her unstaked OCC as a cast out fee, but now Alice’s total staking rewards, owing to the dollar-value in rewards she received from other staker’s cast out fees and CED, far outweigh her own cast out fee.
As you can see, this incentivises long-term staking, but it does not cause a loss to staking participants who unstake, unless they do so after a significantly short amount of time. Instead, those who stake for a sufficient amount of time receive rewards that far outweigh the cast out fee.
In turn, long-term staking generally has advantageous effects on the market price of a token, effectively removing OCC from circulation and reducing its availability to be sold on exchanges — increasing demand and reducing supply.
Cast out fees will be distributed to remaining staking participants once enough cast out fees have been collected. They will then be distributed according to participants stake on a pro-rata basis of OCC/second. The claim interface for these tokens will be released shortly.
7. Is OCC staking related to Uniswap liquidity mining?
No. These are two separate concepts. We have temporarily postponed the beginning of our Uniswap liquidity mining campaign with the arrival of Uniswap V3, but we will resume this shortly.
Exact Staking Requirements — Read Me!
Important note — when you stake your tokens through Metamask, you will be prompted to approve access to your funds from the OccamRazer staking smart contract. You must accept this contract without modification in order for staking to be successful.
8. Access to the first IDOs (upon meeting other criteria): 75 STAKED OCC
Remember: The wallet address you participate in an IDO with must match the address you stake your OCC from. There is no staking time limit to participate in IDOs, you simply need to have 75 OCC staked at the beginning of the IDO. This amount of OCC is subject to change in future IDOs at the discretion of pool originators. This lets you participate in the IDO if you pass KYC and are whitelisted, however it does not guarantee your transaction will be successful should there be high demand or competition to purchase tokens.
9. Access to Continuous Ecosystem Diversification rewards: 150 STAKED OCC, FOR A PERIOD OF AT LEAST 7 DAYS
Remember: This allows passive allocation of verified/ProjectX tokens. You must stake for 7 days before the IDO begins to be eligible. For example, to be eligible for an IDO beginning on the 21st of May, you must stake before the 14th of May. The amount of OCC required may change on future IDOs at the pool originators discretion. Claim functions for CED distributed tokens may take up to two weeks after the IDO has concluded. Gas will be payable to claim tokens, however tokens can be claimed at any time should users wish to minimise gas expenditure. If you stake 150 tokens or more, this qualifies you for both CED and pool access.
10. Rebate Ratio Claim Procedure
For those IDO pools which offer a Razer Rebate Reward, your pro-rata rewards percentage is paid in OCC. You will receive both the IDO project tokens and the OCC by clicking ‘Claim’ in the OccamRazer interface after the pool has concluded. The claim function will become available 1–2 hours after the IDO has concluded, this time is required for pool originators to deliver on post-IDO operational requirements.
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