Updated Information for Continuous Ecosystem Diversification Rewards
In this article, we are pleased to share some newly updated info about our Continuous Ecosystem Diversification (CED) rewards system!
But, before we get started, we want to clear up a few questions about CED rewards that we see asked a lot in our community channels.
So, let’s make it super simple below!
What are CED rewards?
CED rewards are project tokens you receive simply for having at least 150 OCC staked through the OccamRazer staking smart contract.
When IDOs raise through our platform, they can make some of their tokens available for distribution across our staking community. These are CED rewards.
Let’s take deFIRE, for example. Everyone who staked at least 150 OCC tokens for 7 days before the deFIRE IDO started will receive cWAP tokens on a pro-rata basis according to their stake. Quite simply, this means that the more you stake, the more you get.
But wait! Wasn’t deFIRE a private pool that required KYC and address whitelisting to enter? Doesn’t this mean you need to pass KYC in order to receive CED rewards?
No! It doesn’t matter if you don’t pass KYC, or whitelist your ETH address, or participate in the IDO pool. As long as you have over 150 OCC staked for the allocated time before the IDO, you will receive CED rewards. It’s that simple!
Of course, deFIRE was just the first IDO eligible for CED rewards on the OccamRazer platform. As we grow, there will be many, many others — multiple IDOs per month in fact — that you can receive CED rewards from. So, over time, these rewards stack up considerably. And, naturally, if you always leave your OCC in the staking smart contract, you are always eligible to receive CED rewards from the projects which IDO through OccamRazer.
Currently, the CED yield percentage at current OCC prices is somewhere around ~4% dollar value return per eligible IDO, which makes CED and OCC staking a fairly attractive yield generating mechanism, as we will target ~4–7 IDOs per month going forward. As the Occam.fi community grows in the future, in order to keep the yield at the same level, it may be required to stake more OCC.
We could say that a simple flow for CED rewards looks like this:
- Stake at least 150 OCC before the required date cut-off for IDOs,
- Sit back and enjoy regular distributions of tokens from IDOs on OccamRazer,
- Claim your project tokens at your leisure from our OccamRazer OCC panel! These tokens are yours forever and you can claim them when you like.
As you can see, we’re working hard on making this process as simple and easy as possible for our community.
Part of this includes migrating all of the CED rewards to one contract, so that you may claim tokens in one single transaction, from many eligible CED IDOs with a reduction in gas costs.
Therefore, we recommend you don’t claim your CED rewards from a single IDO. It would be more cost-effective, while gas prices are high at least, to use a unified claim interface and claim all of your IDO tokens say once per month, or at an interval of your choosing. Of course, this is totally up to personal preference.
We have also seen many users asking if CED rewards are related to OccamRazer pool rebates. No, they are not.
OccamRazer pool rebates are offered to those who actually buy tokens from the IDO pool (in other words, whitelisted participants who buy tokens). These pool rebates are a novel mechanism, unique to OccamRazer, designed to essentially compensate participants for the gas they have spent to participate in the IDO sale. They are not related to CED rewards or staking whatsoever.
Ok, I’m staking >150 OCC and eligible for CED rewards. Where do I claim them?
Now you’re probably wondering, where do I claim all these IDO tokens I’ve received as CED rewards? Well, this part is also simple.
The CED claim function will soon be available as a separate claim button on the OccamRazer platform.
This function only becomes visible when you have CED rewards available. It may take up to two weeks for IDO project teams to distribute CED rewards, the OccamRazer team does not control this process.
Finally, you do not have to un-stake to claim CED rewards. Tokens will be transferred to your MetaMask wallet, and your OCC will remain staked. Even after you claim, if you continue to stake 150 OCC or more, you will continue to receive CED rewards.
So, to summarise, we expect that those who stake OCC and ‘forget’ about it will have the most to gain over a long-term horizon. This really is a passive and long-term way to gain exposure to the hottest IDOs on our platform.
We hope this clarifies the CED process!