Oiler Staking Expedition is about to finish. What’s next?

Antonio Sabado

Published in

Oiler Network

2 min readAug 20, 2021

Tomorrow afternoon, on Saturday, August 21st, 2021 the Oiler Staking Expedition will end.

After block 13068603, two things will happen:

You will no longer be able to DRILL, so there will be no new stakes and no new rewards.
You will be able to start withdrawing your OIL HARVEST.

If you still have an unfinished drill, you’ll be able to CEMENT it at any time, either before or after the program ends, there’s no fixed deadline for that, so no need to rush. Also, you need to CEMENT your latest drill to be able to start the HARVEST.

What is Harvest?

When you press HARVEST, your Extraction Power will be converted to OIL (the amount will depend on your Harvest Share). Your OIL Harvest reward will be vested linearly for the next 660000 blocks (~100 days) after the block 13068603, this means that every block you will be able to withdraw a bit more of your OIL Harvest.

How can I withdraw my OIL rewards?

You can withdraw your vested rewards at any time, and do the withdrawals as many times as you want; every day, every hour or even at every block. But of course you need to pay gas for each transaction, hence, it’s better to not do that too often. You can also withdraw everything at once anytime after 100 days, we have not introduce any deadlines or time limitations for withdrawals.

LPs are still yours

You still own and hold your Uniswap OIL-USDC LP tokens. You can continue holding them to earn the fees from Uniswap, or you can withdraw the liquidity at any time, that’s completely your decision.

Staking statistics

We have more than 200 different addresses staking with 330+ stakes
The largest stake was worth $510,339 (locked for 85 days)
The smallest stake was worth $1.99 (locked for 99 days)
Median stake is $2,400 (which means that half of the stakes were less than $2,400)
80% of stakes were less than $10,000
Total value locked is $2.23 million

We will release more detailed statistics after the expedition ends and once all the data settles.

What’s next?

We’re constantly researching and thinking about ways our OIL utility token can be used and new ways to reward and incentivise our most active users. So the fun doesn’t end with the Staking Expedition. Stay tuned for further programs!

Legal Notice:

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