Staking is here… for both ORCA and Collectibles!
You’ve been asking for it, and as part of our Fall Festival, it’s finally surfaced: Staking!
For the next few weeks, you’ll be able to deposit your $ORCA and Collectibles in Staking Pools to earn — you guessed it — more $ORCA.
Deposit your tokens now at orca.so/staking to start earning rewards when they begin on Tuesday, Sep 28 at approximately 20:00 UTC. (This ensures everyone has an equal chance to earn rewards, even if they’re asleep when this post is released! 😉)
What is staking?
If you’re new to DeFi, the whole concept of staking can be confusing, so let’s take a moment to explain. For a limited time, you’ll be able to deposit tokens in a Staking Pool to earn $ORCA rewards from the Treasury. (As a reminder, 0.04% of each trade on Orca goes to the Treasury!)
Like Aquafarms, rewards are proportional to the amount you’ve deposited relative to everyone else in the pool.
Unlike Aquafarms, you only have to deposit one type of token, so there’s no risk of impermanent loss — just simple, easy-to-love yields!
Here at Orca, we pride ourselves on being a community-driven protocol. Staking is our first experiment with using the Orca Treasury to offer our loyal token holders (and Collectible-holders) tangible rewards in the form of $ORCA. After a few weeks, we’ll evaluate whether to continue the Staking Program or explore other ways to reward our community. Read on or watch the tutorial below to learn how!
Been HODLing your $ORCA? Your patience has been rewarded: You can now deposit it into the brand-new $ORCA Staking Pool to start reaping the rewards!
The total rewards for the 2-week period from September 28 to October 12 will be 65,000 $ORCA. Rewards will then be adjusted approximately every 2 weeks after that, on the same schedule as Aquafarms.
Did you know that orcas have a well-developed sense of hearing (through the jawbone, no less)? You’ve been telling us that you want more concrete use cases for your Collectibles, and we’ve been listening!
That’s why, for the duration of Fall Festival only, there will be a Staking Pool for every Collectible! That’s right — from September 28 to October 11, you’ll be able to deposit your Collectibles to earn a share of the following rewards:
(listed as COLLECTIBLE NAME: [total rewards per pool] — [estimated return per token], if every distributed token is deposited for the full 2 weeks and the price of $ORCA is $15 USD)
GUPPY: 52,500 $ORCA — $80
STARFISH: 3,000 $ORCA — $25
CLOWNFISH: 20,000 $ORCA — $215
PORPOISE: 20,000 $ORCA — $300
WHALE: 10,000 $ORCA — $3,000
KILLER WHALE: 500 $ORCA — $7,500
These amounts were chosen based on the rarity and circulating supply of each Collectible, which can be found at orca.so/collectibles. For more information about these fishy friends, including how they were originally earned, check out our Collectible History doc!
Building a loyal pod
In short: you can think of staking as a little “thank you” for our loyal podmates. Rewarding our community is something we take seriously, and we have more ideas brewing on that front. We can’t say too much just yet, but they may involve a more… so-fish-ticated NFT project 😉
This feature was a true whirlwind (design to ship in just two weeks), and we hope you’ll have as much fun using it as we did building it. Happy staking! 🌊
Because you’re a curious pod — some FAQs:
Where do the rewards come from?
The ORCA Treasury! 0.04% of every trade on ORCA goes to the ORCA Treasury. From the ORCA Tokenomics post:
“The Orca Treasury is a DAO that ties the value of the ORCA token to Orca itself. The accumulated fees may be used to fund development, manage the token supply through buy-backs, or other initiatives that support the long-term health of the Orca protocol.”
Why is this a limited-time campaign?
Treasury funds aren’t unlimited, and neither is the creativity of our team and community! Like all features on Orca, we’ll observe how you use the feature, conduct user research, and listen to your feedback in our channels to decide whether staking is the best way to reward our community going forward.
Can I deposit more than one Collectible per pool?
There will be a reward pool for every Collectible, and you can participate in all of them! Plus, you can deposit multiple Collectibles per pool, so if you have 10 GUPPY, you can deposit all 10 to earn 10x the rewards compared to depositing 1 GUPPY.
Should I stake ORCA or provide liquidity on ORCA pools?
The yields on our Staking Pools are deliberately designed to be lower than the ORCA/SOL and ORCA/USDC Aquafarms. This incentivizes users to provide liquidity to our pools, which leads to better rates for traders — all part of a healthy marine ecosystem!
However, some users are bullish on Orca as a protocol and prefer to hold their ORCA, rather than swap half of it for another token. Others prefer not to actively manage their positions or are wary of impermanent loss. If you fall into any of the above categories, staking might be a good choice for some, if not all, of your ORCA.
Where can I buy or trade Orca Collectibles?
While Collectible markets are not officially sanctioned by Orca, you can find markets for all of Orca’s Collectibles here.
Disclaimer: The content of this communication is not financial advice and should not be relied on by any persons as financial advice. This communication has not been provided in consideration of any recipient’s financial needs. We have not conducted any financial assessment based on the personal circumstances of any recipients. All persons are encouraged to seek their own independent financial advice prior to taking any further action.