League of Stakes Rewards Explained
An in-depth look at the rewards structure for League of Stakes!
The highly anticipated RiveX League of Stakes has officially gone live and we have already hit 6m+ total RVX staked from close to 400 addresses, with a total of 56% of the circulating supply staked! Thank you to our community for the massive support!
The team will be doing ongoing enhancements to display stats on the League of Stakes site — any feedback is welcome! We will decide on where to implement the feedback if suitable.
This article intends to explain and also validate the understanding of how the community can obtain the maximum rewards for League of Stakes.
The 0.9% Rewards Explained
Firstly, we have the weekly 0.9% rewards that will be given to any staked amount from any addresses — as long there is the minimum of 1 RVX staked (locked on the League of Stakes platform), the address will be entitled to the weekly 0.9% rewards based on the locked token balance amount. The rewards computed from the weekly 0.9% rewards will be displayed under the rewards section and it will be sent based on the ‘Day’ the address first did the deposit with the minimum of 1 RVX. This gives the flexibility for the participants to withdraw a portion or add more to their locked token balance before the first week is over. The weekly 0.9% rewards follow the platform timestamp during reward distribution.
Participants can choose to claim the rewards or just leave them unclaimed if they do not plan to withdraw as the reward amount will be automatically added to the locked token balance during the random weekly snapshot (used to determine the eligibility of an address to obtain the additional 0.3% extra rewards). Although this process is automated for those who intend to let their rewards compound, we still display the weekly 0.9% under ‘rewards’ so participants can view and access the rewards they have received before the weekly random snapshot.
The 0.3% Bonus Rewards Explained
As for the extra 0.3% bonus rewards, there are certain requirements to fulfill before the address is entitled to this distribution:
- The first requirement is the address will need to have received at least one weekly 0.9% reward distribution as the contract is using both ‘locked token balance’ and ‘rewards’ to compute, compare and determine the rewards entitlement.
- The next requirement is the ‘locked token balance’ of the addresses must be higher than or equal to the amount (sum of ‘locked token balance’ and ‘rewards’) of the weekly 0.9% rewards distribution according to the address initial stake ‘Day’.
This means that addresses that have done a withdrawal of any amount (min 1 RVX) after receiving their weekly 0.9% rewards, will not be entitled to the 0.3% as the computation amount of both ‘locked token balance’ and ‘rewards’ is lower than the current snapshot ‘locked token balance’ (rewards amount is added into locked token balance when the random snapshot is triggered).
When participants trigger a withdrawal process, it will first come from the amount listed under ‘rewards’ (if there are any) and then only from the locked token balance.
We also gave the option for participants to claim rewards first and use the withdrawal box 100% button if someone wants to do a full withdrawal during the middle of the 52 weeks. When an address is entitled to the extra 0.3% rewards, the rewards (computed from the sum of both ‘locked token balance’ and ‘rewards’ amount when the random snapshot triggered) will be added directly into the locked token balance instead of showing on the rewards section.
This model will create a balanced environment as well as cater to participants with different needs. Participants who wish to withdraw their rewards each week for a specific purpose can do so and will still be entitled to the weekly 0.9% rewards from their initial stake amount. As for participants who have their rewards compounded, they will be rewarded with an additional 0.3% extra rewards each week. This is to ensure that no participants that participated in this activity will be left out from any rewards. We also provide full flexibility to participants to withdraw or deposit anytime without any withdrawal lockup or unbond period.
Below is an example of rewards based on a 25,000 RVX initial stake without any withdrawal for the entire 52 weeks while also being eligible for the extra 0.3% rewards on week 1 rewards. (Week 1 on the table is the start of the payout).
How to get started with League of Stakes!
Start staking now:
League of Stakes Campaign
A campaign by RiveX to reward community who help promote League of Stakes.
Don’t forget to update to the latest version of RX Wallet which includes the League of Stakes Dapp: Download RX Wallet
• League of Stakes explained: Part One
• How to stake using RX Wallet and the Webapp: Part Two
• RX Wallet installation guide: Here
• How to use the 2Key LOS SmartLink to earn rewards: Here
PS: Remember to deposit a small amount of WAN for gas!
For anyone needing assistance installing the new wallet or getting started with League of Stakes, do reach out to us on Telegram!
RiveX is a chain agnostic interoperable layer-2 solution across different blockchain protocols. RiveX aims to empower the next generation of decentralized applications, decentralized finance and enterprise solutions. RiveX has comprehensive interoperable DeFi solutions such as RX Wallet which aims to integrate DAPPS from different blockchain protocols to enable an interoperable DeFi ecosystem within RX Wallet itself. The first DAPP which RX Wallet has already integrated is WRDEX. Another core product powered by RiveX is the world’s first cross-chain DEX called WRDEX.
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