How to profit from Burning and Staking on ROCKI
🚀 New burning coming, and how to profit from Burning and Staking 🚀
Mining rewards will start to release from the 4th of March 2021, at 12:00 UTC+0. However, you can now burn in advance.
Summary of the Burning cycle #1:
We announced and started the first burning cycle #1 started on 31st December 2021, and lasted for three weeks. Here is a brief summary of the last burning cycle, #1
3600+ ROCKI burnt in the contract
40+ users and 100+ artists participated in the burning event
30,000 ROCKI distributed to users and artists (50%/50%)
APY was approximately 7000% during the burning event
As we stated in the previous announcement, you can burn for your favorite artists, and you can potentially get profit (or loss) from the burn.
Burning cycle #2
According to the performance of Burning cycle #1, we have adjusted the reward levels for the next staking run to maximize the benefit for every stakeholder and to release the ROCKI token in a sustainable way. The new burning cycle will be:
22,500 ROCKI total rewards for artists and burners, split 1:1
Release duration for burner: 45 days
Release duration for artists: 75 days
Maximum burnable amount per wallet: 500 ROCKI
Please feel free to join the burn, the earliest you join, the best chance you can get more from the burn!
The releasing algorithm of Burning and Staking
Some stakers, burners, and artists might feel confused about the vesting and claimable ROCKI in staking and burning. Here is the detailed explanation and example:
Assume the total mining pool is 8,000 ROCKI, the Total staked amount is 10,000 ROCKI, User A staked 1,000 ROCKI for Artist B, release duration for is 8 days. The approximate releasing scheme will be as following:
The reward of staker can be easily calculated as follows:
Staker earn per day = (User staked ROCKI / Total staked ROCKI) * Total mining pool / Releasing duration / 2
For the previous example, User A earn per day = 1,000 / 10,000 * 8,000 / 8 / 2 = 50 ROCKI per day
As rewards are split 1:1 between User and Artist, the total rewards for the Artist B equal to the total rewards for User A, but the releasing schedule is different. All ROCKI earned via staking for artists are locked at the start, and the unlock schedule can be calculated as following:
Artist unlocked ROCKI in Day N = (Stakers earned at Day N + Artist Locked at Day N-1) / (Days until the end of staking)
For the previous example, Aritst unlocked ROCKI in Day 2 = (40+35)/7=10.71
In short, stakers earn rewards on a linear basis and there is no lockup, while artists earn ROCKI in an increasing speed. At the end of the staking, all rewards for artists will be unlocked. Stakers and Artists will earn the same amount at the end of the staking.
How to benefit most from Burning and Staking?
We set up staking and burning to allow our users to participate in the community mining of the ROCKI token and to support their favorite artists. We encourage every community member to take part in staking and burning process to maximize their profit.
As stakers can earn ROCKI from staking without losing any tokens, if you have extra ROCKI, you can put it into the staking pool to earn a sustainable reward. We will adjust the reward levels for the staking runs to make it sustainable and profitable for every stakeholders in the community.
For the burners, there is a small hint. You can probably earn back more than you burn. For example, if the total reward is 20,000 for burners and artists and there is only 5,000 ROCKI burnt, the burner can actually earn half of the reward which is 10,000 during the burning cycle. This means if you burn early and decisively from the first day, you can earn more than you burn.
You just need a little bit of courage and calculation 😃
Team ROCKI
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Follow ROCKI:
Official website: https://www.rocki.com/
Twitter: https://twitter.com/RockiApp
Telegram:https://t.me/rockiapp
Medium:https://medium.com/rockiapp
