Launching Raindrop Staking Program
Following our token listing on Dcoin on December 12th, SesameOpen is launching the beta version of our Raindrop product. Raindrop is designed to reward loyal community members on an ongoing basis with free SO tokens based on their support for the project’s goals. Initially, we are structuring Raindrop as a staking program and have invited some of our most active supporters to become Community Leaders, earning token rewards for themselves and their community members.
Here are the details of SesameOpen’s Raindrop staking program. A more detailed FAQ is available in this Medium post. To ask additional questions, find us in our Telegram or Kakao group.
Eligible Communities
Only selected communities will be eligible for staking rewards. These communities can be found at https://raindrop.sesameopen.network/ and are:
Led by some of our most active community members and partners, any individual interested in staking must join at least one of these communities and stake through the Raindrop website. For a full walkthrough on how to stake, visit our Medium post providing step-by-step instructions.
Staking Program Timing
Community Leaders have already been growing their communities and getting them ready for staking. Here is the full timeline related to the staking program:
- Thursday, December 12th: SO token started trading on Dcoin
- Saturday, January 18th: Staking window opens on Raindrop website; airdrop token recipients must connect to smart contract
- Friday, January 31st: Staking window closes; snapshot taken and staking period begins; airdrop tokens distributed through smart contract
- Feb 1st— Feb 29th: Staking period; any withdrawals forfeit rewards
- Saturday, February 29th: Staking period ends; staking rewards calculated
- Saturday, March 7th: Staking rewards distributed to smart contract and can be withdrawn to exchange partner (KYC/AML required)
Staking Rewards
Staking community members receive a reward according to the rules below based on the amount of SO token that they stake for the full month-long staking period. All token rewards are released into the smart contract at the end of the staking period, as described in the schedule above. Community members withdraw their rewards from the smart contract through a designated exchange which provides KYC/AML.
- Minimum staking amount is 10 SO tokens
- No maximum staking amount
- 8% staking reward for staking amount <100 tokens
- 25% staking reward for staking amount from 100–400 tokens (reward applies to entire amount of stake)
- 3% staking reward for staking amount >400 tokens (first 400 tokens earn 25%, the amount above earns 3%)
- Members can remove any or all of their staked token from the smart contract at any time, but by withdrawing any amount, they forfeit all staking rewards
Staking Community Member Reward Examples:
- Member stakes 600 SO tokens for the full month-long staking period → Member receives reward of 106 SO tokens (25% of 400 tokens + 3% of remaining 200 tokens staked)
- Member stakes 50 SO tokens for the full month-long staking period → Member receives reward of 4 SO tokens (8% of staking amount)
- Member stakes 1,500 SO tokens, but withdraws 300 SO tokens before the end of the staking period → Member receives no reward because they withdrew some portion of their stake before the end of the staking period
Questions? Ask the Community Leader whose group you have joined, or ask SesameOpen in our Telegram or Kakao group.
