This page summarizes the figures and formulas related to Skeb Coin staking. This article will explain in detail the calculation of staking rewards by buyback, explain the penalties associated with withdrawal from the staking, and explain what Skeb Power and SBT badge are.
Usage of the Boughtback Skeb Coin
Skeb Coins will be bought back based on the profits of the Skeb Web2 platform. Boughtback Skeb Coin will be allocated to burn and staking rewards, with the ratio of them determined by governance votes, which took place irregularly.
How Staking Rewards are Calculated
The total staking reward is the sum of the staking reward calculated based on buyback, the carryover volume for the previous month, and the penalty volume for the previous month.
(staking rewards based on buyback+penalty+carryover)/days per term*shareholding ratio =staking rewards each person can get per day
As an example, let’s calculate the staked Skeb Coin per day earned by each individual by assuming that the amount allocated to staking rewards based on buyback is 25M Skeb Coin, the term is 30 days, and the total amount of carryover and penalty is 5M Skeb Coin.
(25M Skeb Coin+5M Skeb Coin)/30*10%=0.1M Skeb Coin/day
Note:
*Each individual’s staking volume is calculated based on the snapshot taken daily
*Term or days per term are defined as the 1st day of the month to the last day of the month
*Carryover means that unclaimed Skeb Coins added to the staking reward pool for the next month
*The staking volume ratio of each individual is the value obtained by dividing the individual’s holding volume by the total number of stakings. For example, if the total number of stakings is 100,000 Skeb Coin and the individual has 10,000 Skeb Coin, the staking volume ratio for each individual is 10%
Penalties
The penalty is the cost incurred when a participant withdraws Skeb Coin within a certain period after the start of staking, and a portion of the staked Skeb Coin will be recovered.
The penalty stipulates that 16% of the total staking amount will be recovered as a penalty if withdrawn within 14 days of the start of staking.
How to claim staking rewards
To receive the staking rewards, you need to make a claim yourself, please check the article for more information : Medium article
Skeb Coin rewards that are not claimed will be added to the next month’s staking reward pool and distributed to staking participants. Please note that if you fail to withdraw during the claimable period, you will not receive the reward.
Skeb Power
Skeb Power is the number of SBT badges to be distributed and calculated by the following formula.
Number of bonuses = Total number of stakings ^2 / 100000
Skeb Power = total number of stakings + number of bonuses
For example, if 10K Skeb coins are staked, 11000 Skeb Power will be distributed.
SBT badge
SBT stands for Soulbound Token and refers to non-transferable tokens. SBT is a tier system in which staking participants are divided into tiers according to their deposit amounts, and each tier is assigned a different badge that is used to determine the number of rewards to be distributed.
Tier Requirements
Tier 3: Top 5% addresses or 500 addresses
Tier 2: Top 40% addresses
Tier 1: All stakers
SBT tiers fluctuate based on snapshots taken at random timing. By offering stakers the chance to raise their tiers, we hope to build a better ecosystem.
Summary
In this article, we have explained the staking reward calculation methods, Skeb Power, and SBT Badge regarding Skeb Coin staking. 50% of boughtback Skeb Coin based on Skeb Web2 platform revenue will earn the staking reward and SBT badge. More staking rewards will be available in the future. Stay tuned!
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