Deep dive into xSUB: Staking, unstaking, and allocations
In the last article, we talked about Subpad and why it is worth taking part in sales held at our launchpad. The innovative mechanics of the Subpad with sophisticated and numerous smart contracts bring the anti-whale mechanics and promote the long-term value for investors.
In this article, we will delve deeper into the mechanics behind the xSUB — a non-transferable token, which opens the possibility of early-stage investing in the hottest projects on the market.
What did you want to know about xSUB and were afraid to ask?
It was mentioned in the article before, but we believe that it is important to keep in mind one of the most crucial equations:
100 SUB locked for 1 year (360 days) = 1 xSUB
As you can see in the equation the time of locking SUB can make a difference in the number of xSUB received and therefore the size of the allocations.
How to create and stake xSUB?
You cannot have xSUB without the $SUB token — the heart and soul of the Subme ecosystem. Purchase the SUB tokens from PancakeSwap — you can find the $SUB by the official contract address provided below:
When the SUB is already in your Metamask wallet, there comes the fun part of locking and enjoying the xSUB.We will show you the way step by step.
- Connect your wallet and enter the amount of SUB and/or SUB-LP tokens that you wish to stake. This is the estimated value, and you can get a slightly smaller amount due to the time of the transaction. For example, if the transaction would take 2 minutes, you would get i.e. 0.99996 xSUB instead of 1 xSUB. These numbers are insignificant, so there is nothing to worry about.
- Enter the number of days, that you wish to lock your tokens for (the minimum is 7 days, maximum is 1080 days)
- Once you enter the amount of the tokens and the days to lock them for, the calculator will show the amount of xSUB that you will get.
- You will be able to add more tokens during the lock period, but you will not be able to increase the duration of the lock period.
- Once the lock period is over, the 10% exit tax will be deducted from your SUB and/or SUB-LP tokens while unstaking to incentivize users for a long-term commitment.
- If you are staking for the first time, you will need to approve the SUB and/or SUB-LP tokens first.
- You can now click “Claim xSUB”.
- Confirm the transaction in your MetaMask (or through other) wallet.
- Once the transaction is confirmed, you will get xSUB on your wallet.
- You can add xSUB to your MetaMask by clicking on the yellow icon next to the xSUB.
That’s it! Now you can use your xSUB in the fundraising pools. In the next steps we will show how to unstake your SUB and SUB-LP tokens.
- You can add more tokens to the existing staking pool, but you cannot extend the staking period once it has been chosen.
- You will not be able to unstake your tokens until the lock period ends.
How to unstake SUB and/or SUB-LP tokens once the lock period ends
- In the calculator you will need to first release and then withdraw your SUB and/or SUB-LP tokens.
- Click “Release xSUB” and accept the transaction on your MetaMask.
- Once the transaction is confirmed, your xSUB tokens will be burned and you will be able to unstake your SUB and/or SUB-LP tokens.
- After the “release” transaction is confirmed, click “Withdraw xSUB”.
- The SUB and/or SUB-LP tokens will be transferred back to your wallet.
- 10% exit tax will be deducted from your SUB and/or SUB-LP tokens once the staking lock period ends while you unstake/withdraw your tokens. The tax is distributed among long-term stakers to promote xSUB holders and half of it will be used for SUB burning.
The more and longer you stake SUB the better rewards and allocations you will get from the xSUB. Even though it seems complicated the system is straightforward and we hope you will love it and get into some amazing gems with us.