With the successful reservation of the 100 ZoidPay Shopping Pools, we are now set to enabling ZPAY staking. We are excited about opening up one of the most innovative ways of staking crypto, allowing you to not just earn a high staking reward, but also indulge in shopping, stand the chance to participate in raffles, receive staking yield boosts of up to 50% and lots more.
While we will release detailed guides on how to stake your ZPAY, here are some MUSTS to know of ahead of staking:
- You need to stake a minimum of 1000 ZPAY tokens
You can stake any amount of ZPAY tokens, beyond the mandated 1000 ZPAY needed to join a Shopping Pool.
Do not stake an amount below 1000 ZPAY tokens. Doing so will result in your ZPAY tokens getting locked up for a period of at least 30 days, pending the monthly refund snapshot. Also, you will earn no returns on such tokens mistakenly sent out. So, you cannot stake 1 ZPAY or 999 ZPAY or any number between that. Please avoid doing so, and save yourself the stress and us the bother.
2. You can only stake ZPAY by joining a Shopping Pool
We have recently successfully completed the reservation of 100 Shopping Pools. To stake ZPAY, you need to join one of these 100 Shopping Pools.
Remember, all of the 100 will offer the basic stated benefits: APY, cashback, etc. However, the innovativeness and entrepreneurial spirit of the Shopping Pool owners will define what added benefits a pool offers. So in the beginning, all pools launch at the same starting line.
We will be releasing the staking page soon, and upon logging in you will see a list of all 100 pools. It’s your choice which pool you wish to join. Besides, pool owners may even share a link to their specific pool. So, either works. Bottom line, staking ZPAY is only possible by joining a Shopping Pool.
3. The basic APY that you can earn is up to 12%
Pictured above are the four time durations of staking ZPAY: 1 month, 3 months, 6 months, and 12 months. Staking ZPAY for a period of 12 months earns you an APY of 12%. Thus, if you stake 10,000 ZPAY, you will have earned 1200 ZPAY at the end of 12 months. We will provide a staking calculator on our staking homepage, which will allow you to see how many ZPAY you can earn. Remember though that if you chose a certain time period, your ZPAY will be locked for that period. So, if you chose a 3 month staking period, you will not be able to withdraw your ZPAY for 3 months.
4. Staking rewards are paid every month
Extending the previous example of staking 10,000 ZPAY, which yields 1200 ZPAY for 12 months. You will receive your benefits every month. Thus, you will receive 100 ZPAY each month for 12 months. This has been done to offer liquidity, allowing you to even shop via the Chrome Extension using crypto.
5. There is a bonding and unbonding period for staking
Staking ZPAY comes with both a bonding and unbonding period. Thus, let’s say you offer your ZPAY for staking on 15 December. There is a bonding period of a maximum of 48 hours, before your ZPAY is staked. Thus, your ZPAY will be staked any time by the 17 December. This is because we carry out a staking snapshot every second day to commence individual staking.
Also, withdrawing ZPAY at the end of the staking period chosen will come with an unbonding period. This is a 7 day period, and you can expect to receive your unstaked ZPAY before the end of the 7th day.
We expect staking to go live on the 10 December. Stay tuned for more updates and details, so you are ready to stake your ZPAY tokens.
