🥩CHAIN Staking
Learn about the 2.0 version of Staking CHAIN token currency instructions.
Overview
Using the Stake CHAIN token's feature, users are able to earn more CHAIN token. To accomplish this, you should pay attention to the minimum stake in the contract of the CHAIN token. You should be aware beforehand that you will have this amount of tokens. Eventually, Zentachain may change the minimum stake for CHAIN tokens. As a result, the user is fully in control of when they want to stake and unstake there CHAIN's.
Pools
The Zentachain contract contains a struct called PoolInfo, which stores information related to a particular pool. Each pool has its own set of parameters that are defined in the struct, such as the APR (Annual Percentage Rate) that the pool offers, the maximum amount that can be staked by a user, the minimum stake amount that is allowed, and the time locks for unstaking and claiming rewards.
The struct also keeps track of the total number of stakers in the pool, the total amount of tokens staked, and the total rewards earned. Additionally, the struct includes a flag to indicate whether or not the pool has been created.
By using the PoolInfo struct, the Zentachain contract is able to manage multiple pools simultaneously, each with its own unique set of parameters and rules. This allows users to choose the pool that best suits their needs and provides a flexible and customizable platform for staking and earning rewards.
Minimum
Zentachain contract represents the minimum amount of CHAIN tokens that a user must stake in order to participate in the pool. This parameter is set by the pool creator and is designed to ensure that all participants have a minimum level of commitment and investment in the pool.
By setting a minimum stake amount, the pool creator can also ensure that the pool has a sufficient amount of liquidity to operate effectively. This can help prevent situations where a large number of users join the pool with only small amounts of tokens, which can make it difficult to manage the pool's resources effectively.
The minimum Stake Amount field is expressed in units of CHAIN tokens, which is the native token of the Zentachain platform. Users who want to participate in the pool can purchase CHAIN tokens on a cryptocurrency exchange and then stake them in the pool in order to earn rewards. The minimum stake amount ensures that the pool remains viable and that all participants have a minimum level of investment in the pool.
Example: Increased Market Min Staking Amount -
Example: Decreased Market Min Staking Amount +
Stake
Staking refers to the process of placing a certain number of CHAIN tokens into a stake in order to participate in the decision-making process and potentially earn rewards. To stake your CHAIN tokens, you will typically need to use the decentralized application (DApp) or interface provided by Zentachain.
On the Zentachain platform, staking can be done through the staking dashboard, which is available through a web3 wallet such as Metamask, Trustwallet, Brave Wallet, or MEW Wallet. Before you begin staking, it's important to make sure that you have purchased the minimum amount of CHAIN tokens required to participate in the staking program. This minimum amount may vary and can be viewed in the dashboard overview.
Once you have the necessary min amount of CHAIN tokens and have accessed the staking dashboard, you can begin the staking process by following the prompts and instructions provided. Keep in mind that staking your CHAIN tokens will trigger the reward process immediately, so you can start earning rewards as soon as your stake is confirmed.
Rewards
The PoolInfo struct of the Zentachain contract includes an APR field, which stands for "Annual Percentage Rate." This field represents the rate at which users can earn rewards for staking their CHAIN tokens in the pool.
When a user stakes their CHAIN tokens in the pool, they become a "staker" and are eligible to earn rewards in the form of additional CHAIN tokens. The rewards are calculated based on the APR that is set by the pool creator and are distributed to stakers on a regular basis, typically daily or weekly.
For example, if the APR of a pool is set to 10%, a user who stakes 1000 CHAIN tokens in the pool can expect to earn an additional 100 CHAIN tokens in rewards over the course of a year, assuming that they leave their tokens staked in the pool for the entire year.
Total Rewards
The total rewards earned field in the PoolInfo struct of the Zentachain contract represents the total amount of rewards that have been earned by all stakers in the pool. This value is updated each time a staker earns rewards from the pool.
The total rewards earned field is an important metric for both pool creators and users, as it provides a measure of the overall profitability of the pool. A higher total rewards earned value generally indicates that the pool is performing well and that stakers are earning a significant amount of rewards.
By tracking the total amount of rewards earned in the pool, the Zentachain contract provides a transparent and reliable way for users to monitor the performance of the pool over time. Additionally, by incentivizing users to stake their tokens in the pool through rewards and other mechanisms, the contract encourages greater participation and helps to ensure that the pool remains well-funded.
Claim Rewards
The rewards earned by stakers can be claimed at a later time, subject to any time locks that may be in place. By offering rewards in the form of additional CHAIN tokens, the Zentachain contract incentivizes users to participate in the pool and helps to ensure that there is a sufficient level of liquidity and participation to keep the pool functioning effectively.
Unstaking
Each pool in the Zentachain contract can have its own unstake time lock value, which is set by the pool creator. This means that different pools can have different time locks depending on their individual parameters and requirements.
When a staker initiates an stake transaction, they must wait for the unstake time lock period to expire before their tokens are released from the pool and become available for withdrawal. During this time, the staker's tokens remain staked in the pool but are eligible to earn rewards.
The unstake time lock field is an important feature of the Zentachain contract, as it helps to ensure the stability and security of the pool over time. By requiring stakers to wait a certain amount of time before they can withdraw their tokens, the contract discourages short-term speculation and encourages long-term participation in the pool. This can help to create a more sustainable ecosystem for stakers and token holders.
Compound
In the Zentachain contract, users can add more CHAIN tokens to their existing stake in the pool at any time by simply staking more tokens. When a user stakes additional tokens, the unstake timer is reseted. However, the rewards that the user has already earned are not affected and will continue to accrue based on the new staked balance of the tokens.
This means that users can add to their staked balance without worrying about losing any rewards that they have already earned.
By enabling users to add to their staked balance at any time, the Zentachain contract provides a flexible and user-friendly way for users to participate in the pool and earn rewards over time. Additionally, by ensuring that existing rewards are not lost when additional tokens are staked, the contract provides a reliable and consistent source of income for stakers, which can help to encourage continued participation in the pool and ensure its long-term success.
Annual Percentage Rate
The APR is an annual percentage rate (APR) is the real rate of return earned on an investment, taking into account the effect of compounding interest. CHAIN tokens will enter the market in 2023 with an APR of 10%. The APR will be changed by Zentachain even if the market is rising or falling.
Example: Increasing Market APR +
Example Two: Decreasing Market APR -
Total Stakers
The total stakers field in the PoolInfo struct of the Zentachain contract represents the total number of users who have staked their tokens in the pool.
Each time a user stakes their CHAIN tokens in the pool, the total stakers value is incremented. Similarly, when a user unstake their tokens from the pool, the total stakers value is decremented.
The total stakers field is an important metric for pool creators and users alike, as it provides an indication of the level of participation in the pool. A higher number of stakers generally indicates a greater level of interest in the pool and can help to attract more users and increase the pool's overall liquidity.
Total Staked
The totalStakedAmount field in the PoolInfo struct of the Zentachain contract represents the total amount of tokens that have been staked by all users in the pool. This value is updated each time a user stakes or unstakes tokens from the pool.
The totalStakedAmount field is an important metric for both pool creators and users, as it provides a measure of the overall liquidity of the pool. A higher totalStakedAmount value generally indicates a greater level of participation and commitment from users, which can help to make the pool more stable and secure.
By tracking the total amount of tokens staked in the pool, the Zentachain contract provides a transparent and reliable way for users to monitor the health and vitality of the pool. Additionally, by offering rewards to users who stake their tokens in the pool, the contract incentivizes greater participation and helps to ensure that the pool remains well-funded and stable over time.
Start Staking CHAIN
This guide is designed to make it easy for you to understand how staking works and how to get started without having to worry about any technical details.
Last updated
