We are very excited to be welcoming thousands of new $SIPHER token holders. As planned, we are now preparing for the next big thing: the staking of $SIPHER tokens.
We are very close to opening our staking portal, which will allow anyone to deposit their desired amount of $SIPHER tokens and start earning rewards. You will find everything you need to know about staking your $SIPHER tokens in this article.
So bring your favorite Salt Bae and let's get staking!
This means you have 24 hours to stake your tokens, and as such have more time, rather than rushing to stake right after you claim your tokens. We want to give everyone the chance to start collecting rewards from the very beginning of the staking pools' creation.
Note: The Sipher team might change the timing depending on unforeseen technical issues.
We are focused on rewarding long-term believers by adding a time-weighted element for calculating rewards. The following paragraph, explains the exact structure and how we calculate rewards:
Inspired by the previous token launches of our friends at Illuvium and Merit Circle, we decided to follow a similar structure of calculation for the liquidity mining rewards. This model perfectly rewards long-term stakers due to the time-weighted element for calculating rewards. After the token sale, all token holders (except tokens that have a cliff (locked) or vesting period - see Token Vesting) are able to stake the tokens within two different vaults:
When staking your tokens, you can choose the lockup (stake) period, ranging from 0 (flexible) to 12 months (locked). The longer your $SIPHER tokens are locked up, the higher the respective share of the pool and, therefore, the higher your rewards.
Below you will find a couple of examples of how this mechanism will work. We calculated the differences between flexible (unlocked) or locked for six months, nine months, and for a year: