With FIEF staking, users lock up their tokens for a period between 3 months and 2 years. In return for locking up their tokens, they receive a non-transferrab`le receipt token called Staked FIEF (sFIED). The amount of sFIEF received is lock-period dependent with a max of 1 sFIEF : 1 FIEF if the 2 year period is chosen.`
As an example, a staker who locks up 10 FIEF for one (1) year will receive the same amount of sFIEF as a staker who locks up 5 FIEF for two (2) years.
The amount of received sFIEF following initial lock decays linearly over time until the end of the lock date. If you desire to maintain your sFIEF balance, you can simply stake more FIEF or increase your lock period if you previously chose a period < 2 years.
Tip 1: You can never decrease your lock period after your initial stake. Therefore, please review your decision in depth before committing to staking your FIEF.
Tip 2: The lock period rounds to the nearest week – this is why you might see a slight discrepancy between the date you select and the date in which your lock period concludes.
Tip 3: Staking analytics update every 30 minutes. APR is calculated on a weekly basis.
A weekly FIEF distribution will be made to the pool of sFIEF holders. The sources of these rewards are protocol fees (real yield) from across the growing Fief platform.
Distributions are made for claim every week starting the week of September 12, 2022. It takes 8 days from the first Thursday after which you stake FIEF before you can claim rewards. Rewards are usually available around 0:00 UTC on Thursdays.
The amount of FIEF an individual user receives is determined by protocol usage and their percentage of the total sFIEF supply. In our early stages, we will be using a rolling fee distribution method where we reassess the weekly rewards based on the previous month’s protocol usage. This reassessment period will decrease as we scale.
A 0.5% Fief fee is applied to all reward claims.
In addition to the weekly FIEF rewards paid out to stakers according to their sFIEF balances, users will also earn daily Influence Points (IP) for locking up their FIEF.
1 FIEF Locked = 0.03 IP / Day
Accrued IP is attached to your wallet and is non-transferable. All spent IP is burned upon use.
FIEF Contract Address: https://etherscan.io/token/0xeA068Fba19CE95f12d252aD8Cb2939225C4Ea02D
sFIEF Contract Address: https://etherscan.io/token/0xa886c732703700efcbd8438768822c8e716cb0ec