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Staking

SmartCredit.io staking lets SMARTCREDIT token holders earn weekly rewards by locking tokens in a staking Fixed Income Fund for a minimum of 90 days. Staking APY ranges from 40% to 80% depending on participation rate.

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Key Takeaways

  • SmartCredit.io allocates 2,415 SMARTCREDIT tokens per week to stakers, distributed every Sunday at 12:00 UTC.
  • Staking requires a minimum lock of 90 days - tokens staked for fewer than 90 days forfeit their rewards.
  • Staking APY is approximately 40% when 50% of holders stake, and approximately 80% when only 25% stake; rewards are shared pro-rata by volume.
  • Stakers can use gasless re-staking to compound rewards each week without paying gas.
  • Staking is implemented via a special staking Fixed Income Fund (FIF) with a single 91-180 day bucket; borrowers can also borrow from staking FIFs, generating additional yield.

SmartCredit.io allocates weekly 2,415 SMARTCREDIT tokens to stakers via smartcredit.io. See the short video "How to earn with staking?" for the introduction.

The rules for staking are:

  • Staking is implemented via the SmartCredit.io fixed-income funds-every staker must create a special staking FIF.
  • The staker must deposit for at least 90 days to receive the rewards. The staker can increase their staking position at any time by depositing more SMARTCREDIT.
  • If the user stakes for less than 90 days, they will lose their staking rewards.
  • The staker can cancel staking at any time with the "Request Withdraw" transaction. This will start the "cool down, which takes five days. The user can withdraw any amount within five days after the cool-down start. The remaining tokens are still entitled to the staking rewards if deposited for at least 90 days.
  • Users can either claim rewards or use gasless re-staking to re-stake their staking rewards.
  • Gasless re-staking allows to re-stake the staking rewards with 0 gas costs. Staking rewards are assigned every Sunday 12:00 UTC. Stakers could re-stake their rewards every week after that.
  • Gasless re-staking is a unique feature. The alternative is to claim the rewards (requires gas) and deposit the rewards (requires gas). Gasless re-staking allows the same, but without paying for gas!

The rewards in the “My Rewards” section will be updated every Sunday 12:00 UTC. "My Rewards" shows rewards only for the staking position, which is at least seven days old.

The weekly staking rewards for the user can be different week by week-it depends on how many others are staking their tokens. The staking rewards will be shared pro week, pro rata, and pro volume between all stakers:

  • If 50% of the holders will stake, the platform calculates with a 20% staking APY
  • If 25% of the holders will stake, the platform calculates with a 40% staking APY

Staking is implemented via the FIFs. While the regular FIFs have four buckets (0-10 days, 11-30 days, 31-90 days, 91-180 days), staking FIFs have only one bucket (91-180 days). The staking FIF buckets are not shown on the screen - only one bucket.

Borrowers could borrow from the staking FIFs, and the stakers would earn an extra yield on their staking FIF.

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Further info