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Staking mechanism

As described on the staking overview page, BNRX holders can lock their tokens to receive part of the platform's income.
This works as follows:
  • A user picks a lock period (counted in quarters) and locks his BNRX tokens on the platform for that period.
  • Once the tokens are locked, for the duration of the lock they are assigned a weight. The longer the lock is, the bigger the weight. More specifically, if the user locks his tokens for
    tt
    quarters, then the weight of these tokens is calculated as
w(t):=min(3,3×(t16)0.7)w(t) := {\sf min}\bigg(3, 3 \times \bigg( \frac{t}{16} \bigg)^{0.7}\bigg)
  • Staking rewards are distributed proportionally to weighted tokens.
Example: suppose that there are only 5 tokens locked in the system, and they are locked by users A, B, and C respectively. The staking rewards distribution is then calculated as follows
User
A
B
C
Number of tokens
2
2
1
Lock period
4 quarters
10 quarters
16 quarters
Weight of locked tokens
1.137
2.159
3
Weighted tokens
2.274
4.318
3
Share of staking rewards
23.7%
45%
31.3%
At any moment users can also prolong their tokens or forcefully unlock them:
  • At any moment a user can prolong his lock. If
    ss
    quarters remain in users’ current lock and he chooses to prolong his lock for
    tt
    more quarters, then during these
    tt
    additional quarters the weight of his tokens will be given by
    w(s+t)w(s+t)
    .
  • At any moment a user can forcefully unlock his tokens. Upon doing so, he will receive
    (704.66p)%(70- 4.66p)\%
    of the tokens he locked, where
    pp
    is the percentage of users who've forcefully unlocked their tokens during this quarter. The rest of the tokens are paid as a fee to the Binaryx DAO, and are afterwards distributed among other BNRX token holders.