Staking Protocol

A brief introduction to the staking mechanism and its inner workings

Staking is open to anyone who holds GOLD 1, and unlocks two major benefits in the ecosystem, defined below:

• Stakers receive the Maia token, enabling rewards from the Gold Mine

• Stakers earn rewards based on the Gold Mine

These three tenants also have the added benefit of taking GOLD 1 out of circulation, thus creating scarcity and price appreciation.

Staking Mechanism

The staking mechanism itself is quite standard: the amount of reward each staker receives is directly proportional to how much GOLD 1 they have staked in the pool; given by this equation:

$$userReward=totalRewards * (userShare / totalSupply) ​$$

Withdrawing

If you ever decide to un-stake from the system, the Maia tokens you posses will be burned and exchanged for a 96% equivalency of GOLD 1.

The minimum staking time is presently 604800 seconds (7 days). All Stakers are eligible for rewards based on the formula above, and are able to claim their rewards anytime. However, to withdraw their principal, they must wait the entire 7 days (minimum staking period is subject to change via on-chain proposal and community vote). There is no penalty for withdrawal.

If the staker has rewards waiting to be claimed and decides to add to their current staked principal, the rewards will be auto claimed upon the staking transaction and will be sent to their wallet.

A full “How To” guide will be developed to showcase the entire staking flow as an accompaniment to the dapp.