All Sovryn rewards, earned-staking fees, and relevant history can be viewed within the 'Rewards' tab. From this tab, you can:
The 'Reward SOV' tab will display the total amount of all claimable SOV rewards.
NOTE: All claimed SOV rewards undergo a vesting period that begins once the reward SOV is claimed. Claimed reward SOV vests over 40 weeks with a maximum 4-week cliff. Once the cliff has been reached, 10% of SOV becomes vested. At that point it is unlocked and fully available to the recipient. Every four weeks thereafter, an additional 10% is vested, unlocked, and available to withdraw. This process continues until the entire amount is vested.
The protocol executes an unlock event every two weeks on Fridays at 10:28:15 UTC. (For reference, the first Friday unlock event in 2022 was on 01/14/2022.) After SOV is claimed by a user, 10% of the claimed SOV unlocks at every other unlock event. That is, every four weeks 10% becomes vested and available.
The cliff (first unlock for claimed SOV) is set to the second unlock event after the reward SOV is claimed. This guarantees that the cliff is between two and four weeks.
The 'Liquid SOV' tab displays the total amount of all claimable reward SOV earned via staking.
NOTE: Claimed SOV not voluntarily staked does not increase voting power and does not earn fees. Such SOV becomes liquid at the current market value.
The 'Fees Earned' tab displays the total amount of all claimable earned fees from voluntarily staking SOV.
NOTE: Voluntary staking liquid SOV increases your voting power, and you receive a percentage of the fees generated by the platform.
The relevant transaction history for each reward type is displayed below the reward selection area. While the type of reward may differ, the history details for each transaction are consistent across reward types. The history details include:
The contract that initializes the vesting schedule for reward SOV performs more operations than a regular contract, which uses liquid SOV tokens instead (tokens that can be transferred or sold). This contract transactions consume approximately 3,200,000 gas units in general. With a default gas price of 0.06 GWEI (0.00000000006), this results in a fee of $5.76 (~19,200 sat) with a Bitcoin price of around 30 000 USD (June 2022).
These operations additionally create:
Complex contract interactions consume more gas than usual RSK contracts.
APY stands for annual percentage yield, calculated without compounding interest.
A table is used to collect raw data for each pool token. The following information is recorded for each block:
The current computation accuracy is around:
The reason is that we have not captured data from every single block due to node errors (the current error handling allows for ten consecutive errors before moving on to the next block). We capture about 90% of block data and use an average of this to infer the rest. This makes almost no difference to the APY calculation from rewards but may make some small difference to the APY from fees.
We are working on improving the accuracy as we speak.
Stakers can earn anywhere between 3.57%% and 29.75%APY depending on the length of the stake (max three years). Staking for three years would see an initial return of 29.75%, which would decrease with the length of the stake to return an average of 20.84% over the whole staking period.
SIP 24 specified that the minimum APY would be set to 3.66%, and the average APY over a 3-year term would be 21%. These are the APYs that have been set on the smart contract. However, the actual minimum and average APY is given by the smart contract differs from that specified in the SIP because the figures given in the SIP did not take into account the mathematical rounding that is used by the smart contract. These are minute differences that cause the minimum APY to decrease by 0.07% and the average return over 3-years to decrease by 0.16%. A minor deviation, but a deviation nonetheless, which is why we feel it important to be communicated clearly.
To calculate the actual average APYs provided by the smart contract, use the calculator below.
To be included in this program's payouts, one needs to stake liquid SOV in the Sovryn Bitocracy voluntarily, meaning vesting SOV does not earn from the reward program. By staking, you will receive voting power to influence the direction of the protocol, a share of fees generated by the protocol based on your voting power, and liquid SOV from this initiative based on the length of your stake.
There are now a variety of methods to acquire liquid SOV.
Voluntary, fully vested Stakers are eligible to receive liquid SOV as part of the SIP-24 program. Definitions:
It is important to note that while the program may end after three months, the payment of SOV earned by participating in the program would continue. For example, if you had staked for three years but the program ended in 3 months, you would still receive the deserved payments for the remaining two years and nine months of your stake. The program end simply means that new stakes and extensions of existing stakes after that point would not earn additional SOV.
4. Select Unlock Schedule
5. View your unlock schedule dates, times, and amounts.