Staking FAQ
27 Apr 2023 · 6 min read
Staking
Staking
THOL
THOL
NFT
NFT
Q: What are the benefits of staking THOL and NFTs on AngelBlock?
Staking THOL and NFTs on AngelBlock provides users with rewards in the form of additional THOL tokens. By staking, users will also unlock enhanced benefits on the AngelBlock platform as well as supporting the AngelBlock ecosystem and contributing to its stability and growth.
Q: How are the staking rewards calculated?
The initial APY for staking THOL tokens is set at around 20%. However, this rate can fluctuate based on various factors, including the total amount of THOL tokens and NFTs staked, as well as the value of staked NFTs. The value of staked NFTs depends on aspects such as the floor price, the price of Ethereum (ETH), and the THOL token price, which can all impact the rewards rate.
Q: On which blockchain can I stake THOL and NFTs?
Currently, you can stake THOL and NFTs on the Ethereum blockchain.
Q: Is there a minimum amount of THOL or NFTs required to stake?
There is no minimum amount of THOL or NFTs required to stake on AngelBlock. You can stake any amount of THOL or any number of NFTs you have in your connected wallet.
Q: How long do I need to stake my THOL and NFTs to start earning rewards?
You start earning rewards as soon as your staking transaction is confirmed on the blockchain. Rewards are accrued daily and auto-compounded.
Q: How do I claim my staking rewards?
To claim your staking rewards, you need to unstake your THOL tokens. After the 10-day unlocking period, you can click on "Release THOL" to credit the tokens to your wallet. Remember to have some ETH in your wallet to cover the gas fees for claiming your rewards.
Q: When can I unstake?
You can unstake your THOL and NFTs at any time. However, there is a 10-day unlocking period for THOL tokens during which you won't receive rewards. NFTs are not subject to any unlocking period.
Q: Can you stake THOL & NFTs in one transaction?
Yes! You can batch the transaction and stake both THOL & NFTs in the same transaction to save on gas fees.
Q: How many NFTs can you stake in one transaction?
You can stake as many NFTs as you have in the connected wallet.
Q: Will staking multiple NFTs greatly increase the staking costs?
Staking multiple NFTs at once is slightly more expensive than staking a single NFT but is much more cost-effective than staking NFTs one-by-one.
Q: If I have only staked NFTs, what happens to the THOL earned by staking the NFTs?
The THOL earned from NFT staking is added to your THOL rewards and auto-compounded. If you want to receive your THOL rewards in your wallet, you need to unstake it separately. If you keep it staked, it will continue to earn staking rewards.
Q: How long does it take to unlock my THOL and NFTs?
After unstaking, THOL tokens have a 10-day unlocking period. NFTs are not subject to any unlocking period and will be available in your wallet immediately after unstaking.
Q: Will tokens yield rewards during the unlocking period?
No, if you choose to unstake, there will be a 10-day waiting period during which you won't receive any rewards.
Q: Can I stake tokens during their unlocking period?
No, you cannot stake tokens during the 10-day lockup.
Q: Can I add more THOL or NFTs to my existing stake?
Yes, you can add more THOL or NFTs to your existing stake at any time. The additional THOL or NFTs will start earning rewards immediately upon staking.
Q: Is there a maximum duration for staking?
There is no maximum duration for staking on AngelBlock. You can stake your assets for as long as you want, and your rewards will continue to accrue daily.
Q: Can I stake from multiple wallets?
Yes, you can stake from multiple wallets. Each wallet will be treated as a separate staking account, and rewards will be calculated based on the staked assets in each wallet.
Q: Can I stake on AngelBlock using a hardware wallet?
Yes, you can stake on AngelBlock using a hardware wallet, such as Ledger or Trezor, through the WalletConnect option.
Q: Can I stake with Ledger if I connect it with Metamask?
Yes, you can stake with a Ledger hardware wallet by connecting it to MetaMask. This allows you to interact with the AngelBlock staking platform securely through your Ledger device.
Q: Must rewards be claimed on AngelBlock website or will they be automatically sent to my wallet?
Rewards must be claimed on the AngelBlock website. They will not be automatically sent to your wallet. To claim your rewards, you need to unstake your THOL tokens and click on "Release THOL" after the 10-day unlocking period.
Q: Are there any risks from staking, like slashing or penalties?
Staking on AngelBlock does not involve any slashing or other penalties. Anyway, staking in any blockchain project carries some level of risk, including potential fluctuations in the value of the staked assets, changes in staking rewards, and potential smart contract vulnerabilities users must be aware of.
Q: Are the staking contracts gas optimized?
Yes, staking contracts are gas optimized. However, staking, unstaking, and releasing tokens are different from standard swaps or transfers – they are on average slightly more expensive.
Q: How is staking affected in extreme case scenarios for either THOL or NFTs?
We ran simulations of THOL price and NFT value in different market situations (high ETH price, increased demand for NFTs, high THOL value). To give equal benefits for THOL and NFT holders, we decided:
- THOL and NFT staking share the same rewards pool, but NFT staking can consume up to 20% of the rewards, proportionally to the predicted value.
- Maximum and minimum single NFT value can reach 25% or 400% of the current floor price to limit the possibilities of influencing the NFT value with floor price manipulation. For example, a 1000% change for the NFT will result in a 400% modifier. But at the same time, the base would be the current floor price. It's important to remember that a 20% cap of total $THOL staking rewards applies to the rewards an NFT can generate.
Q: Where can I get more THOL and NFTs?
You can get more THOL tokens by swapping your preferred tokens on Uniswap (decentralized option) or trading on the MEXC exchange or BitMart exchange through the USDT/THOL trading pair. To get more NFTs, visit the AngelBlock NFT collection on OpenSea and acquire your preferred NFTs.
Written by: Christian Santagata
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