Eclipsers, the moment we’ve all been waiting for is here! Now you can stake and lock your ECLIP to earn Cosmic Essence and get tier allocations! Accumulate Cosmic Essence and increase your chances of getting whitelisted for launches on Eclipse Fi.

We know you have questions. And we’re here to answer. This guide helps you understand:

• the rewards you get from staking or locking ECLIP,
• the details around entering and exiting stake/lock ECLIP positions,
• and some FAQs for ready reference!

Let’s dive in 🪂

TLDR: Staking and locking your ECLIP tokens accrues Cosmic Essence which entitles you to future IDOs on Eclipse Fi.

Cosmic Essence

Cosmic Essence is an internal point system. By earning Essence, you are assigned to specific Cosmic Tiers. These tiers determine your chances of getting whitelisted in future launches. The higher the Essence, the more likely you are to get whitelisted.

Remember these rules about Essence:

• When you stake ECLIP, you earn Essence each second. This Essence builds up until 1 ECLIP staked is equal to 1 Essence earned.
• When you lock your ECLIP, you get upfront Essence for the duration that you lock. For example, if you lock your ECLIP for 3 months you get 3 months’ Essence upfront.
• If you unstake or unlock your ECLIP, you lose all the Essence that you earned.

Staking ECLIP

This is easy-peasy staking.

You stake your ECLIP. You earn Cosmic Essence. However, it builds up gradually. The result? You might only be able to participate in some of the launches. But you can unstake your ECLIP instantly. There is no minimum required period for staking. There is no partial unstaking.

Locking ECLIP

This is easy-peasy staking. But better.

You lock your staked ECLIP. You get all the Cosmic Essence upfront. You do not need to wait for Essence to build up when you lock.

You also earn staking rewards when you lock. These rewards depend on the number of people locking for various periods. The reward APY starts high and drops low as the demand for staking/locking increases.

The amount of upfront Essence you get depends on the period for which you lock. The available periods are 1, 3, 6, 9, or 12 months.

Remember: the longer you lock period, the higher your upfront Cosmic Essence.

The amount of Essence you earn when staking ECLIP progressively increases over 12 months. When you reach the max level, you get 1 Essence per 1 ECLIP staked. This is what the reward distribution looks like👇

FAQs

How can I unstake/unlock my ECLIP?

If you staked your ECLIP, you can unstake them all instantly without any fee. Partial unstaking is not allowed. You lose all the Essence you earned when you unstake.

If you lock your ECLIP, you can unlock it when the lock period ends. If you unlock them before, you must pay a fee. You also lose all the earned Essence when you unlock before the lock period ends. Partial unlocking is not allowed.

How much fee do I pay if I unlock my ECLIP early?

If you unlock your ECLIP earlier than the lock period, you pay a 70% fee on the tokens that remain locked. For example, say you locked 100 ECLIP for 6 months. After 3 months, you decide to unlock all of them. You pay 70% on the 50 ECLIP that are still unlocked i.e., 70%*50 = 35 ECLIP. Thus, you get (100–35) ECLIP = 65 ECLIP back if you unlock after 3 months. This penalty decreases gradually as the unlocking day gets near.

Can I open multiple ECLIP lock positions?

Yes. You can open multiple lock positions with your ECLIP, each with a different lock period. These positions are completely independent of each other. They can be locked and unlocked without affecting each other.

Staking APRs — how much do I get?

The longer your lock duration, the higher the staking APR. These APRs are also subject to the number of people depositing. If many people start depositing for the same lock duration, then the APR starts dropping. It adjusts based on the duration for which ECLIP is locked and how many people are locking it.

How are ECLIP staking rewards calculated?

The $ECLIP rewards curve starts with high APRs. This APR reduces as more people stake their tokens. The APR adjusts ECLIP emissions based on demand for $ECLIP staking.

The rewards you receive depend on your Cosmic Essence balance. Adjust the duration for which you lock ECLIP to maximize the rewards.

How can I claim my ECLIP rewards?

Cosmic Essence and ECLIP staking rewards are accrued every second. You can harvest the rewards for each of your stake and lock positions using one button on the app.

How much Essence do I lose if I unstake or unlock?

If you unstake, you lose all the earned Essence. If you unlock before the lock period ends, you lose all your Essence.

Is there a difference in rewards for different staking periods?

The staking rewards you earn when you lock your ECLIP depend on your earned Essence. If you have higher Essence, you earn higher rewards. You earn higher Essence when you stake/lock your ECLIP for longer. So yes, the staking rewards depend on different staking periods.

What is the lottery allocation system for IDOs?

All users who stake their ECLIP get a random lottery allocation for IDOs on Eclipse. The number of winnable lottery allocations and the amount of allocation per ticket depend on each user’s Cosmic tier allocation. You can win anywhere between $50 and $6000 worth of allocations via the lottery system — depending on your tier. More details here.

Do we have a separate lottery for each tier?

Yes, the lottery for each tier is different. Each tier has a different number of lottery ticket allocations. More details here.

Can I lock more ECLIP tokens?

Yes, you can open multiple ECLIP lock positions. All of these positions remain independent of each other.

Are there different tiers for each IDO? Or do I need to get only one tier that applies to all IDOs?

No, once you earn Cosmic Essence and are allocated a tier, that applies to all the launches that happen on the Eclipse Fi app.

Do I lose my Essence if I participate in an IDO?

No, you only lose Essence if you unstake or unlock your ECLIP.

Can I relock for a longer period? Do I need to pay a fee?

You’ll be able to relock your tokens without paying a fee. If you have 5 lock positions each with different lock periods, you can consolidate them into one. Relocking will be made live soon. When it goes live, we’ll share the news on our socials.

How can I get guaranteed allocations? Which tier do I need to be in for that? How much ECLIP do I need to stake for that?

To get guaranteed allocations, you need to be in Cosmic Essence tier 4. You get a $500 guaranteed IDO allocation and a $1,250 lottery allocation in that tier. For this, you need to stake about 20,000 ECLIP. Play around in the app here to know the exact ECLIP you need to stake to get that tier.

Can I stake my vested IDO ECLIP tokens?

No, you cannot. You need ECLIP in your wallet for staking or locking it.

Is there a minimum and maximum ECLIP required for locking?

No minimums or maximums. You can stake or lock however much you want.