We are thrilled to share exciting news about our highly anticipated rewards distribution plan for the revamped staking program!

Launch of revamped staking program brings exceptional benefits for stakers in the new staking program. Message to our old stakers: We didn’t forget you. Exciting updates for you as well in this article!

First let’s start with a basic understanding of how we define ‘old active stakers’ and ‘new stakers’ for the purpose of this article.

Old active stakers: Staked by June 30, 2023, and withdrew from the old staking program after the launch of new staking program. Deadline to withdraw from old staking program and be considered as Old active stakers is : Feb 24, 2024

New stakers: Staked into new staking program

1. Background: Transition to the New Staking Program

As part of our commitment to continuous improvement, we recently announced the transition to a new staking program. To participate in the new staking program, users are required to withdraw from the old staking program and stake their assets in the new program.

2. SOLR Rewards distribution:

2a. Old active stakers

For those who supported us in 2023, we have allocated a substantial pool of 500,000 SOLR exclusively for rewarding ‘old active stakers’.

Who qualifies for these rewards?

‘Old active stakers’ as defined above, qualify.

Elaborating this with some examples:

i. If you have staked on March 1, 2023 and unstaked from old program after new staking program launch before Feb 24 — eligible

ii. If you have staked on March 1, 2023 and did NOT unstake after new staking program launch by Feb 24- NOT eligible

iii. If you have staked on July 2, 2023 and unstaked from old program after new staking program launch by Feb 24- eligible

B.I.G deal for old stakers? Yes! Understand how.

Historically, the percentage of users claiming APY rewards has been very small. Thus, the rewards sent out as APY rewards remain unutilized. Like our usual approach of rewarding the active users of the platform, we have decided to distribute the entire pool of 500k SOLR to those who withdraw from old staking program before Feb 24, 2024 and stake into new staking program. This means, the users are expected to get substantially higher rewards than they would have received as APY based on historical patterns.

2b. New stakers:

The pool of 500,000 SOLR tokens is meant for ‘old active stakers’ only. But, don’t be disheartened, phenomenal gains wait for you in the new staking program. Learn more about how BONK rewards will be distributed and benefits of long term staking. Remember, there is a reward boost for those who stake for longer duration.

3. BONK Reward distribution

3a. Old active stakers

We’ve allocated 5% of the total BONK tokens with us, as a reward pool exclusively for ‘old active stakers’.

3b. New stakers

Post distribution of the 5% of total BONK rewards to old active stakers, the entire pool of BONK rewards will be distributed to New stakers in following manner:

🔵10% of BONK rewards pool: This will be dropped in February, 2024

🔵Remaining 90% of BONK rewards pool: This will be equally distributed (30% each quarter) over the next three quarters, ensuring a steady and sustained reward flow for our community.

How do long term stakers benefit?

The long term staking will be incentivized in many ways. Initially two key benefits offered are, higher rewards and higher allocation in IDOs:

🔥Higher BONK rewards:

Here’s the formula we will use to calculate BONK rewards:

No. of SOLR staked * Multiplier based on duration of SOLR staked * BONK per SOLR in the reward pool

Multiplier for various staking duration:

12–20 weeks: 1X

24–36 weeks: 1.5X

40–52 weeks: 2X

Illustrating with example*:

BONK rewards pool for a month: 2 bn

SOLR staked in the New staking program is: 2 mn

BONK reward per SOLR: 2bn/2 mn= 1,000

BONK Rewards for a user staking 125,000 SOLR (i.e. Tree tier) for 12 weeks = 125,000 * 1 * 1000 = 125,000,000 BONK per month

BONK Rewards for a user staking 125,000 SOLR (i.e. Tree tier) for 36 weeks = 125,000 * 1.5 * 1000 = 187,500,000 BONK per month

BONK rewards for a user staking 125,000 SOLR (i.e. Tree tier) for 52 weeks = 125,000 * 2 * 1000 = 250,000,000 BONK per month

BONK rewards for a user staking 500,000 SOLR (i.e. Mighty oak tier) for 52 weeks = 500,000 * 2 * 1000 = 1,000,000,000 BONK per month

Disclaimer:
1. The above example is for illustrative purposes only.

2. The rewards are calculated at current staking nos. and have been calculated for 52 weeks. As more people stake, rewards per wallet reduce.

🔥 Higher IDO allocation

Max allocation is capped tier-wise. The formula for calculating specific allocation is as below:

Base allocation in the tier * Staking duration multiplier

Multiplier for various staking duration:

12–20 weeks: 1X

24–36 weeks: 1.5X

40–52 weeks: 2X

Illustrating with example:

Suppose, ‘Base Allocation’ for various tiers is

Soil: 100, Seed : 200, Sapling: 300, Tree: 400, Mighty Oak: 500

Max Allocation for user staking 1000 SOLR ( i.e. Soil tier) for 12 weeks = 100 * 1 = 100

Max allocation for user staking 1000 SOLR ( i.e. Soil tier) for 52 weeks = 100 * 2 = 200

Max allocation for a user staking 125,000 SOLR ( i.e. Tree tier) for 52 weeks = 300 * 2 = 600

4. Rewards Token Distribution Process:

We will airdrop the tokens to eligible wallets starting from the month of February.

6. Why are there no SOLR rewards in the new staking program?

SOLR has a fixed mint/supply model without tail inflation. Our strategy involves providing rewards exclusively for the first year (already complete), with a focus on boosting SOLR’s utility and increasing its demand going forward.

At RazrFi, we value and appreciate the ongoing support of our community. This comprehensive rewards distribution plan is our way of expressing gratitude to our active users and ensuring that your loyalty is handsomely rewarded.

Thank you for being part of the RazrFi journey.