WOO X is excited to announce the Staking program with all the users and new joiners. WOO X hopes to share more value with users in the staking program for all the continued support. The Staking program was designed in a new calculation method based on your participation and will be implemented with more benefits continuously. This means the higher the participation on WOO X, the higher the APY and benefits you will get. For more details, please refer to the following rules:
Tiers and Benefits
The staking program will no longer have the fixed yields as rewards. Users can gain additional rewards by accomplishing challenges. Users can stake WOO to elevate their staking tiers to enjoy discounts or zero-fee trading for Manual and API trading.
As a gesture of appreciation to Closed Beta users, they will retain their original tiers in Open Beta. For details about the benefits, please link to “What are the benefits for Closed Beta stakers?” to learn more.
Please note: A limit for fee discounts is set at 50,000 orders during a 24-hour period. When a user’s daily ordering count exceeds 49,999, their fee tier will revert to Tier 0 automatically. The ordering count resets to zero at 00:00 (UTC) every day.
How's my APY calculated?
Your current APY will be varied according to the three basic rules. All WOO stakers automatically join the challenges to earn a higher yield. Users can gain multipliers to their base yield by accomplishing each requirement within a challenge. All users' activities will be recorded at 00:00 UTC daily and updated on the staking page. Please click on the relevant links for more details.
A. Base rate - Calculated by overall staking participation
B. Diamond Hands - The duration of staking
C. Trade Arcade - Frequency of trading
Yields calculation and distribution
A. T+1 calculation Rule: The WOO you staked will be calculated starting from T+1 00:00 (UTC), after the day you stake. If users stake a few times in a day, WOO X will count the sum of them
B. T+2 distribution Rule: The distribution of rewards has been set on a T+2 basis at 00:00 (UTC).
C. The rewards of staking will be sent to the user's wallet daily. (No more auto-compounding)
D. Users can track their rewards under Reward History.
Here is an example: User has staked 100 WOO at 10:00, 200 WOO at 16:00, and 50 WOO at 21:00 on Day1. The aggregated total of 350 WOO (100+200+50) will be counted toward the reward at Day 1 00:00 (UTC). The rewards will be distributed on Day 2 00:00 (UTC).
A. You can request to unstake your WOO and it will be unbonded in 7 days, during which it will not count toward your staking rewards.
B. Note for Closed Beta stakers: By unstaking any WOO, you will immediately lose your grandfather benefits from Closed Beta. This applies even if you cancel unstaking before the unbonding date. Please refer to the article for more information: What are the benefits of Closed Beta stakers?
C. Users can track their stake/unstake status from Staking History.
* For any changes to the latest policy, please refer to updates posted on WOO X. WOO X reserves all rights of final interpretation for the staking program. *