Staking is designed to reward users with more benefits at higher tiers. WOO X will continue to implement more benefits as additional products and campaigns are released. For more details, please refer to the following rules:
▶ Staking rewards
Staking does not offer fixed yields as rewards. Your current APY will vary based on three simple challenges that WOO stakers automatically join when staking in order to earn more yield.
For more details, please click on the relevant links:
- Base rate - Calculated by overall staking participation
- Diamond Hands - The duration of staking
- Trade Arcade - Frequency of trading
Note: All users' activities will be recorded and updated on the staking page at 00:00 UTC daily.
▶ Staking rewards calculation and distribution
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.
T+2 distribution rule: The distribution of rewards has been set on a T+2 basis at 00:00 (UTC).
The rewards of staking will be sent to the user's wallet daily. (Users can enable the auto-compounding to re-stake their rewards. )
Users can track their rewards under Reward History.
Here is an example of staking rewards: User A 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 00:00 (UTC) on Day 1. The rewards will be distributed on Day 2 00:00 (UTC).
Users can stake WOO to elevate their staking tiers to enjoy higher referral commissions, fee discounts, zero-fee trading, more free withdrawals, and other benefits on WOO X.
- The commission is based on the referrer’s staking tier and the amount of trading fees paid by the referees.
- Users can refer to Referral Program Rules for completed information.
Trading fee discounts
Both non-API and API trading are eligible for fee discounts based on the staking tier. The discount will activate immediately once the tier is reached. Users can track their current fee structure through the staking and account pages.
This article lists the pairs eligible for the Zero Fee Zone. Higher tiers are also eligible for zero maker fees on perpetual swaps.
After staking, users can enjoy free withdrawals for all networks and assets. WOO X only counts on-chain withdrawals. Internal withdrawals are free and will not count toward the calculation of free withdrawals. Withdrawals with the status of canceled, rejected, and failed will not be counted towards the free withdrawals.
Users can request to unstake WOO, subject to an unbonding period of 7 days. During this unbonding period, staking rewards will not be accrued. 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. *