Staking
Questions about staking both on and off the Blind Boxes platform. Staking programs are launched roughly every quarter for the $BLES community.
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Questions about staking both on and off the Blind Boxes platform. Staking programs are launched roughly every quarter for the $BLES community.
Last updated
Was this helpful?
Staking is available on our dApp located here:
Blind Boxes continues to focus on building dynamic and robust functionality for BLES. As we ease into the second half of the summer, let’s reflect on our most recent 90-day plus preview the next staking initiatives that will soon kick-off.
Recap: BLES Vaults I
For this initiative, which ran , we had two distinct staking pools hosted on the . Users could stake BLES in either single or dual asset staking pools.
In the single asset staking pool, 1,121,193 BLES were staked for a total of ~ $325,000. The closing annual percentage rate (APR) was 72%.
In the dual asset staking pool, 8960 BLES-BNB-CAKE tokens were staked for a total of ~ $194,500. The closing APR was 540%.
In the former, a user could , while in the latter, users to earn yield.
BLES Vaults II
The popularity of the previous staking program has prompted us to launch a fresh iteration. In developing the BLES Vaults 2 staking program, we heeded feedback from our community. Specifically, we are incorporating burn mechanisms and duration optionality to incentivize and reward long-term staking.
Details
Start date: August 23, 2021
Duration: 180 days
Total per block rewards: 0.424 BLES
Total budget: 219,801.6 BLES
Structure: 4 pools of different durations
APR: automatically determined by market dynamics
Single asset staking (BLES)
0.05 BLES per block — open
0.05 BLES per block — 30-day lock
0.05 BLES per block — 90-day lock
Dual asset staking (BLES-BNB-CAKE LP V2)
4. 0.274 BLES per block — open
Burn Mechanism
If a user withdraws their BLES before the end of their selected staking period, a percentage of their funds will be burned. The percentage burned will mirror the proportion of the remaining staking period.
Example 1: User A has staked his tokens in the 120-day pool. If he withdraws the next day (day 2), 99.1% (119/120) of the principal token value will be burned.
Example 2: User B has staked her token in the 120-day pool. If she withdraws on the 36th day, 40% (24/60) of the principal token value will be burned.
We look forward to your participation in the upcoming staking pools. For questions or feedback, and chat with our community managers.