Launching the Rokfin Staking Reward Pool
As part of Operation Raemundo, starting today, March 31, 2022, we are introducing a 6-month staking pool to further reward RAE holders.
Why Would I Stake?
You will never leave the reward pool with less RAE than you staked. There is no impermanent loss.
By staking your RAE into the rewards pool, you receive xRAE. While staked, your RAE rewards for your xRAE are continuously compounding.
When you unstake your xRAE, you will receive ALL your initially deposited RAE in addition to any rewards from the rewards pool. Meaning the longer you hold, the more RAE in your wallet.
How Big is the Rewards Pool?
Every day, an amount equivalent to 25% of all of the RAE burned on the network is distributed to the rewards pool. This is in addition to the $1 of RAE burned (forever) for each dollar transacted on the network.
How Do I Stake My RAE?
- Go to https://rokfin.com/rewards and Connect Your Wallet *. There you can Stake RAE, turning it into xRAE to earn part of the rewards pool.
- Hit Stake RAE and enter the amount of RAE you want to stake (or click Max for all). You need to “Approve” the RAE token the first time you stake.
- Confirm in your wallet
- Kick back and let your RAE earn more RAE
*For Coinbase Wallet users, Connect Your Wallet following the below steps:
Log in to your Coinbase Wallet app on your phone.
Click the 4 squares to open the Coinbase Wallet browser.
Type rokfin.com/rewards hit enter. You’ll click the “Metamask” option in your Coinbase Wallet browser here. Once connected, return to the directions above.
- If you are using Coinbase Wallet and getting an error signing in with Google, that is a known issue being worked on. In the meantime, create a new free Rokfin account and use that to stake.
How Do I Unstake?
- When you are ready to receive all of your original stake, plus any RAE continuously compounded rewards, go to https://rokfin.com/rewards and Connect Your Wallet.
- Hit Unstake RAE and enter the amount of xRAE you want to remove from the reward pool.
- Confirm in your wallet
Want to talk to other RAE holders? Join our Discord
Learn more about RAE at https://raetoken.org/
Love the emphasis on Raemundo here.
Is this clear? Feel free to post here if you have any questions.
The daily rewards posting has been helpful. If we can do it daily and show how much a user has earned, that will really help.
i too like the change to daily earned as opposed to all-time.
however i also like seeing current APY. perhaps in future it could display both or rotate between those figures.
It would also be nice if we didn’t have to connect our hardware wallet to see our staked and earned balance. Looksrare has a nice interface for staking that shows how much you’ve earned in tot and you don’t have to sign with your hardware wallet. Sandbox has a similar interface.
is there a way to pull your rewards (to a wallet) without removing your stake?
No the contract is built using Sushiswap’s contracts. The rewards and the stake are grouped in one bucket as an elegant way to compound rewards without incurring fees. However the tradeoff is that you can’t remove just rewards. The best you can do is calculate your rewards to date, and withdraw the amount of xRAE equal to that.
Hear ya! That’s in the development backlog for team members. It may be a good proposal to make when the governance section goes live. We are also releasing a public GitHub for RAE so that outside members can build these types of features in the future.
He’s ready for Raemundo summer
When the 6 month staking period is done what will that do to RAE price?
Good question @hagertony. The six month window was a test because making it in perpetuity relies on getting everything close to right out of the box.
We’ll explore as the data is collected in Raemundo’s evolution. So far, it seems popular with the community. That’s a great idea for a proposal in the Governance forum here.
Is there anything in particular that stakers need to do once the six month period is up?
No their RAE can be redeemed with their xRAE no matter the timing of when RAE is or is not added to the pool.
Also for the REP process, xRAE will be viable to vote with without converting it back to RAE by unstaking first.
love it. i really want to be able to convert while maintaining stake