HomeCoinsStakenet (XSN)Staking HDX. We welcome you to this article which… | by Hydranet...

Staking HDX. We welcome you to this article which… | by Hydranet Team | Hydranet (HDX) | Mar, 2022

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Staking HDX. We welcome you to this article which… | by Hydranet Team | Hydranet (HDX) | Mar, 2022

We welcome you to this article which contains mainly two topics:

  1. Staking Guide
  2. A short FAQ about HDX APY

To start the staking process, go to: https://hydranet.ai/#/stake

Staking HDX. We welcome you to this article which… | by Hydranet Team | Hydranet (HDX) | Mar, 2022
Click on “Connect Wallet” and choose the preferred one

Unlock your wallet, click connect and enter your password and choose the account which you want to use for staking your HDX.

Staking HDX. We welcome you to this article which… | by Hydranet Team | Hydranet (HDX) | Mar, 2022

Now you have to approve the transaction so you can stake your HDX later. After this has been approved you can enter the amount you want to stake.

Please note: The APY for staking sHDX or gHDX is the same.

Staking HDX. We welcome you to this article which… | by Hydranet Team | Hydranet (HDX) | Mar, 2022
Staking HDX. We welcome you to this article which… | by Hydranet Team | Hydranet (HDX) | Mar, 2022
Confirm the transaction.

After this has been approved you can enter the amount you want to stake, click stake and confirm the transaction again.

Staking HDX. We welcome you to this article which… | by Hydranet Team | Hydranet (HDX) | Mar, 2022

Congrats, you have just staked your HDX!

Q: And another question: what is the total amount of HDX per rebase? Is this number fixed? What is the estimated number of new hdx per year?

A: That’s not fixed and it’s not even that easy calculable till the moment when we have some constant staked values per week/month. We know that brings to people a lot of confusion to people but with bonds, we’ll make staking and inflation more constant.

Here is a little guide: Rebase works whenever somebody stakes HDX in t+1, so even 1 second after those 8 hours are done, rebase happens. t=8 h and it’s one rebase period. Whoever stakes first in t+1, gets 2 HDX as reward + rebase distribution like others who staked.

DAI bonds work that way that you pay with DAI premium price for HDX let’s say 5–10% less than the current value. And in 5 day period, you get back HDX which is automatically staked. LP bonds work that way that you put liquidity to let’s say sushiswap pool and give LP token in return for HDX with premium same with DAI. More info on the bonds will be published next week.

With these 2 incentives, we fill our treasury with LP fees and DAI, and finally, when we fill treasury enough that we have good backing for HDX, we make inverse bonds. Inverse bonds work in the way that you provide HDX in return for DAI and we burn HDX, that way we control inflation. This comes in later stages maybe 9–12m from now.

Q: What is the difference between sHDX and gHDX?

A: sHDX and gHDX will reward exactly the same amount of HDX over the same time period. The difference is in how those rewards come. If you select sHDX when staking you’ll receive sHDX at a ratio of 1:1, and you will receive rewards in sHDX each rebase period (every 8 hours).

This is similar to how staking was done on the XSN chain. If you select gHDX when staking you’ll receive gHDX at a ratio based on the Current Index, which can be found on the dashboard page. While holding gHDX, the amount you hold will remain constant, but the amount of HDX that each gHDX is worth will increase with each rebase period. This is determined by the calculation gHDX * index = HDX.

Each rebase is one epoch, each epoch has a different staking reward. Bounty is a fixed value, OHM balance in staking contract and staked sHDX circulating supply are in each epoch different if we assume that in each epoch somebody will stake. staking reward = ohm balance in staking contract — staked sHDX circulating supply — bounty rebase rate = staking reward/sHDX circulating supply.

So bounty is a reward for the staker that triggers rebase. You see in UI on the stake page when the next rebase will happen, so if somebody stakes after the rebase epoch end(now it’s 5hrs and 37 mins) so after that time, the epoch is 8 hours, he will trigger rebase.

So the stakers trigger rebase, it doesn’t happen automatically. If it doesn’t get triggered, you have to wait until one staker is triggering the rebase in one of the next epoch(s).

Then that staker will get 2 HDX which is our fixed reward, and the sHDX balance will be changed for all holders aka new sOHM will be distributed, and that rebase epoch is over. In the next rebase it’s the same again. We’ve put this small bounty for the start, that can be changed.

One example for an epoch:

  • sHDX circulating supply: 51375511.494431436
  • staking reward: 35273.949352839
  • APY = (Math.pow(1 + rebaseRate, 365 * 3) — 1) * 100; APY=(Math.pow(1 + 0,000686591,3653)-1)100
  • Current APY=112.03



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