We spawned a new kind of SuperStaking pool for Onix: the «BCF Shrine»

Permalink Report to webmaster

Some months ago we created a SuperStaker on the Onix network. We've seen it grow, but only giving good rewards to big stakeholders.

We've seen a lot of users that keep small amounts of ONIX -from dozens to hundreds- that can't compete against delegates with massive levels of magnitude.

Because of this, we teamed up with the Onix team to bring a solution, and we both made pools that give proportional rewards.

Welcome to the Onix approach to fair DeFi staking

Rewards obtained by hitting blocks from either the pool funds or any delegation are given to the pool. Then a script distributes the rewards to the delegators based on the weight of each address.

Delegate from 10 to 20,000 ONIX and get rewards

Solo staking wallet addresses with small amounts of ONIX is prohibitive: you don't hit blocks in weeks.

Delegating a few ONIX to any of the SuperStaker pools doesn't change much: still, your weight isn't enough to hit blocks at a constant rate.

To bring a solution to this matter and give a change to small holders to also stake their Onix, we created this script. Even by delegating few amount of ONIX to our pool makes you eligible to receive rewards, because your individual delegation weight raises the weight of the entire pool. The heavier the pool, the faster it hits blocks.

There are limits to demotivate whales from joining our pool

The highest amount of delegation that our pool is capable of paying rewards is 20,000 ONIX.

Holders with larger amount of ONIX are also welcome to join our pool. Just make sure your delegations are not bigger than 20,000 ONIX.

If you delegate addresses with more than 20,000 ONIX, our calculator will top your weight to 20,000 so you don't eat up rewards of smaller stakeholders.

There is a lottery!

10% of staking earnings are used for a lottery. On every round, the script picks 3 delegates at random to give them a share of the earnings depending on their place:

  • First place gets 50% of the lottery share.
  • Second place gets 35% of the lottery share.
  • Third place gets 15% of the lottery share.

We sacrifice our income

The bootstrap funds are used only to give weight to the pool among the Onix Staking network. This is done so stakeholders with low amounts of ONIX can participate by adding weight to our pool (which increases our chance to hit blocks) and taking a fair share for delegating their coins with us.

In short, the weight of our wallet funds is taken out of the formula that calculates the delegate weights.

We only keep 10% of each round earnings as fee for running the pool.

Pool details

  • SuperStaker address: XG6ncE5tGg72CRHKgn3PHpCAchWY21qWuK Copy address  Check on the block explorer
  • Minimum delegation weight: 10 ONIX
  • Maximum delegation weight: 20,000 ONIX
  • Delegate fee: 100% - all earnings are managed by the pool
  • Earnings distribution:
    • 10% for the pool (service fee)
    • 10% for the lottery
    • 80% for all delegates
  • Minimum reward delivery threshold: 10 ONIX
  • Round length: 6 hours
  • Round end / payout deliveries: four times a day: 4:00 AM, 10:00 AM, 4:00 PM and 10:00 PM US central time
  • Bootstrapping funds: 500,000 ONIX

>>  Delegates with a weight above 20,000 will be topped to 20,000.
>>  Delegates with accumulated rewards below 6 ONIX will be carried over the next round.
>>  Network fee will be deducted in each payout transaction.

Delegate your ONIX now!

If you have the core wallet on your desktop PC to keep your onix, take a look on the Delegated Staking HowTo on the Onix website to learn how to delegate your coins.

The next video shows how to delegate on the Onix shrine. The same applies to our shrine, so take a look at it for a crash course:

Check our page at the Onix SuperStakers registry for full information and stats.

Nobody has rated this post!
Vote now!
Cumulative results: 0 points • Rating: 0.000

Blockchain Financial has the next label sticked since 1 years ago:

Nakamoto: A guy/gal that accidentally got famous. Nobody knows him/her but we love him/her.
Sticked by mingo2020 1 years ago • Source: Free Army of Crypto NFTs for 25 lucky users • Reason: N/A

0 comments

You need to register an account if you want to leave comments on this or any other post!
Click here to register now!