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Staking, Pool Voting Policy
Staking participants can join in staking according to the policy below.
- KSP staking is neither an act of entrusting nor entrusting KSP to another person. It is to lock up users' KSP asset by signing so that the KSP is not remitted or traded according to the consented terms agreed by the user themselves (staking period, etc.). Therefore, it is impossible to cancel, withdraw, or change the withdrawal wallet that violates these terms.
- It is not possible to cancel staking before the end of the contractual staking period.
- Each staking contract is not separable from one another, rather, the total amount of KSP staked will be tied up based on the date of the last staking contract. It requires completing the approval procedure for your first staking contract. (1st time only)
- Voting rights (vKSP) can be obtained at the beginning of every staking cycle depending on the KSP quantity and contracted period (4/8/12/12+a months).
- Voting rights issued after KSP staking are based on the following.
- 4 months, 8 months, 12 months, and 12+a months staking give more votes corresponding to 1x, 2x, 4x, and 8x coefficients respectively. If the selected period of additional staking is shorter than the previously selected staking period, each case will be applied to a different rate. Example 1) If you stake 100 KSP for 4 months first and stake an additional 100 KSP for 12 months sequentially, a total of 800 vKSP is obtained by applying 4 times the 200 KSP. Example 2) If you stake 100 KSP for 12 months first and stake an additional 100 KSP for 4 months sequentially, a total of 500 vKSP is obtained by applying different multiple rates. (the first 12 months staking will get 400 vKSP while another 4 months staking will get 100 vKSP each.)
- Staking rewards are distributed proportionally according to the user’s share(%) of vKSP compared to the total vKSP. (i.e., Staking share = your vKSP/ the total number of vKSP).
- If users stake KSP with an efficiency of less than 4x, you could increase the staking efficiency to 8x and obtain more vKSP through the [maximize efficiency] button. The 8x efficiency will continue to proceed with vKSP staking without a fixed end date until it is changed to 4x.
- If you are in the process of 8x staking, you can lower the staking efficiency to 4x by clicking the [lower to 4x] button, and you can unstake after 12 months from that point.
- If the staking efficiency is changed from 8x to 4x, the change in the number of voting rights will process priorly the withdrawal of the voting rights assigned to the Ecopot and the pool voting in which the user participated. However, the staking efficiency can be changed to 4x when it is possible to withdraw if there is a limit to the time to withdraw their voting rights (every day 9 am) according to the pool voting policy.
- Transaction execution may be impossible due to computational costs if the user is voting for multiple pools or participating in multiple Ecopots at the time of efficiency change. In this case, the user can directly change efficiency to 4x after withdrawing the voting rights allocated by the pool voting and Ecopot pool.
- The date and time of staking termination vary depending on the time of additional staking and the selected staking period, and unstaking (withdrawal) is possible after the staking end date. CASE1. Existing Contract expiration date and time < Current time + New contract period (4/8/12 months) → Current time + new contract period date and time is the end date Case 2. Existing contract end date and time > Current time + New contract period (4/8/12 months) → Existing contract expiration date and time is the final expiration date.
- Distributed KSP rewards can be freely claimed and received in wallets.
- If the existing KSP balance changes due to additional KSP staking/unstaking, any accumulated KSP rewards will be automatically claimed and sent to your wallet.
- In the case of staking with 8x efficiency, the staking continues without a fixed unstacking period.
- In the case of 4X or less staking efficiency, pop-up guidance will be given 30 days in advance before the closure of staking contract. Once the unstacking process is completed, you will be given additional 30 days to either extend the staking period or withdraw the assets. If you withdraw KSP during this period, the corresponding voting right(vKSP) will be returned.
- If you unstake KSP while participating in the pool voting, the votes will be automatically withdrawn due to the return of the voting right. The amount of allocated trading fee rewards will be automatically claimed and sent to the user's wallet.
- The records of voting rights and voting history will be maintained after the termination of staking.
- If unstaking is not conducted within the 30 day waiting period, the new staking contract will automatically proceed based on the longest period of the previous contract (4/8/12 months) and the corresponding voting right (vKSP) will be given to the user. If the user lowers the staking efficiency to 4x during 8x staking, the user is able to unstake (withdrawal) after 12 months of lock-up from the day you change the efficiency rate. However, automatically re-contracted staking cannot be canceled.
- If additional KSP staking is carried out within the 30 days before the staking termination period, the additional staked quantity + existing staked quantity will be deemed to have been renewed from that date.
- The number of obtained vKSP will not be reduced by the pool voting.
- User votes are calculated based on daily 9:00 AM (KST) snapshots.
- Once users vote on a specific pair pool, they can withdraw it after the upcoming snapshot period.
- In the case of pair pools that KSP rewards are invalidated due to the result of token-level agenda voting, users can withdraw their votes on that pair pool before the upcoming snapshot period.
- When the token level is downgraded due to governance agenda voting, that specific token pair pool will be excluded from the KSP reward from the point when the code is reflected.
- Users can vote on pair pools that provide KSP rewards. And they can vote for up to 10 different pools.
- 50% of the transaction fee generated by the voted pair pools will be distributed to the pool voters during the voting period.
- The amount of the distributed transaction fee that voters will receive depends on the voters’ stake in their pool votes. (My pool voting share = my number of vKSP votes/total number of vKSPs voted for that pool)
- Any pair pools without votes will not distribute the accumulated transactions fee.
- Users can freely receive the distributed transaction fee reward in their wallet by clicking the get reward button.
- If the number of votes held by users changes by execution of additional voting, withdrawals, and unstacking at the end of the contracted period, the distributed transaction fee will be automatically transferred to the users’ wallets at that point.
Last modified 1yr ago