Staking on Mainnet Goes Live⚡️

0x8c8b
February 10th, 2022

TL;DR $GTON staking on mainnet starts today, on the 10th of February. The APR is fixed. The staking period as well as the amount is unlimited.

We are excited to announce the official start of $GTON staking on mainnet. After the testing period and community feedback, the staking functionality is fully integrated and $GTON holders can start staking their $GTONs in the alpha GTON Capital app implemented as 📺 CLI (command-line interface).

Tokens will be distributed according to the parameters previously voted upon by the community: GTON staking with 22.32% fixed APR with daily reward harvesting.

Example: Every 100 staked GTON will generate ~2 GTON for its staker every month with reward distribution happening every ~1 sec i.e. 1 every block.

Harvesting rewards

Once you add GTON for staking, sGTON is being minted and starts generating sGTON as rewards. You can claim (or harvest) your farmed rewards at any time but only once per day. When harvesting sGTONs, they convert into GTONs automatically. You can also reinvest your harvested GTONs by sending them to generate more rewards.

Note: stakers who have previously staked their GTON on the legacy website and haven’t withdrawn their GTON to wallets have to manually migrate their funds to the new staking app.

How to migrate

  • Go to Graviton App, portfolio section: https://v1.graviton.one/portfolio/
  • Connect to MetaMask by clicking “Connect wallet” in the bottom of the page or in the “My current GTON balance” section.
  • Check that you're connected with the right address that you want to receive the withdrawn funds to.
  • Enter a required amount in the “Amount” section or click “Max”.
  • Note that the withdrawal is available only to the Fantom network.
  • Click “Withdraw to wallet”.
  • Click “Withdraw” on the pop-up after checking that you’ve entered the correct amount.
  • Confirm the transaction in Metamask. The processing may take some time.

That’s it. Now you can go to the GTON Capital app and stake your GTON with the renewed staking. Simply follow the instructions on the 📺CLI.

Not only does $GTON staking kick off the next layer of utility to the GTON token but also marks another important milestone within GTON Capital roadmap.

Staking functionality creates an important basis for the key GTON Capital feature - 🧬Pathway, by enabling holders to keep and accumulate GTON overtime.

  • Staking is reducing supply in circulation and thus turning GTON into deflationary currency.
  • Later, staking will be used as a way of block mining consensus for  ⚜️ 𝔾ℂ Net and its governance.
  • Staking is also a tool for designing flexible and scalable governance models and incentivization systems such as delegated governance staking.
  • Staking will be used as a tool set for upcoming "growth hacking" techniques like referral systems or ambassador program.
  • Staking is a sustainable revenue business model for system contributors.

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