$KNDX Staking Options and Boosting Rewards
The Kondux Staking System is the foundational layer of the Kondux Ecosystem, and we are excited to roll it out to our users. With the Kondux Staking System, you can stake your $KNDX tokens and earn rewards.
Here is the portal and how it works:
– You can stake your $KNDX tokens for a specific period, ranging from 30 days to 1 year.
– By holding a Founder’s Pass NFT, you will receive a 10% boost on your rewards percentage.
– If you hold kNFTs (ERC-721s), you will receive a cumulative boost based on the highest boost imprinted in the kNFT DNA, ranging from 1% to a maximum of 5%. You can stack up to 5 kNFTs to earn maximum rewards.
$KNDX Staking
– Currently, only $KNDX ERC20 tokens can be staked in the Kondux Staking System.
– Compounding occurs every 24 hours, allowing your rewards to grow.
Base Rewards and APY
– The base APY for staking $KNDX tokens is 25%.
– You can earn rewards at a rate of 0.00285% per hour, equivalent to a 25% APY.
Locking Periods and Reward Boosts
– Depending on the duration of your stake, you can enjoy additional reward boosts:
– 30 days: Standard rewards
– 90 days: 1% reward boost
– 180 days: 3% reward boost
– 365 days: 9% reward boost
Early Un-staking Penalty
– If you un-stake your tokens before the agreed lock period, penalties will incur.
– The penalty percentage is based on a sliding scale relative to the agreed lock period.
Examples:
– If 10,000 $KNDX tokens are staked for 1 year and then un-staked on the same day, the penalty will be 10% (1,000 $KNDX).
– If you un-stake for 6 months, the penalty will be 5% (500 $KNDX).
– If you un-stake for 9 months, the penalty will be 2.5% (250 $KNDX).
Introducing: $HELIX Token
– The $HELIX Token is a companion to the Kondux $KNDX Staking System.
– Helix Tokens will have various uses within the Kondux Ecosystem, including character/item alteration and mutations, redemption for kNFT assets, dynamic partnership pools, etc.
– $HELIX Tokens are minted at a 10,000 to 1 ratio reward when you stake your $KNDX tokens.
– The $HELIX Tokens are burned when you un-stake, and your $KNDX tokens (including rewards) are deposited back into your wallet.
Partnerships and Kondux Interoperability
– Kondux contracts and protocols are designed for seamless integration with potential partners and collaborations at the blockchain level.
– This includes staking other ERC-20 tokens to mint Helix, utilizing the kNFT contracts, benefiting from the kNFT DNA Protocol, etc.
Max Boost Duration:
Combination of Max Boosts – Founder’s NFT ($KNDX) (10%), five kNFTs with 5% boost each, with a locking period of 365 days.
If you stake 10,000 $KNDX tokens with a Founder’s NFT (10% boost), five kNFTs each with a 5% boost (25% boost), and a 365-day locking period (9% boost), your total boost would be 44%. The resulting APR for 365 days would be 36% ($KNDX) (25% * 365/365 * (1 + 0.44)), and your reward would be 3,600 $KNDX tokens.
Intermediate Boost Duration:
Example of a combination of Max Boosts – Founder’s NFT, five kNFTs with 5% boost each, and a locking period of 180 days
If you stake 10,000 $KNDX tokens with a Founder’s NFT (10% boost), five kNFTs each with a 5% boost (25% boost), and 180-day lock in period (3% boost), your total boost would be 38%. The resulting APR for 180 days would be 17.01% ($KNDX) (25% * 180/365 * (1 + 0.38)), and your reward would be 1,701 $KNDX tokens.
Half Boost Duration:
Example of a combination of Max Boosts – Founder’s NFT, five kNFTs with 5% boost each, and a locking period of 365 days, but un-stake early at 180 days
If you stake 10,000 $KNDX tokens with a Founder’s NFT (10% boost), five kNFTs each with a 5% boost (25% boost), and a 365-day locking period (9% boost), your total boost would be 44%. The resulting APR for 365 days would be 36% ($KNDX) (25% * 365/365 * (1 + 0.44)).
Now let’s say you un-stake early at 180 days.
The resulting APY for 180 days would be 17.75% ($KNDX) (25% * 180/365 * (1 + 0.44)). However, since you un-stake earlier than the locking period, you will lose all the bonuses and be penalized.
The remaining locking period is 185 days (365 – 180). The penalty percentage is 10% * (185 / 365) = 5.06%. Since the minimum penalty is 1%, the penalty applied will be 5.06%.
The final APR after penalties for 180 days would be 12.69% ($KNDX) (17.75% – 5.06%), and your reward would be 1,269 $KNDX tokens.
