TotemFi Rewards Explained
TotemFi Staking-Pool Rewards
Welcome back! We’ve explained how the TotemFi platform’s pool mechanics work, so now we’ll be diving into the exciting part — information about the bitcoin and totem returns for participation in the staking pools.
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When entering into a staking pool, there will be a guaranteed staking reward. This will vary depending on the maturity time of the staking pool. These will adjust overtime to ensure individuals are sufficiently rewarded whilst maintaining a sustainable Totem ecosystem. Initially, proposed return rates are displayed in the table below:
Users will have their staked TOTM secured in a smart contract until the maturity of the staking pool. The staking rewards will be accumulated daily at 00:00 UTC. Users are able to claim and distribute these accumulated rewards as soon as they are available from the ‘My Account’ section of the staking dApp.
Staking returns will begin as soon as the individual enters into the staking pool, meaning the interest will begin accruing even prior to the pool launches.
For each staking pool, there will be additional bitcoin and TOTM rewards for accurate predictions. These, again, will vary over time depending on the consensus of the Totem community. The BTC prizes will be measured in US dollar value (e.g. pool A will have a total of ~$2,500 worth of BTC).
To promote the collaborative effort of the crypto community, each individual’s reward will be increased by a set multiplier if the weighted average of the prediction pool is within a $50 range (± $25 from the actual price) of the actual value of bitcoin on maturity. The multiplier will increase with the duration of the pool, due to the increased difficulty in predicting prices further in the future. Details of each proposed pools and the respective prize distribution is included in the table below:
Additional “enhanced rewards” will be available for an individual the earlier they enter into the predictor pool. The increase in return will be fixed upon entering the pool regardless of when the pool actually departs. For example: Participant A enters into a pool with 125 hours until the projected time launch. They, therefore, gain a fixed additional 4% staking reward. This additional staking reward is gained irrespective of whether another participant fills up the pool prior to the full 125 hours passing (i.e. the trigger event is pool allocation met).
Please do get in touch with any ideas or feedback as we will always be looking to work with the community to better the project.
Thanks for reading,