Staking
Last updated
Last updated
By staking with the WONDERs, contribute to the growth of the WEMIX3.0 ecosystem and share the block rewards generated from the nodes operated by the WONDERs as rewards. Deposit WEMIX with WONDER and earn rewards.
WEMIX is distributed as rewards after staking.
The APR may change according to the total Staked amount.
Adding to the staked amount is available at any time, and withdrawals are available about 7 days after making an unstake request.
The WEMIX 3.0 Mainnet has announced the Applepie hard fork and governance contract update as part of Phase 2. The governance contract update opens up WONDER Staking, which delegates WEMIX to WONDERs or Node Council Partners (NCPs) that participate in WEMIX governance and distributes PMR based on the NCP’s stake.
The ‘WONDERs’ are responsible for staking WEMIX and validating blocks on the network. All WONDERs are required to stake at least 1.5 million WEMIX. They receive a PMR(Permanent Minting Reward) based on the combined stake of the WONDER and the delegated volume of users. The block reward earned by the WONDER is then distributed to the delegated users, minus a fee set by the WONDER. The WONDER can set the fee himself, and any changes will be reflected in about 7 days. If the fee is increased, it can be increased by 50% from the previous fee. However, if the fee is set to 0%, it can be increased by up to 1% and then changed again. If it is decreased, it can be applied without limit.
In Phase 2, the distribution ratio of the PMR (Permanent Minting Reward) has been updated as follows:
| Block reward | Phase 1 | Phase 2 |
|---|---|---|
NCP | 40% | 50% |
Ecosystem | 25% | 25% |
Maintenance | 25% | 25% |
Grand Staking | 10% | - |
The Brioche hard fork on the WEMIX3.0 mainnet, along with the implementation of the 'block halving mechanism', has resulted reduction of the Permanent Minting Reward (PMR) from 1 WEMIX to 0.5 WEMIX per block.
Users can view each WONDER’s Total Staked Amount, Staking Ratio, Number of Stakers, Sharing Ratio, and Uptime in the ‘All Staking’ list of the Wonder Staking program and select the Wonder to deposit WEMIX to.
APR shows the reward rate based on the total staked amount of all 40 nodes.
Total Staked shows the total deposited quantity, which is the amount of WEMIX deposited in that wonder and its value in $.
Staking Ratio shows the stake percentage, which is the percentage of the governance contract where the staked amount is held that the wonder’s stake represents.
Number of Stakers shows the number of depositors, which is the number of users who are depositing to that Wonder.
Sharing Ratio shows the distribution rate, which means the percentage of a given Wonder’s total revenue that is distributed to delegates, excluding fees.
Uptime shows the activity rate, which is the percentage of blocks that occurred in the last 7 days that the wonder participated in validating.
Assets deposited through the Wonder Staking Program are stored in a smart contract, and the stake and reward for the assets are calculated in real-time according to the logic.
The APR is calculated based on a total of 40 nodes, including 13 temporarily operated by the foundation in addition to the 27 WONDERs that are currently participating in the WEMIX3.0 network. The APR of the WONDER Staking Program refers to the block rewards that WONDER receives through staking nodes that make up the WEMIX3.0 network. In other words, the product yield can be calculated based on the ratio of the amount staked on the 40 nodes and the block rewards received by NCPs.
Of the total 40 nodes that make up the WEMIX3.0 network, 27 nodes are currently operated by WONDERs' participation, and the remaining 13 nodes not designated to any WONDERs are temporarily operated by the WEMIX Foundation. The 13 nodes temporarily operated by the WEMIX Foundation each have a minimum quantity (1.5 million WEMIX) staked, and if a new WONDER joins, the staked 1.5 million WEMIX on the node will be re-attributed to the foundation’s inventory and become non-circulating.
The cumulative block rewards distributed to these nodes are kept as resources for ecosystem restoration or incineration and are not disposed of at the discretion of the foundation.
Detailed explanation of WONDER Staking structure can also be found on WEMIX Community. See announcement.
The reward that users receive when depositing assets in Wonder Staking is calculated based on the state of Wonder and the amount of the user’s deposit. Wonder receives a portion of the block reward based on the total amount of deposits and stake ratio, and users receive rewards from the block reward that Wonder has received after deducting fees according to their stake ratio.
For example, let’s assume that Wonder A has a total deposit amount of 2 million WEMIX. At this time, assuming that the stake ratio of Wonder A in the governance contract is 25%, the number of depositors is 5 (each depositing 100,000 WEMIX), the distribution rate is 40%, and there is no amount being withdrawn. The WEMIX 3.0 blockchain generates a block reward of 1 WEMIX per block, which means that a block reward of approximately 86,400 WEMIX is generated per day. Among them, 50% or 43,200 WEMIX is distributed to the Wonders. Based on this, the rewards that Wonder A and users receive are calculated as follows:
The total deposit amount of Wonder A is 2 million WEMIX, which is the sum of the initial deposit amount of 1.5 million WEMIX and the delegated amount of 5 depositors. Wonder A has a 25% stake in the Wonder Staking program. Therefore, it can receive 10,800 WEMIX out of the 43,200 WEMIX distributed to the Wonder Staking program per day. After that, Wonder A distributes 4,320 WEMIX, which is 40% of the received reward, to depositors.
| WONDER | Total Staked Amount (Staking Ratio) | Block Reward |
|---|---|---|
WONDER A | 2,000,000 WEMIX (25.0%) | 10,800 WEMIX |
WONDER B | 3,000,000 WEMIX (37.5%) | 16,200 WEMIX |
WONDER C | 3,000,000 WEMIX (37.5%) | 16,200 WEMIX |
Total | 8,000,000 WEMIX (100%) | 43,200 WEMIX |
Wonder A then shares the block reward according to the Sharing Ratio with the five stakers.
| User | Total Staked Amount | Reward |
|---|---|---|
User A | 50,000 WEMIX (10%) | 432 WEMIX |
User B | 100,000 WEMIX (20%) | 864 WEMIX |
User C | 150,000 WEMIX (30%) | 1,296 WEMIX |
User D | 150,000 WEMIX (30%) | 1,296 WEMIX |
User E | 50,000 WEMIX (10%) | 432 WEMIX |
Total | 500,000 WEMIX (100%) | 4,320 WEMIX |
User B is one of the five stakers who deposited 100,000 WEMIX to Wonder A and has a 20% stake. Therefore, User B receives 864 WEMIX out of the 4,320 WEMIX distributed by Wonder A.
Some of the rewards obtained by Wonder A are received as platform fees. The initial platform fee is 0 but it can be changed later. Additionally, the amount of WEMIX generated per block on the WEMIX3.0 blockchain may vary based on the number of halvings implemented through the 'Brioche' hard fork's 'block minting halving' mechanism.
Users can move their deposited assets to another Wonder or withdraw them using the ‘Change’ or ‘Withdraw’ function if the total deposit amount, stake ratio, distribution rate, etc. of Wonder change. If users apply for a change or withdrawal, all information regarding the Switch/Unstake will be stored in a form of an NFT(ERC-721). The Switch/Unstake can be completed about 7 days after the application date. This NFT is similar to an LP token a user receives after depositing in pool. No rewards will be generated during the 7 days. You can find more information about Wonder change and withdrawal functions in the user guide.
You can check the Wonder you selected in the ‘My Staking’ list and monitor changes in the stake ratio, number of depositors, distribution rate, etc. of Wonder. Also, if you have applied for a Wonder change or withdrawal, you can check the date when the change or withdrawal is possible and the change and withdrawal buttons will be activated 7 days after the application date.
