🏦Stake
In this section we explain the overall Ooki Staking Model
Last updated
In this section we explain the overall Ooki Staking Model
Last updated
Holders of OOKI tokens can stake OOKI to earn part of the Ooki protocol fees. Staking is only possible on Ethereum. However, the fees generated on all the different Ooki Protocol deployment chains will be earned by OOKI stakers on Ethereum.
On Ethereum users can visit the Staking page within the Ooki App. Ooki stakers on Ethereum earn fees generated on all chains that Ooki Protocol is deployed on.
OOKI token holders can stake their OOKI tokens to earn a portion of fees generated by the platform. The calculation of staking fees is as follows:
50% of fees go to treasury contract.
50% are distributed to Stakers.
Staking rewards are distributed to all users proportionally to how much they have staked of the total OOKI staked supply.
Total unstaked amount goes to OOKI/ETH LP providers on Sushiswap
Everything else goes to iOOKI, vBZRX, and OOKI.
Example: if 10% of total supply of OOKI is staked, then Sushi ETH/OOKI LP's gets 90% of fees.
Example: if 90% of total supply of OOKI is staked, then Sushi ETH/OOKI LP's get 10% of fees.
Users will soon be able to visualize how much OOKI is staked in the UI.
Statistics on current staking is also coming soon.
The rewards tab of the staking page allows users to perform the following:
Users can view the total rewards they've earned
Users can claim and restake the rewards they've earned.
Users can View Time-Locked Reviews.
Users can claim 3CRV, and OOKI rewards earned as well as SUSHI rewards from providing liquidity.
3CRV rewards which are distributed to stakers of OOKI, are earned by the protocol from trading fees on stablecoins traded on the platform. The stablecoin earned from trading fees are then converted to 3CRV and distributed to OOKI Stakers.
Fees generated on the platform from non stablecoin trading pairs are sold and used to buy OOKI and then distributed to OOKI Stakers as rewards.
Anyone can call the sweep fees function to distribute the rewards earned to OOKI stakers.
