Staking, or some would call it ‘farming’ is becoming an integral part of all cryptocurrency and DeFi projects these days. It’s a good way to encourage holders to continue hodling their tokens, and also a good way to reward holders at the same time. Of course, there’re other benefits as well, as APY can sometimes be used to offset the opportunity cost, or even make a ‘bear’ market scenario more bearable for hodlers.

Of course, if you’ve not been living under a rock or a well, Dbook had partnered with Rocket Bunny last week, and every $DBK holder now can stake their $DBK on Rocket Drop!

Rocket Drop

Of course, like most staking pools out there, the longer you stake, the more rewards you get.

Aside from the flexibility in duration, Rocket Drop will be able to support the staking of other tokens as well, in this case, we’re talking about $DBK LP tokens.

We’ll be looking to reward liquidity providers of the $DBK and BNB pairing on Pancakeswap. And once we’re ready for this, LP providers will be able to stake their LP tokens, and be rewarded with a decent amount of $DBK in the near future!

DbookDAO.com

As we do not want to be holding the profits meant for the community, we’ve decided that profits should be distributed weekly. This will prevent the profit to be built up into a large amount which attracts unwanted attention.

However, this would mean that $DBK holders will need to be really active in the community, knowing when the next staking pool will start, checking if the current pool has ended.

How staking works in DbookDAO.com

Credit:@JimmyRinse
  1. A staking period will last 7 days
  2. Staking will only be allowed in the first 48 hours when the staking pool opens.
  3. A minimum staking period of 24 hours will be applied when $DBK is staked.
  4. A user will need to unstake and claim for the rewards at the end of each staking pool.

So, a few things to take note of:

  1. The unstake button will be available until the start of the next pool.
  2. There is a countdown timer to the staking time. So, if staking is ‘closed’, you’ve missed the staking window.
  3. If you’ve been away for a long time, and sure that your $DBK is in one of the staking pools, you’ll be able to query it by interacting with our smart contract on bscscan.io #safu
  4. The staking pool ends by a certain time. When the pool ends, you’ll no longer be rewarded, so it’s time to unstake and wait for the next staking pool.
  5. The base rate basically shows the reward per DBK staked on every second. So, it’s clearer than APY and definitely more accurate.

Whitelisted Pool

We’ll also be creating another staking pool. This pool can only be staked by users who have been whitelisted. The purpose of this design is for Dbook to reward community members who’ve contributed greatly to the cause, and will be given the special access to stake their $DBK for greater rewards.

The functions will be similar, with the exception of requiring to be whitelisted in order to be rewarded.

So, how do I get whitelisted and stake in this pool?

Well, to be honest, we don’t have a clear idea yet. But one possible use-case would be to allow community members to take part in our monthly bounty on Gleam.io, and members who successfully participated in all bounties will be whitelisted for the pool.

Nonetheless, this will be an effective way for the community to contribute to the project and be rewarded appropriately.