Staking & IDO FAQ
What is the minimum amount of SOLR required to stake? 100 SOLR
What is the minimum and maximum number of weeks for staking? You can stake between 2 weeks and 8 weeks. We are capping the maximum staking period to 8 weeks, thus also capping the number of ticket to 8 per wallet at any given time
How many tickets can be earned by staking? There is a cap of 8 tickets which is applicable for each tier. Irrespective of how many weeks you stake, you can only earn a maximum of 8 tickets per wallet
When do I get tickets upon staking? Tickets are earned and available immediately upon staking. If there is any IDO whitelist going on, you can stake and participate in the whitelist immediately. No need to wait for the staking period to end.
How many tiers are there? I want to know more about the tiers There are 5 tiers with varying staking amounts and tier weightage. You can read all about the tiers in our medium post
Can I unstake or withdraw before the deadline? Ex: if I chose to stake for 8 weeks initially, can I change my mind and unstake before that? No. This is because you are awarded lottery tickets right after you choose the initial staking period.
When can I unstake? What happens after I unstake? You are free to unstake after the initial staking period is over. Once you unstake, any unused lottery tickets attached to your wallet will be purged immediately, i.e., your chances of winning an allocation in any IDO will be zero as you will not have any lottery tickets.
Can I restake? Yes. Once your initial staking period ends, you can either withdraw/unstake or restake. Please note that restake will take initial staking details by default. If you want to change the staking details, you can do it after restake. Please also note that you can’t reduce the tokens or period, you are only allowed to increase however.
How do I maximise the number of tickets? What is the maximum number of tickets one person can earn? You can increase your staking period to 8 weeks, and you will be rewarded with 8 lottery tickets. 8 is the maximum number of tickets any person can hold at any point in time.
Can the same wallet participate in different tiers like both seed and sapling? No
What if I prefer to stake forever and don’t want to re-stake every 8 weeks? Currently there is no such provision for automatic re-stake. However, in the future, we will implement automatic re-stake.
How to use the tickets for an IDO? Once you stake and earn tickets, you can participate in the IDO whitelist process by connecting your wallet. Number of tickets available will automatically show up. You can choose to participate with any number of the tickets, you don't need to use them all at once.
What happens if I have 8 tickets and don’t win an allocation for an IDO? Nothing. You will continue to retain all the eight tickets as long as you don’t unstake. So, you are automatically eligible for the next IDO.
What happens if I have 8 tickets, and win an allocation for an IDO? Congratulations on winning an allocation for the IDO! Your lottery ticket holdings will be reduced by half to give everyone a fair chance of winning in the next IDO.
Can you explain with examples on how and when tickets are reduced? Tickets are reduced only if you win an allocation. Consider following scenarios when you hold 8 tickets...
- If you enter with all your 8 tickets and win an allocation, you are left with 4 tickets
- If you enter with 6 tickets and win an allocation, you are left with 5 tickets because only the tickets used to enter the whitelist are reduced by half. In this case, you entered only with 6 tickets which will become 3. But you have 2 tickets left which you did not use, so the total will be 5 tickets, which you can use for the next IDO
- Please note that there is ZERO benefit to participating in an IDO with lesser number of tickets than you hold. So we always recommend you to enter with all your tickets. You will maximise your chances of winning an allocation and if you don't win, you retain all your tickets.
- If you enter with odd number of tickets, the remaining tickets are rounded off to the next higher integer value. If your remaining tickets (after reduction) comes out to be 2.5, they will be rounded off to 3 tickets.
What is the advantage of staking in higher tiers? Higher tiers have higher weightage which means they get bigger portion of the IDO pool. Additionally, it is expected to have lesser number of wallets staking in the higher tiers compared to lower tiers, which means there are higher chances of winning the allocation. The highest tier (Mighty Oak) is basically a guaranteed tier for foreseeable future.
How are IDO allocations awarded for each tier? Based on number of total tickets submitted per each tier, we run a lottery and pick the winning wallets. More tickets you have, higher your chances of winning the allocation.
Can I participate in an IDO with fewer tickets than available? Yes, you can participate with fewer tickets. But there is no real benefit to it. In order to maximise your chances of winning an allocation, you need to participate with all tickets available. Your tickets will remain intact if you don't win.
Is KYC mandatory for IDOs? KYC is mandatory for all winners before participating in the IDO. If you win an allocation but fail to do KYC, then you are not allowed to participate in the IDO.
Is the allocation amount same for all tiers? If yes, why? Allocation amount (per each winning ticket) is same for all tiers. However...
- Wallets in the Mighty Oak tier can win upto as many allocations as the tickets submitted (capped at 8). For example, if you submitted 8 tickets, you can win upto 8 allocations. If you submitted 4, you can win upto 4 allocations.
- Wallets in Tree can win upto a maximum of half the number of tickets submitted. For example, if you submitted 8 tickets, you can win upto 4 allocations. If you submitted 4, you can win upto 2 allocations.
- Wallets in Sapling can win upto a maximum of 1/4th the number of tickets submitted. For example, if you submitted 8 tickets, you can win upto 2 allocations. If you submitted 4, you can win only 1 allocation.
- Wallets in Seed and Soil are only allowed to win a maximum of 1 allocation irrespective of the tickets submitted. However, chances of winning is higher if you enter with more tickets as there is going to be a lot of competition in these tiers.