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PuddingSwap Locked Staking Product(Phase 1)
Dear PuddingSwap Fans:
In order to move on together with PuddingSwap and protect the rights of $PUD long-term holders, PuddingSwap decided to create the $PUD locked staking mechanism after hearing from the community.
The Locked Staking Pool Product(Phase 1) will be launching at 2021/08/11 21:00（GMT+8) and going through four periods:
- Deposit Period
- Locked Staking Period
- Unlock Date
- Rewards Distribution Period
Time for Deposit Period
2021/08/11 21:00 - 2021/08/16 21:00 (GMT+8)
Rules for Deposit Period
- 1.During the Deposit Period, users can select different products (7/15/30 day staking) to stake $PUD. (To ensure the contract of the locked staking pools works normally, PuddingSwap will do $PUD cut-back production changes: the regular token burn( each block produces 20 $PUD, 10 of them burned)turns into each block reduces 10 $PUD output. The actual number of $PUD supplied will remain the same.)
- 2.Once the users successfully participate in the deposit/staking, assets are locked into the locked staking pools. $PUD will be locked in the smart contract and can only be withdrawn after the locked staking ends. The $PUD staking cannot be revoked.
- 3.$PUD deposit/staking can gain $PUD Staking profits and ePUDs , ePUDs can be directly staked into the ePUD pool without the interference of locked staking, and the staking profits reinvesting will be automatically made every hour.(Staking rewards reinvesting will not obtain ePUD rewards)
- 4.The Deposit Period means just collect the assets that are ready to participate in locked staking. The profits calculation of locked staking start from 2021/08/16，21:00(GMT+8).
Time options for Locked Staking Pools
- 7 days Locked Staking Pool：2021/08/16 21:00 - 2021/08/23 21:00(GMT+8)
- 15 days Locked Staking Pool：2021/08/16 21:00 - 2021/08/31 21:00(GMT+8)
- 30 days Locked Staking Pool：2021/08/16 21:00 - 2021/09/15 21:00(GMT+8)
Reward Weights for Locked Staking Pools
- 7days Locked Staking Pool：1x
- 15days Locked Staking Pool：1.3x
- 30days Locked Staking Pool：1.5x
Rules for Locked Staking Period
- 1.During Deposit Period, users stakes $PUD into the locked staking pools and the $PUD will be fully locked. Users can not withdraw and trade until the Locked Staking Period ends.
- 2.Once Locked Staking Period started, $PUD can not be staked. It is recommended to deposit/stake in advance.
- 3.From 2021/08/16, 21:00(GMT+8), $PUD will come into the high-reward phase.
- 4.During the Locked Staking Period, all staked $PUDs will get high rewards of the locked staking pools and will be automatically reinvesting every hour. Rewards of staking and reinvesting will not obtain new ePUD.
Time for Principle Unlock Date
- 7 days Locked Staking Pool：2021/08/23 21:00(GMT+8)
- 15 days Locked Staking Pool：2021/08/31 21:00(GMT+8)
- 30 days Locked Staking Pool：2021/09/15 21:00(GMT+8)
Rules for Unlock Date
- 1.The principle can be unlocked once the Locked Staking Period ends.
Time for Rewards Distribution Period
- 7 days Locked Staking Pool：2021/08/23 21:00 - 2021/08/30 21:00(GMT+8)
- 15 days Locked Staking Pool：2021/08/31 21:00 - 2021/09/07 21:00(GMT+8)
- 30 days Locked Staking Pool：2021/09/15 21:00 - 2021/09/22 21:00(GMT+8)
Rules for Rewards Distribution Period
- 1.Rewards distribution will begin following the Unlock Date and will be distributed every 3s over the course of the following 7 days until fully distributed based on your earnings
- 2.After the release of all profits of the users, if some users don't withdraw them, the assets will wait for withdrawal and have no revenue although they are still in the locked staking pools. It is suggested that you timely withdraw your earnings after the end of the locked staking, then this phase of locked staking products ends.
Tips: Please read the announcement carefully. Once you participate in the event, $PUD will be locked in the smart contract, you cannot withdraw them until the locked staking event ends. PuddingSwap Team reserves the right to interpret the event at our sole discretion.