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Rewards
FTDex Rewards provide benefits for long term users of the protocol, these rewards come in the form of Escrowed FTDex and Multiplier Points.
There are two options for rewards on : "Compound" and "Claim".
Compounding will stake your pending Multiplier Points and Escrowed FTD rewards, this will increase the amount of rewards you receive.
Claiming will transfer any pending Escrowed FTD rewards and ETH / MATIC rewards to your wallet.
If you compound or stake your Escrowed FTD tokens, you can unstake them for vesting at anytime later on.
Escrowed FTD can be used in two ways:
- 1.Staked for rewards similar to regular FTDex tokens
- 2.Vested to become actual FTDex tokens over a period of one year
Escrowed FTD (esFTD) tokens can be converted into FTDex tokens through vesting, this can be accessed on the Earn page.
When vesting is initiated, the average amount of FTDex tokens that was used to earn the rewards will be reserved.
Depositing into the vesting vault while existing vesting is ongoing is supported.
Tokens that are reserved for vesting cannot be unstaked or sold. To unreserve the tokens, use the "Withdraw" button on the Earn page. Partial withdrawals are not supported, so withdrawing will withdraw and unreserve all tokens as well as pause vesting.
The third reward FTDex stakers get is not a token but comes under the form of multiplier points (MPs). Like in a game, those points give you access to rewards, but you can also lose them if you undertake certain actions.
Let’s look at the rewards first:
- MPs are awarded at 100% APR.
- Each FTDex can be staked to earn the same amount of ETH as a FTDex token.
In this regard MPs are similar to staked esFTD: they allow you to increase your MATIC payout.
But in order to keep your points, you have to keep your FTDex and your esFTD staked. Unstaking FTDex or esFTD will incur a burning of multiplier points proportional to the amount of tokens being unstaked.
For example, if you staked 1000 FTDex and accrued 200 MP so far, then unstaking 500 FTDex - 50% of your staked amount - will burn 100 MPs.
This gamified system rewards you points for staying staked for longer as the only way to acquire multiplier points is through staying staked for the long haul.
Distribution rates change on a monthly basis.
Dec 2022: 50,000 esFTD for FTDex provider & 50,000 esFTD for FTDex staker
Jan 2023: 60,000 esFTD for FTDex provider & 60,000 esFTD for FTDex staker
Feb 2023: 50,000 esFTD for FTDex provider & 50,000 esFTD for FTDex staker
Mar 2023: 50,000 esFTD for FTDex provider & 50,000 esFTD for FTDex staker
Apr 2022: 50,000 esFTD for FTDex provider & 50,000 esFTD for FTDex staker
Last modified 6mo ago