$SOLAR Staking
In the previous section we studied $SOLAR Distribtion. Here we will learn about this utility tokens incentives and rewards mechanics.
Last updated
In the previous section we studied $SOLAR Distribtion. Here we will learn about this utility tokens incentives and rewards mechanics.
Last updated
SolarShare incentivizes users with up to 25% annual rewards based on their NFT’s Generation Capacity—the share of solar panel electricity production linked to the NFT. All NFTs are entitled to 90% of their Generation Capacity rewards, but staking $SOLAR tokens is required to unlock the full rewards in $USDT.
Here’s how it works:
Unstaked NFTs: If your NFT isn’t fully staked, 50% of your rewards will be automatically used to acquire and stake $SOLAR tokens in your account.
Fully Staked NFTs: Once fully staked, you receive all your rewards directly in $USDT. Once fully staked, participants can "opt-in" to continue receiving 50% of the rewards in $SOLAR utility tokens. The opt-in tokens are not staked and are free to move at will.
To fully stake an NFT, users need $SOLAR tokens equal to 30% of the NFT’s initial store value. For example, a $100 NFT requires $30 worth of $SOLAR tokens. The number of $SOLAR tokens needed is recalculated monthly based on the token’s value. If the $SOLAR value goes above or below the required amount, users can either withdraw the excess or will need to fill in the missing amount.
Users can manually stake $SOLAR tokens to unlock their full rewards immediately. At anytime tokens are unstaked, the system will revert to, again, using 50% of rewards to purchase and stake $SOLAR tokens.
Long-term incentives such as $SOLAR airdrops are available based on staking tier and duration, as detailed in the Airdrop Table below.
The staked $SOLAR tokens belong to the user and can be withdrawn at any time, following the guidelines of the Early Unstake Fee Table below.
Staking is flexible, though there is a 7-day period before staked $SOLAR is returned to the user’s wallet once the unstake function is initiated. During this period, users will continue to enjoy staking benefits.
Airdrop Incentives are based on a percentage of $SOLAR utility tokens staked within SolarShare NFTs. These rewards are distributed at the end of each year for up to five years.
E.g. if 100 $SOLAR tokens are staked in a SolarShare NFT, the reward for that tier would be 2.5%, or 2.5 $SOLAR tokens.
Early Unstake Fee amounts are a percentage of $SOLAR utility tokens staked inside the SolarShare NFTs.
E.g. Having 100 $SOLAR staked inside the NFT, and Unstaking your $SOLAR after only 10 months means a penalty of 5%, or 5 $SOLAR tokens. The amount is automatically sent to a burn address by smart contract.
