2023 is right around the corner. In the past two years, we have been running the Safe Haven Staking Program to show our appreciation for our community. We are pleased to announce that we will continue the Staking Program in 2023.
For those not familiar with the program, we dive a little further into it.
What is the Safe Haven Staking Program?
The staking program is a soft, fixed-stake based program that will always allow SHA token-holders the decision to remove their tokens and move them, as they see fit. The program is open door for node holders and non-node holders.
- Each staking period last for 1 month.
- Staking pools open for 5 days, from the 1st till the 5th of the month or until the pools have been filled, whichever comes first.
- Once an amount has been staked, it can be removed; however, any movement of SHA tokens away from the original staked amount will stop the entirety of the stake.
- Users must maintain their staked amount for the month period to receive rewards.
- The staking rewards can be claimed in the SafeNode app at the end of the month period.
How does staking with a node work?
Holding a Safe Haven node allows the holder to stake a greater amount of SHA-tokens within the staking program. However, to protect the integrity of the node program itself, the base token amount of each node-tier, will not be considered for staking rewards. Simply put, all staked SHA-tokens must be above a node’s threshold and node-holders can lose their maturity if a node is downgraded or dissolved.
A current Connect Node-holder holds 1,200,000 SHA-tokens within their registered node-wallet.
Connect threshold: 1,000,000 SHA
Amount holder can stake: 200,000 SHA
The original 1,000,000 SHA is not included in the staking computation, however it will allow the node-holder to stake a maximum of 400,000 SHA.
How does the APR Boost work?
APR rates will be increased with certain pool subscriptions.
- If a single pool hits 50% subscription, that pool unlocks an additional 0.5% APR boost.
- If a single pool hits 75% subscription, that pool unlocks another additional 0.5% APR boost.
- If any two pools hit 90% subscription, all pools unlock an additional 1% APR boost.
How does Pool size increase works?
If any pool has more than 95% subscription for two consecutive months, the pool size will permanently increase by 10%, with a maximum of 20% increase per year. This offers more SHA holders the opportunity to join the staking program.
How can you join as a new SHA holder?
The program also allows for non-node-holders to participate and earn SHA! As indicated in the graphic above, wallets that are not node eligible, can stake a maximum of 250,000 SHA at 1.5%, until the maximum is reached. This allows for even the most newly interested members of the community to experience a staking solution, while being introduced to Safe Haven’s decentralized financial solutions. It is important to note that the staking program will be facilitated from the SafeNode application, thus creating a segway for new users to begin their research on our SafeNode program as well.
More information about how to stake your SHA including a walkthrough, can be found on: https://safehaven.io/sha/staking/
Where are the staking rewards coming from?
The staking rewards were obtained by the Safe Haven team, utilizing a market buy-back of 45 million SHA at the beginning of 2021. The following VeChainThor wallet address is used to store the SHA tokens and is available for the public to review:
Link to VeChainStats: 0x49347FA60C87B99eEDc0E8658bc0F72073F94bED
We are pleased to continue the Staking Program, as a sign of appreciation for the support of our community. We are looking forward to move into 2023, we belief there are exciting times ahead!Back to news