⏳Three GMY periods
Staking - Distributing - Claiming
We have defined three distinct periods during which the usage related to the staking smart contract differs.
The 3 periods are included in the mainnet V1 version of GMY due to constraints related to the inner workings of the GMY smart contract.
We are working on a V2 update of the smart contract with technical improvements that will remove the need for different periods. ETA: Q3 2023.
Staking period
During this period, token holders can invest their MNTE tokens in the staking contract.
They will not be able to withdraw their funds or claim their rewards during this period, as it is entirely dedicated to staking MNTE tokens.
Distributing period
During this period, Mintera deposits the amount in USDT corresponding to the global staking rewards for all stakers into the GMY smart contract.
Then, the rewards are distributed to all users staking MNTE, based on their total share in the pool. One complete period must be completed since the investment to receive the rewards.
We have implemented this system so that users who have been staking for a complete cycle (including at least: 1 staking + 1 distributing + 1 claiming) are not disadvantaged compared to users staking late in the cycle. This is to avoid front-run attacks from malicious participants.
Claiming period
During the claiming period, stakers are able to claim the rewards in USDT which were allocated to them in the distributing period.
During this period, stakers can also completely withdraw their MNTE investments in order to exit the staking contract (and simultaneously recover the rewards if this had not been done previously).
Summary table
To summarize, here are the different possible actions or restrictions based on each period:
User can stake
Yes
No
No
Mintera distributes rewards
No
Yes
No
Staker can claim USDT
No
No
Yes
Staker can withdraw MNTE
No
No
Yes
Expected duration
15 days
5 days
10 days
Last updated