The Guild’s Treasure — Full Details of the $GOG Active Staking
In October 2022, we announced the largest community rewards to date! The Guild’s Treasure — $GOG active staking. Five million $GOG in rewards is being distributed to early supporters who stake their $GOG tokens until closer to the launch of the game. Today, we are publishing the full details and calculations of The Guild’s Treasure. LFGOG! 🚀
Here’s the TLDR of our previous announcement -
- The Guild’s Treasure will run from the 7th of November 2022 over the next six months until May 2023
- Active stakers who hold $GOG in ImmutableX over a continuous streak will receive higher rewards. HODLing for longer reaps the ultimate rewards! 😉
- Tokens staked in the first and second week of The Guild’s Treasure will start off their streak at 12 months (which gives you a 2x bonus on staked $GOG)
- The first payment will be made in December (batching all weeks up to the date of the first payment)
In order to be eligible for active staking rewards -
- Your $GOG must be deposited on ImmutableX
- You must own a Rare or higher-valued Guild of Guardians NFT Hero
- You must satisfy at least one of the following criteria for each week -
- Trade: Buy or sell any Guild of Guardians NFT on the secondary market
- Stash: Increase your $GOG balance on ImmutableX by at least 1 $GOG (any $GOG rewards received do not count) from the start of the week to the end of the week
- Vote: Cast a governance vote with your $GOG tokens (not available yet)
But how can you estimate the rewards you are likely to receive?
In this article, we will step through the full details and calculations of The Guild’s Treasure. But if you just want to know the answer, we’ve collaborated with a member of our community who has built a staking rewards calculator based on the details below.
For the real nerds who want to know the deeper details in order to calculate their rewards — read on!
- The length of The Guild’s Treasure is 30 weeks, with the first week starting on 7th November 2022 to the final week starting on 29th May 2023
- Rewards are calculated weekly, starting at 00:00 on Monday and ending at 11:59 pm on Sunday UTC — for example, the final week starts at 00:00, on 29th May 2023, and ends 11:59 pm 4th June 2023 UTC
- Rewards are based on your minimum $GOG balance during that week
- Rewards are distributed monthly in the 4th week of the month, batching all complete weeks up until that date — please note that any $GOG rewards received (from staking or otherwise) do not count towards the Stash criteria for active weekly participation
What is the Holding Streak Bonus?
- A holding streak bonus multiplier is applied to $GOG held in ImmutableX based on how long it has been continuously held
- The multiplier grows logarithmically with every extra week it is held, up to a maximum of 2x at ~12 months held, and a minimum of 1x at 0 weeks held, i.e. the first week it is staked. The formula for the multiplier is: log(N+1)/log(52) + 1
- Tokens staked in the first and second week of The Guild’s Treasure will start out with a holding streak of 12 months (which gives you a 2x bonus on staked $GOG)
- Having $GOG in ImmutableX maintains the holding streak, even if active staking criteria are missed in any week
- Holding streaks are calculated for every cohort of $GOG added to a wallet — for example, if 100 $GOG is added to the wallet every week, the first 100 $GOG will have a higher holding streak bonus multiplier than the second 100 $GOG
- When $GOG is withdrawn from a wallet, it is removed from the cohort with the shortest holding streak first
- This multiplier is applied to each cohort, and the sum of all cohorts (after applying the multiplier) is treated as the effectively staked $GOG, provided that all other active staking criteria were met for that week
How to estimate rewards -
With 5m $GOG being distributed over 30 weeks, roughly 166,666 $GOG is distributed to active Stakers for each week of The Guild’s Treasure
Based on current network conditions (these may no longer be up to date depending on when you read this)
- ~25m $GOG is held on ImmutableX
- ~30% of $GOG is eligible for active staking rewards (e.g. fulfil the eligibility criteria)
- The average user holding streak is ~1.9x
Assuming a 2x holding streak bonus on 1,000 $GOG eligible for active staking, the estimated rewards can be calculated as follows:
- The entire network has effectively staked 14.25m $GOG = 25m x 30% x 1.9
- You have effectively staked 2,000 $GOG = 1000 x 2
- Your contribution to the staked network is 0.014% = 2,000 / 14,250,000 x 100%
- Your weekly rewards are 23.4 $GOG = 0.014% x 166,666.666666
- The annualised reward rate (rewards calculated weekly, distributed monthly, and assumes rewards are then staked) is 220% = [(1 + 166,666.666666/14,250,000 x 2 x (365/7/12))12–1] x 100%
To calculate this for yourself, a member of our community has built a handy staking rewards calculator based on the same calculation methodology as above. Please note that rewards are only estimates, as exact network conditions are unknown until the end of each week.
Why should I stake $GOG?
This is a limited opportunity to get involved in the largest reward to date (5m $GOG) to be distributed to reward the earliest supporters of Guild of Guardians, in the lead-up to the launch of the game. For true believers in the future of Guild of Guardians.
Why was the 2x holding streak bonus extended to the second week of The Guild’s Treasure?
In the first week of The Guild’s Treasure, it was expected that public sale participants could withdraw their $GOG from CoinList and move it into ImmutableX to stake it before the end of the first week of staking. However, due to withdrawal processing delays on their end, this led to some $GOG withdrawals being delayed until the second week of The Guild’s Treasure. Therefore, for fairness reasons, all $GOG held in ImmutableX by the end of the first and second weeks of The Guild’s Treasure was granted a 2x holding streak bonus.
What happens after the first 30 weeks of The Guild’s Treasure finishes?
We have a plan for this, but it involves something we are not allowed to share anything on yet 😉
Why did I receive a different reward than what was estimated?
Staking rewards are based on the network conditions for that week. While you have control over the amount you stake, and how long you’ve held your $GOG, staking rewards are shared across the entire network of stakers. If there is higher staking participation or a higher average holding streak than what was used in the calculation in any given week, the rewards will be lower than estimated as it is spread across more staked $GOG. Similarly, if the staking participation or average holding streak is lower than what was used in the calculation, the rewards will be higher than estimated.
Is there a minimum amount to stake?
While there is no minimum amount to stake, as staking rewards will simply be distributed as a percentage of the $GOG you have staked, this will be rounded down to zero if your reward is less than 0.000001 $GOG.
Which Guild of Guardians NFTs qualify for the weekly Trade criteria?
To satisfy the Trade criteria in any given week, you must buy or sell any Guild of Guardians NFT on the secondary market. This includes the following NFT collections:
- Heroes (TokenTrove | Immutable)
- Avatars (TokenTrove | Immutable)
- Pets (TokenTrove | Immutable)
- Other (TokenTrove | Immutable)
How do I buy and stake $GOG?
We have a full guide for this here!
We hope this article has armed you with the details and information to fully understand how the Guild’s Treasure Staking Program works! Thank you for taking the time to read and participate in the program. We are grateful to each and every one of you and are thrilled to be able to reward our loyal community members. 💖
Until next time, Guardian.