Guardians, in our latest Dev Diary, we revealed the exciting launch of GOG NFT Staking for The Guild’s Treasure — Season Two, in collaboration with Guardians Guild Limited. A sum of 6 million $GOG has been set aside for season two rewards, divided between the new GOG NFT staking initiative and the continuous $GOG active staking. In this article, we’ll delve into the essentials of The Guild’s Treasure, Season Two— $GOG Active Staking. Let’s GO! 👇
- The Guild’s Treasure Season Two— $GOG Active Staking will run from the 5th of June 2023, spanning a six-month period until December 2023 — During this period, 4 million $GOG rewards await our steadfast community members who participate.
- Active stakers who hold $GOG in Immutable X over a continuous streak will receive higher rewards, AND, holding streak bonuses from Season one will carry over to Season two!
- The first payment for The Guild’s Treasure Season Two— $GOG Active Staking will be made by the end of July 2023
- Out of the 6 million $GOG designated for The Guild’s Treasure Season Two rewards, 4 million is set aside specifically for $GOG Active Staking.
$GOG Active Staking
Given the success of The Guild’s Treasure, Season One— we will be continuing $GOG staking in its current form.
How to be eligible for active staking rewards
- Your $GOG must be deposited on Immutable X
- 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 within our ecosystem (Not available yet)
How rewards are calculated
The calculation methodology for $GOG active staking is consistent with that of Season One— the amount in rewards you receive will be proportional to your total % share of all $GOG staked in a single reward period (weekly).
Here’s what you need to know…
4m $GOG will be distributed over 30 weeks until the end of December, with the final epoch on the 25th of December. This means roughly 133,333 $GOG will be distributed to active stakers each week of The Guild’s Treasure. This will be in addition to the GOG NFT Staking program — which will be an addition to The Guild’s Treasure Season Two. (More details to come on this soon!)
Based on current network conditions (these may no longer be up to date depending on when you read this)
- ~32m $GOG is held on Immutable
- ~50% of $GOG is eligible for active staking rewards (e.g. fulfil the eligibility criteria)
- The average user holding streak is ~1.8x
How to estimate rewards
Based on example 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%
- Rewards are calculated weekly, starting at 00:00 on Monday and ending at 11:59 pm on Sunday UTC.
- Rewards are based on your minimum $GOG balance during that week.
- Any weighting bonus applied during Season One of $GOG active staking will carry over to Season Two for $GOG Active Staking.
- The length of The Guild’s Treasure is 30 weeks, with the first week starting on 5th June, 2023 to the final week starting on 25th December 2023
- 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
$GOG Active Staking Season 2 Distribution Table
What is the holding streak bonus?
- A holding streak bonus multiplier is applied to $GOG held on Immutable, 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
- Having $GOG on Immutable 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
Why should I stake $GOG?
This is a limited opportunity to get involved in the largest rewards to date! A whopping 5 million $GOG will be shared among those who’ve been the pillars of Guild of Guardians from the start. This opportunity comes as we gear up for the game’s launch and is specifically designed for those who passionately believe in Guild of Guardians.
What happens to my holding streak bonus from Season One?
Any weighting bonus applied during Season one of $GOG active staking will carry over to Season two.
When is GOG NFT Staking Launching?
GOG NFT Staking will be launching soon, along with retroactive surprise NFT staking rewards to reward our loyal supporters. Keep your eyes peeled for an upcoming article on everything you need to know! 👀
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 Season Two— $GOG Active 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.