We are pleased to announce the rollout of two added products to our ecosystem. ROOTx single side staking + ROOTx burn for SROOTx.
A brief summary of both is noted below.
Burn ROOTx for SROOTx
On the run up to additional utility announcements, alongside opportunities for both tokens, we have now opened the burn ROOTx for SROOTx protocol.
This is calculated on a 1:5 ratio basis.
As an example- If you burn 10 ROOTx, you will receive 50 SROOTx.
Please be aware that SROOTx has a significantly higher total supply, and is used predominately as a token for BEARWORLD + DAO, whereas ROOTx is for direct, daily access utility (like Whitelist spots, mints, and access to other partnered opportunities).
How do i burn ROOTx?
- Head to https://bearxlabs.com/BurnROOTxToGetSROOTx
- Click Approve All (you may have to pay gas here) and type in how much you’d like to burn, and click burn (where you’d have to pay gas for too)
- You will then have the respective amount of SROOTx in your wallet, with the respective amount of ROOTx you burned, gone forever.
Reason why we have this protocol: This is to allow ROOTx holders to exchange their tokens for SROOTx. Simply, this is game theory and the decision of the owner solely. There will be significant reasons why you should have a lot of ROOTx, and likewise with SROOTx. The choice is yours.
Stake ROOTx, Earn ROOTx​
We are excited to launch single side staking into our ecosystem. This means you can now stake ROOTx tokens, and earn ROOTx as a reward. This will be one of only two ways you can yield ROOTx, with the other being staking Genesis Bears.
ROOTx allocation ​
ROOTx staking reward allocation, along with the phase breakdown of rewards, is as follows:
Phase 1:
Length: 30 days
ROOTx per block: 3.7
ROOTx distributed per day: 24,088
Phase 2:
Length: 90 days
ROOTx per block: 1.76
ROOTx distributed per day: 11,441
Phase 3:
Length: 240 days
ROOTx per block: 0.69
ROOTx distributed per day: 4,516
Phase 4:
Length: 361 days
ROOTx per block: 0.37
ROOTx distributed per day: 2,408
**To clarify — the above figures is what is distributed across all holders per block / per day.
How are the ROOTx rewards calculated?​
ROOTx staking rewards per block are calculated by:
(ROOTx staked by User A / Total amount of ROOTx staked) x ROOTx generated per block.
How do i begin staking?
Simply
- Head to https://bearxlabs.com/tokenstaking
- Ensure your wallet is connected, scroll down, and type the amount you wish to stake, and press ‘stake’ (you have to pay gas twice the first time).
3. After you stake, you will see additional information that will show up on your dashboard, like the following:
The information includes the following:
Remaining Days: This will countdown from 30/31 days to 0. This indicates how many days you have to can claim your rewards. Please note, you can only claim ONCE every 30/31 days.
Staked Amount: The total amount of tokens you have staked
Claim: This button will be available when the remaining days is as 0. You will then be able to claim your token rewards through this button.
Unstake: Unstake your tokens.
Reason why we have this protocol: Single side staking is an important product we wanted to add for ROOTx. This is largely because those who own ROOTx will want to earn more from the tokens held, without having to trade them at the respective time. Yield diminishes through time to reward those who stake early and at volume.
