🥩Omax staking

Single side staking of Omax coin

What is Omax Staking?

Instead of the liquidity pools with pairs of assets, staking allows you to earn yield by staking a single type of asset. This simplifies the staking process for you.

Omax staking allows users earn rewards just for holding .

Benefits of Omax Staking

No Impermanent Loss: Unlike AMMs, you won’t face impermanent loss because you’re staking only one token, not a pair.

Hassle-Free Staking: No need to manage different positions or move tokens around as with other yield Farming methods.

Daily Accural: You'll earn rewards daily based on the APR rate and can claim them at the end of the staking period. The longer you commit to staking, the higher your APR.

How does Omax Staking work?

Omax Staking provides a convenient and hassle-free way to stake crypto tokens and earn staking rewards. Users can earn daily rewards via staking their tokens for a locked period of 90, 180, 270 or 360 days.

Your tokens will earn daily rewards based on the daily APR rate for the lock period, calculated as follows:

$$\text{Rewards} = \text{Deposited Assets} \times \frac{\text{APR}}{360} \quad \text{(rounded down to 18 decimal places)}$$

The staking rewards are distributed daily from 12:00 UTC on the day after the funds are deposited into the staking pool to the end of the staking period. For example, if a user stakes 1000 Omax in the 90D pool at 10 Feb 2024 14:00 UTC, the first reward will be distributed at 11 Feb 2024 12:00 UTC, and the last reward will be distributed at 11 May 2024 12:00 UTC. All the daily distributed rewards can only be claimed after the end of the staking reward.

Do note that APR is subject to changes daily. The estimated rewards shown at the start of the locked staking period may differ slightly from the actual rewards generated.

When can I claim my rewards?

Users can claim their rewards at the end of the staking period, which is 90, 180, 270 or 360 days from the locked date. The user must unstake the tokens by interacting with the staking contraсt on the corresponding page . Users can also claim rewards and restake their principal to restart the staking period. For users who have not claimed or unstake their funds, it will continue to accrue daily rewards at a significantly lower rate.

Tokens will not be withdrawable in the first third of the staking period (eg. First 30 out of 90D for 90D pool). Tokens will be withdrawable at a 15% penalty(maximum) fee for the second third of the staking period and 5% for the last third of the staking period.

If user decided to claim rewards, he has to click "Harvest" button, rewards will be sent to his wallet and deposit restaked for the same period.

If user decided to deposit more, he has to click "Deposit more", deposit amount will be increased for chosen amount and lock period will be restarted.

In case if user didn't withdraw or restaked (by clicking "Harvest" button), rewards APR will be reduced to 0.1% until user do some action.

Below is the details of pools:

Stake Period	APR	Total pool
90D	2%	250M Omax
180D	4.5%	500M Omax
270D	7%	1B Omax
360D	10%	2B Omax