Stake HYDT
Note: Minimum HYDT stake amount is set to 200 HYDT temporary to reduce the high gas cost affecting user's profitability. Dev team is working on implementing new contract which will reduce the gas cost, minimum stake amount is removed once new contract is ready.
HYDT Staking Overview
Users can stake HYDT to get fixed high yield on their HYDT stable coin.
There are 3 plans available with different Staking periods and yields:
104% payout in 90 days (1.156% daily), 16% APY
110% payout in 180 days (0.611% daily), 20% APY
130% payout in 365 days (0.356% daily), 30% APY
These payouts are base HYDT returns and does not include Governance Token($HYGT) reward.
Users will receive the staking principal and the return at the same time, for example, if you choose the 30% APY for 365 days tariff, you will receive 0.356% of your Staking amount daily, 130% total over 365 days.
HYDT Protocol’s staking system pays out principal and yield simultaneously, which means you earn even higher yield by constantly re-staking the reward you receive.
Because principal and yield are paid out gradually during the staking period, there is no principal release at the end of the staking period and no early redemption is available.
User can claim staking reward at anytime.
When depositing HYDT, the user will have sHYDT staked, which acts as a deposit certificate.
1.5% platform fee will be deducted and transferred to the treasury when Staking HYDT into the Stake HYDT feature.
Upon reward claim after maturity, the user's deposit certificate token will be burned.
Stake HYDT function provides stable high returns for users, but user's staking is locked and can't be released manually. This feature will stabilize the HYDT price by avoiding "bank runs" which many users try to cash out of the HYDT protocol at the same time.
Also Check this document to understand how HYDT is pegged to USD.
Governance Token Reward
Governance token ($HYGT) reward for HYDT Staking users is live. $HYGT Token emission table is follows:
104% payout in 90 days (1.156% daily), 16% APY : 0.2 HYGT per block
110% payout in 180 days (0.611% daily), 20% APY : 0.6 HYGT per block
130% payout in 365 days (0.356% daily), 30% APY : 1.2 HYGT per block
$HYGT reward is paid out separately from the $HYDT payouts. $HYGT is additional reward and there are no guaranteed APY rate.
Known issue
There are known issue of smart contract of HYDT Staking, which user will experience higher than normal gas cost upon the final reward claim of the staking. (~$7 gas cost on some case)
Development team is currently working on implementing new smart contract to reduce the gas cost to the normal level.
Until new contract is implemented, user is recommended to stake HYDT with large amount to minimize the effect of high gas cost to the profitability of users.
Last updated