Q1. What is the Minimum Requirement for staking DFIAT?
As per August 2022, DeFiato has 3 active staking pools.
Pool 1: Stake min. 8,000 DFIAT, locked for 30 days – Earn 1 NFT
Pool 2: Stake min. 800 DFIAT, locked for 180 days – Earn 1 NFT
Pool 3: Stake min. of 500 DFIAT to get DFIAT daily (and additional partnership giveaway token)
Q2. What are the benefits of staking my DFIAT?
Srakers on pool 1 and 2: will receive Crystabaya NFT that is redeemable for 4-5 stars hotel stay in Vietnam, worth min. USD $100 (on retail and Opensea).
For pool 3: DFIAT stakers will be rewarded with more DFIAT daily. Staker will receive more incentive from double rewards (e.g.: DFIAT+TEN boosted reward on May-June 2022), airdrops, giveaways, and many more.
Q3. What is the reward distribution mechanism?
Pool 1: NFT reward will be given to Crystabaya wallet after the 30 days lockup
Pool 2: NFT reward will be given to Crystabaya wallet after the 180 days lockup
Pool 3: Reward is distributed directly to your wallet at 8AM UTC daily. You can accumulate the reward in your wallet until it reaches 500 DFIAT and stake it for more reward.
Q4. How to claim the Crystabaya NFT?
- Create a new account on crystabaya.com
- Make sure that you sign up with exactly the same email address that you used on your DeFiato account.
- Once signed up, log into your Crystabaya account.
- On the top right hand corner you will see your name, click on it
- Go to my bookings, the NFT reward should be available on this page.
- The NFT is redeemable at the given hotel on certain dates indicated. You can decide to keep it and redeem the hotel night or sell it via Crystabaya or Opensea.
Q5. What is the lock period of DFIAT staking?
Both Pool 1 and Pool 2 have a locked period, meaning staked DFIAT tokens will be locked for 30 or 180 days, with no early redemption option.
For Pool 3, it is a flexible staking pool with no locked period. However, if you decide to unstake your DFIAT, there will be a 7 days cool down period. Meaning you will receive your DFIAT back to your wallet at 8AM UTC 7 days after you unstake. You will not receive rewards during the cool down period.
Q6. How can I check my reward?
The reward distribution is automatically credited to your wallet balance. Please check your DeFiato wallet balance. If you would like to check the detailed distribution history:
- Go to Wallet
- On the top right click View History
- Choose Distribution
- It will give you the data of daily distribution of your staking reward.
Q7. How does DeFiato calculate the daily reward and the stated APY?
The amount of reward will vary depending on DFIAT price. If there is a double reward there will be additional APY, with APY based on the price of that certain token.
Here are some details regarding the calculation of DFIAT staking pool:
DFIAT APY: 50% p.a. fixed
If there is any additional reward (e.g. $ABC token) total APY will increase. Here is a sample calculation of the APY:
Total ABC token ready to be given away: 170,000
ABC annual reward amount: Total token x 365 days / duration of the event = 170,000 x 365 / 30 days = 2068333.3
Pool size: 3,000,00 DFIAT (pool limit may change)
Rate: DFIAT pool size / ABC annual reward amount = 3,000,000 / 2068333.3 = 0.6894
ABC annual APY: Rate x ABC spot price / DFIAT spot price = 0.6894 x 0.01784 / 0.01383 = 0.88934 = 88.9%
Total APY (annual) = $DFIAT APY + $ABC APY = 50 + 88.9 = 138.9%
Please note that total APY will change daily as token price changes daily.
Q8. How do I stake my DFIAT?
- Log into your DeFiato account
- Click on stake on the header menu
- Scroll down and choose DFIAT token
- Fill the desired amount of token to be staked
- Click stake, Click confirm.
- “Staking Successfully” notification will pop up on the top right of your screen.
Check out the detailed tutorial video
Q9. How do I unstake my DFIAT?
There are two ways where you could unstake.
- Click on the stake button on the top menu bar
- It will show you the list of staking pools available on DeFiato, Choose DFIAT pool.
- Scroll down to your list of current staking and click unstake.
- Click on the wallet button on the top menu bar
- Click stake on the left hand side menu bar. It will show you all of your active stakings.
- Click unstake.
Check out the detailed tutorial video