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Staked Prize Pool
The Stake Prize Pool is a prize pool that uses $MNRY as the underlying asset.
Users can stake their $MNRY to become eligible for whatever reward is defined as the prize strategy for that pool.
It is beneficial for protocols that are sitting inactively in the user's wallets - So why not stake them in a pool and become eligible for rewards?
The returned ticket you could think of as a "proof-of-liquidity."
The underlying staked asset can be retrieved by calling:
function token() returns (address);
As from the 1st of June, this will be a weekly awarded prize, so the Prize Period is set to 7 days. That means that a minimum of 7 days must have elapsed since the last award before the next prize can be awarded. The time the pool has created will be the start time.
The Prize Pool is created with the Multiple Winners prize strategy that splits the prize among multiple winners.
It's possible for a user to deposit immediately before the prize is awarded, then withdraw immediately after. To mitigate this, prize pools impose an early exit fee to ensure fairness.
The early exit fee is the percentage of the withdrawal amount that must be contributed to the prize. In this case, the early exit fee is 10%, so upon withdrawal, a user must contribute 10% of the withdrawal amount to the prize. However, the exit fee decays over time to zero so that most users can withdraw instantly without any cost. The exit fee decays to zero over 14 days.
Last modified 1yr ago