The Farms
In each realm, the Farms is a place to stake liquidity pool tokens (referred to herein as “LP tokens”) to receive a share of power token emissions. In the RUBY Farms , players can stake to receive RUBY emissions.
Additionally, players can assign their Hero NFTs to work in their farms . Those Heroes earn additional rewards in RUBY based on the skill of the Hero and the amount of LP tokens staked in the farm they're tending, so players who stake LP tokens in the Farms and quest Heroes in those same Farms have synergistic utility for their NFTs right away.
Epochs and Emissions
Each power token has its own emissions schedule. Generally speaking, emissions per minute are higher when the token launches, and decrease over time. This decrease in emissions is not linear, so it is important to review the emissions schedules for each token in its related Farms subpage.
Emissions are governed by periods of time called Epochs. Each token starts in Epoch 1 on launch, which has the highest emission rate. With each Epoch, the rate may change or may remain consistent, as shown in each token's chart on its Farms page.
Epochs on the OKC chain are linked to block speed, so RUBY emissions are tied to the speed of the OKC chain and the length of each Epoch (ideally one week) may vary if the chain experiences slowdowns.
Allocations and Rewards
The total amount of each power token emitted per minute can be determined by Epoch, but those tokens have to go somewhere! Each individual garden (representing a specific incentivized LP pair) is assigned an allocation of the total tokens minted. The allocation for each incentivized pool can be viewed in the Seed Box on each realm. Based on the current Epoch, its emission rate, and the allocation for a specific pool, players can determine how many tokens will be emitted to that pool every second, minute, or day. From there, the pool divides those tokens among all of the players staking LP tokens in that pool proportional to their share of the total pool and distributes them as rewards. When making these calculations it is imperative to remember that players can enter or leave liquidity pools freely, so each player's share is constantly in flux as liquidity is added or removed.
Locking Model
To balance the high emissions rates in earlier Epochs and to provide price stability, our tokenomics includes a locking model on Farms rewards. Until a certain point in each emission schedule, only a portion of the tokens grown, harvested, and distributed as Farms rewards to LP token stakers is unlocked. Once claimed, these unlocked reward tokens transfer directly into the player’s wallet and are immediately usable. However, a portion of Farms rewards are also locked deep underground. These rewards are allocated to the player's wallet, but cannot be accessed or used in any way until they become unlocked.
For each token, starting in Epoch 1, 5% of claimed rewards are unlocked while 95% are locked. Each Epoch, the percentage of claimed rewards that are unlocked increases by 2%, so in Epoch 2, 7% are unlocked and 93% are locked, and so on. It is important to note that these percentages are based on the Epoch at the time that the player chooses to claim, not when the rewards were allocated. If a player chooses not to claim right away, the percentage of tokens that will be unlocked that they will be able to claim increases by 2% each Epoch. Once a player does claim, however, the remainder of the claimed rewards, which are locked, remain locked until the end of Epoch 51, at which point they begin unlocking ratably over the next 52 Epochs. After Epoch 51, no further locking will occur and all newly generated rewards will be fully unlocked immediately.
Locking Model - Early Unlocking with Hero NFTs
One of the most unique features of Song of Rising is our Hero NFTs that provide true in-game utility. The Mining profession is one such use-case. Players who have locked rewards can send their Heroes on mining quests to unlock some of those tokens early, granting access to locked rewards before their natural unlock.
Not all Heroes will have the same level of proficiency in mining, so it is important to learn about the various stats that Heroes use and how each profession works when looking to buy and use them.
Garden Staking Deposit and Withdrawal Fees
There are no deposit fees for staking LP tokens in the Farms. To protect against flash loans and pump and dumps, we have implemented withdrawal fees for withdrawing staked LP tokens. The first deposit and every subsequent withdrawal resets the fee timer. The withdrawal fees are listed below:
0.01% fee if a user withdraws after 4 Epochs
0.25% fee if a user withdraws after 2 Epochs but before 4 Epochs
0.5% fee if a user withdraws after 5 days but before 2 Epochs
1% fee if a user withdraws under 5 days. *
2% fee if a user withdraws under 3 days. *
4% fee if a user withdraws under 24 hours. *
8% fee if a user withdraws under 1 hour. *
25% slashing fee if a user withdraws during the same block.
*In the case of OKC chain, days/hours listed assume a 3.8 seconds per block speed during such period and will depend on blockchain speed.
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