Shiboo LP Staking
Program Overview
The Shiboo LP Staking platform allows users to stake their Shiboo Liquidity Provider (LP) tokens to earn generous staking rewards. This program is designed to encourage long-term staking while ensuring stability and reducing sell pressure on $SHIBOO.
Staking Rewards Structure
Users who stake their Shiboo LP tokens will receive rewards in two forms:
Casper Tokens ($CSPR):
Half of the staking rewards are distributed in Casper tokens, which can be claimed at any time.
Locked Shiboo Tokens ($LCKSHIBOO):
The other half of the rewards are distributed as Locked Shiboo tokens, which can also be claimed at any time.
To convert Locked Shiboo tokens into Shiboo tokens, users must commit them through a dedicated portal. After committing, the tokens will convert into Shiboo tokens after a 3 month period. This mechanism reduces immediate sell pressure on the Shiboo token.
Claiming Rewards
Casper Rewards: Can be claimed at any time without restrictions.
Locked Shiboo Rewards: Can also be claimed at any time. However, to convert them into real Shiboo, users need to commit them through the portal, after which they will be converted into real tokens after a 3 month waiting period.
Early Withdrawal Penalty
To encourage long-term staking and prevent rapid withdrawals, the following penalty system applies:
First 2 Days Penalty:
For the first 2 days, there is a 90% penalty on LP tokens.
For example, if a user deposits 100 Shiboo LP tokens and withdraws within the first 2 days, they will only receive 10 LP tokens, with a 90% penalty applied to the rest.
Penalty After 2 Days: After the first 2 days, the penalty decreases daily based on this formula:
(61−days staked)×0.5%Example: After 2 days, the penalty drops to 29.5%: (61−2)×0.5%=29.5%
The penalty continues to be reduced until it disappears after 60 days of staking.
Penalty Timer Reset:
Every new deposit of Shiboo LP tokens you do resets the penalty timer. This ensures that frequent deposits restart the staking period, encouraging long-term commitment.
Staking Benefits
Earn Huge Dual Rewards: Earn Casper tokens and Locked Shiboo tokens by staking Shiboo LP tokens.
Flexible Reward Claiming: Both Casper and Locked Shiboo rewards can be claimed at any time.
Controlled Conversion: Convert Locked Shiboo tokens into real Shiboo by committing them through the portal, with conversion taking place after the 3 month period.
Early Withdrawal Penalties: The penalty system promotes long-term staking and prevents short-term withdrawals.
How to Get Started
Add Liquidity:
Before staking, you’ll need to provide liquidity to the Shiboo-CSPR pool. To do this, ensure you have both Casper and Shiboo tokens.
Visit Friendly Market and add liquidity to the Shiboo-CSPR pool. Here is a short video guide: https://x.com/Shiboo_cspr/status/1839651250347909352
Once liquidity is added, you’ll receive Shiboo LP tokens in return.
Stake LP Tokens:
After obtaining Shiboo LP tokens, visit the Shiboo staking platform and deposit your LP tokens into the staking contract to start earning rewards.
Claim Rewards:
Collect your Casper tokens and Locked Shiboo rewards at any time.
Commit Locked Shiboo:
To convert Locked Shiboo to Shiboo, commit them through the portal. After a 3 month period, they will be converted into Shiboo tokens.
Conclusion
The Shiboo LP Staking program is designed to reward long-term holders while maintaining the stability of the Shiboo token. By offering dual rewards, a controlled conversion system, and a penalty structure, the platform incentivizes sustained participation in the Shiboo ecosystem.
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