Welcome to Icarus Staking
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$ICARUS Staking Explained
Choosing $ICARUS as the Reward Token
Rather than introducing a third token, we opted to reward stakers with $ICARUS, Below is part of our rationale:
- Sustaining Value: Introducing a new token could potentially dilute the value of $ICARUS and $WINGS. By continuing to use $ICARUS as the reward token, we focus all economic energy on enhancing its value and utility, reinforcing its central role in Icaria.
- Avoiding Market Saturation: A third token could lead holders to perceive it as a mere liquidity tool, possibly resulting in rapid sell-offs or “dumping”. Such actions could undermine the new token`s value and, by extension, the overall stability of Icaria.
- Market Confidence: We found it challenging to ensure that a new token would be immediately valuable to the community. By rewarding stakers with $ICARUS, we maintain confidence and continuity within Icaria.
- Focus on Building Icaria: Keeping staking rewards streamlined with $ICARUS allows us to concentrate our efforts on expanding and enhancing the offerings within Icaria. This focus on utility is what sets $ICARUS apart from other coins on Pulsechain.
The Importance of $WINGS
$WINGS plays a crucial role within Icaria, designed specifically to amplify the benefits of staking $ICARUS. Drawing inspiration from the mythical story of Icarus, whose flight was made possible by wings crafted from wax and feathers, we created $WINGS to enhance participation and rewards within the staking pool.
- Enhanced Staking Rewards: Currently, the primary function of $WINGS is to increase a staker`s share of the staking reward pool. By pairing $WINGS with your $ICARUS stake, you effectively “boost” your stake`s weight in the pool`s distribution algorithm. This boost increases your proportion of the total staking rewards, allowing your $ICARUS to “fly higher” in terms of yield. Icarus himself would be proud 😎
- Supply and Staking Ratio: The supply of $WINGS was intentionally set at ~1/16th that of $ICARUS. This ratio is designed to balance accessibility with impact. For every 16 $ICARUS staked, you can pair it with 1 $WINGS, optimizing your stake while maintaining the token`s exclusivity.
- $WINGS Multiplier: Less Than 1000 $ICARUS Staked: Each $WINGS added increases your share of the staking pool by a 1% multiplier per stake. More Than 1000 $ICARUS Staked: Each $WINGS added increases your share of the staking pool by a 0.4% multiplier. These ratios are designed to help smaller $ICARUS holders gain a larger share of the staking pool.
- Pairing Your $WINGS: There is a maximum of 250 $WINGS that can be paired per stake. This creates balance: emphasizing the holding of $ICARUS, while at the same time, having a fair $WINGS utilization. While the immediate benefit of $WINGS is to enhance a participant`s staking share percentage, its limited supply and integral role in Icaria open up various possibilities for future utility. As Icaria expands and evolves, $WINGS is poised to play increasingly significant roles, potentially in governance, exclusive access, or as a key to new features within Icaria.
Staking Pool and Halving
Initial Distribution and Halving Mechanism
When staking begins, there will be a daily distribution of 750 $ICARUS into the staking pool. To incentivize early participation and reward early adopters, we developed a halving mechanism that significantly impacts the distribution rate over time. Every 180 days, the daily distribution amount will be halved. This means the initial daily reward of 750 $ICARUS will be reduced to 375, then to 187.5, and so on.
Purpose of the Halving
The halving mechanism serves several critical purposes:
- Encourages Early Staking: By reducing the reward over time, we encourage users to stake early. Early stakers benefit from higher daily distributions, thereby maximizing their returns as compared to those who join later.
- Sustains Long-term Value: Halving helps promote price stability and sustains $ICARUS`s value over time.
- Build Anticipation for Marketplace Launch: As we approach the Marketplace launch, early stakers have the opportunity to accumulate significant amounts of $ICARUS. This accumulation allows them to leverage their holdings within the Marketplace, enhancing their purchasing power and overall experience.
This strategic distribution model is designed to ensure those who commit to our ecosystem early are duly rewarded. We aim to create a vibrant community where staking $ICARUS is seen as a valuable and lucrative endeavor.
Staking Duration
Choosing Your Staking Term
We`ve designed staking to accommodate a wide range of durations, from a minimum of 1 day to a maximum of 730 days.
Longer Pays Better Bonus
We believe in rewarding commitment. To accomplish this and to incentivize longer-term staking, we`ve implemented a “Longer Pays Better” multiplier. The rationale is simple: the longer you commit your $ICARUS to the staking pool, the higher your share of the pool`s rewards should be.
Longer Pays Better Multiplier:
Less Than 1000 $ICARUS Staked:
Daily multiplier is set at .343%
More Than 1000 $ICARUS Staked:
Daily multiplier set at .137%
The goal is to help all $ICARUS holders, regardless of what is staked, to be excited about receiving more $ICARUS.
Early Withdrawal Penalty and Making $ICARUS and $WINGS Deflationary:
A key element of $ICARUS staking is our unique approach to handling early withdrawals from staking positions.
- Early Withdrawal Penalty: To encourage stakers to fulfill their committed duration, penalties are imposed for early withdrawals. The severity of the penalty is directly proportional to the remaining term of the stake—the sooner a stake is ended before its maturity, the higher the penalty.
- Redistribution and Token Burn:
- Community Benefit: 80% of the penalty collected from early withdrawals is now immediately redistributed to the staking pool. This immediate distribution will be allocated according to each staker`s share of the pool at the time of distribution, similar to the model used by Hex. This approach ensures that active participants benefit directly and promptly, further incentivizing participation in the staking protocol.
- Deflationary Impact: The remaining 20% of the $ICARUS penalty is permanently burned. 100% of the $WINGS received from penalties will be permanently burned.
That`s right, $ICARUS and $WINGS are now DEFLATIONARY! 😱🔥
Community Benefit
- This penalty system is designed with the community in mind. Stakers who commit to their stake`s maturity provide stability to the market and therefore deserve to be rewarded. Those who choose to withdraw early provide an additional bonus to these committed stakers, reinforcing the community-focused nature of our staking model.
Significance of $ICARUS and $WINGS Deflationary Feature:
- Promoting Token Scarcity: This deflationary mechanism is crucial for enhancing long-term value, making $ICARUS and $WINGS even more rare and valuable than they are now.
- Incentivizing Long-Term Participation: The dual benefit of enhanced rewards and increased token scarcity encourages holders to engage more deeply with our staking program, aligning their interests with the health and growth of Icaria.
Olympian Donations
We are proud to introduce the Olympian Donation feature: a unique initiative designed for our most influential supporters who wish to give back to the staking pool and boost staking yields for all participants.
How It Works:
- The Donation: Any generous $ICARUS holder, can donate their $ICARUS directly to the staking reward pool. This donation is designed to enrich the staking pool by increasing the daily reward payout.
- Calculation of Bonus: The total amount donated is immediately allocated to the staking pool. This means the full donation enhances the staking reward pool instantly, distributed to participants based on their share in the pool at the time of the donation.
The Olympian Donation is more than just a boost to the daily payouts; it`s a testament to the strength and generosity of our community.
We invite all our token holders to participate in staking, enhance their holdings, and enjoy the benefits of being an Icarian!