Hello PhoenixDAO community,
The eagerly awaited staking event is finally upon us, in just a few days full details on the launch of Ferrum Networks UniFyre mobile staking platform will be announced and PHNX is going to be the first token to go live!
This unique event gives you a chance to lock in PHNX to either a 3 or 6 month contract and once your selected stake period is complete you’ll receive high percentage rewards paid in PHNX.
A separate announcement will be made confirming the date and time of when the staking pools will open, it’s important to note that these pools are on a first come first serve basis, once the allotment is full on each contract they will be closed. We don’t expect them to be open for long! And neither do some well known influencers in the space — Wendy O
Why just a short event? — This decision was made because as you may or may not know, PhoenixDAO are close to launching the PHNX Spot Staking dApp Which will give our ever growing community even more flexibility on staking.
FLEXIBILITY — SHORT PERIODS — HUGE REWARDS!
UniFyre Download Links
Staking Options
Flame Plan — 10% *plus+
The Flame plan is a 3 month stake whereby users lock in their preferred amount of PHNX for the total duration of the event and receive the full 10% reward (representative 40% APR).
In addition to accommodate users who may decide they want to cancel the contract before completion of the full period we are enabling early withdrawal.
Inferno plan — 15% *plus+
The Inferno plan is a 6 month stake whereby users lock in their preferred amount of PHNX for the total duration of the event and receive the full 15% reward paid out in PHNX tokens (representative 30% APR).
In addition to accommodate users who may decide they want to cancel the contract before completion of the full period we are enabling early withdrawal.
In-app Staking
Here are the requirements to be aware of.
500 PHNX Minimum: The minimum amount to stake is 500 PHNX. There is no maximum.
Early Withdrawal
PHNX Staking offers an early withdrawal option for flexibility. Early withdrawal will have a date and time assigned so you will know exactly when you can withdraw early.
We focused on high and fast rewards therefore because our staking periods are quite short, if you decide to withdraw early then your rewards will unfortunately be forfeited.
Forfeited and *Redistributed Rewards
PHNX Staking pools are like a pie. The project will place a predetermined amount PHNX into each pool prior to launch and this number will not change. If stakers leave early (early withdrawal), the pie does not shrink, they’ll just forfeit their rewards, while the proportions of the remaining stakers will increase.
Therefore, the longest stakers will earn more than just the maximum reward % and this is where the *Plus+ comes in.
In this sense, the UniFyre staking offers an element of strategy, suspense and gamification which we really liked especially because we’re looking at this as an event.
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