PIKA stakers, your time has come… you can now start claiming your staking rewards!
Reward claims will take place exclusively through PIKAHUB Rewards Portal, with stakers from both Direct and LP Staking pools able to get in on the action.
Read below to find out more!
What Stakers Need to Do
There are two primary types of claiming rights: Task-Based and Referral-Based.
In isolation, these methods can instantly unlock a percentage of total claiming rewards…however combined, they grant potential for the entirety of staked token rewards to be instantly claimed.
Additionally, any claimable rewards can be claimed as per award rights after every 30 days, irrespective of the original stake locking duration.
Task-Based Claiming
As the name suggests, Task-Based Claiming involves stakers completing one very simple task before claiming rewards.
This is to join the Pikamoon Discord channel — which upon completion, will grant instant claiming rights to a percentage of staking rewards.
The claiming rights obtained by completing activity tasks incentivise users who stake longer, as they range from 5% for 30 average locking days, to 20% for 365 average locking days.
Whilst these proportions can be claimed instantly after simply joining the Pikamoon Discord channel, the remaining rewards can be restaked in order to boost total rewards. As ever, these leftover rewards and their own corresponding rewards can then be unlocked after defined locking periods end.
And when it comes to maintaining eligibility to claiming Task-Based rewards, there are three options (i.e. ‘tasks’) for maintaining these:
- Restaking residual tokens when first claiming rewards (read on for more details).
- Completing referral-based targets, thus being rewarded 100% of the claimable rewards for activity-based participation (again, read on for more details).
- Actively play mini-games in the upcoming Pikamoon Arcade.
If none of the above activities are performed, inactive users will have their claiming rights continually halved.
Read on to learn how users can complete referral targets in order to unlock unclaimed rewards quicker…that is, if you’re not looking to instantly re-stake.
Referral-Based Claiming
Referral-Based claiming rights are an accelerated pathway for unlocking rest of your rewards.
However don’t worry… if you don’t have friends to refer into the PIKA Staking ecosystem, there are other ways on getting your hands on unclaimed tokens.
Anyhow, Referral-Based targets are created based on your average Stake Portion (Amount + Lock Duration) in the pool, as well as completing referral targets which grant the rest of claiming rights.
And whilst the formula for calculating referral targets is rather complex…
Our advice to both stakers and refered stakers is to stake as much PIKA as possible, and for as long as you can. This is because reward unlocks will depend on the amounts and the time-lengths of each respective staked amount.
For proof of this, go to our PIKA Staking Rewards estimator.
Restake Your Staking Rewards!
As previously mentioned, you can restake residual PIKA rewards that may not be instantly claimable. Here, you can essentially maximise the amount (and therefore value) of your accumulated rewards by restaking all claimed or unclaimed tokens back to the Direct Staking pool.
Within this process, restaked rewards are put under a mandatory 1 year locking period in order to provide sustainability to the PIKA Staking ecosystem. This means that after 1 year, the restaked tokens will become automatically available for unstaking, on top of the rewards reaped through compounding.
