🥩Staking
Last updated
Last updated
$NX is the core token within the NX Finance ecosystem, offering a variety of rewards and benefits to stakers. Staking NX allows users to tap into fee-sharing mechanisms, gain transaction fee discounts, maximize airdrop rewards, and actively participate in governance. This document outlines the staking process, benefits, and revenue-sharing model to help users understand the value of staking NX.
Staking NX opens up multiple streams of benefits for users, including revenue sharing, discounted fees, governance voting rights, and boosts in future airdrops. By staking, you not only earn rewards from NX Finance’s growth but also take an active role in shaping the platform’s future.
Key Benefits of Staking:
Revenue Sharing: Gain a share of referral bonuses, strategy performance fees, and platform earnings
Airdrop Boosts: Maximize your rewards in future NX airdrops
Governance Participation: Vote on important proposals, strategies, and decisions
sNX is the status that represents your staked $NX and is used to claim revenue share from the contract. sNX will not show up in your wallet as it is recorded within the contract only. It is also non-transferrable, meaning you cannot move or trade sNX on any external platforms. This status simply tracks your staked position and rewards within the NX Finance ecosystem.
sNX exists in two states: staked and available_stake. Here’s how it works:
Staked State: sNX in the staked state participates in revenue sharing. This means the more staked sNX you hold, the more rewards you can earn from the platform’s performance.
Available State: sNX in the available state does not participate in revenue sharing. To convert your available sNX to the staked state and start earning rewards, you need to click the [restake button] to move it into the staked state.
When you stake 1 NX, you receive 1 staked sNX. Over time, you will also linearly earn additional sNX in the available state. This additional sNX grows at a rate of 1x your staked NX after one year, and the growth stops at that point (the maximum total sNX you can earn is 2 sNX).
To start earning on the available sNX, you need to manually convert it into the staked state by clicking the [restake button]. Only sNX in the staked state is eligible for revenue share.
Staked NX: Number of NX tokens you've staked
Staked sNX: Number of sNX you've staked, which staking rewards & voting power depend on this number
Available Restake sNX: The extra sNX you get when you stake NX for over a year, and you need to press the "restake" button to retsake the extra sNX you receive
Unclaimed Reward: The unclaimed revenue share
When you unstake your NX, sNX is destroyed proportionally. The system will first reduce your sNX from the available state before affecting your staked sNX. NX Finance redistributes platform fees to sNX stakers. The more sNX you hold, the larger your share of the fees.
Important: The second unstaking operation can only be initiated after the first one is completed and withdrawn; there cannot be two simultaneous unstaking records.
To unstake NX, you must initiate a withdrawal request. Once you initiate this request, your sNX balance will immediately reduce based on the amount of NX you are unstaking.
There is a 14-day waiting period before your NX becomes available for withdrawal. The unstaked portion will be invalid and unable to claim revenue share immediately.
If you staked 100 NX and have accumulated 200 sNX after 1 year, and you decide to unstake 50 NX. After the 14-day waiting period, you will be able to withdraw 50 NX.
On the day you initiate the unstake, your sNX balance will immediately reduce from 200 to 100, reflecting the decrease in your staked amount. It also represents the revenue share/voting power got halved immediately.
NX Finance redistributes a portion of the platform’s revenue to NX stakers. This includes performance fees from core strategies like Fulcrum and Gold Mining.
The platform will allocate collected fees into a dedicated pool, from which 30-50% will be distributed as rewards to NX stakers every two weeks. The exact percentage will be adjusted weekly by the team, based on market performance. The 30-50% variation enables us to adjust distributions based on market conditions, ensuring NX holders receive a stable and sustainable revenue share. Rewards are released linearly over a two-week period, with each user’s share determined by their proportion of sNX holdings.
https://solscan.io/account/EBX8D2YkyqU2xZYj2x9HqYify5ZXX4t7qgzkxfDe3puw
https://solscan.io/account/GhJgwXPsD2RKx9MpntrffQJsj4BwA7j54eWApFXS6Fzg
Staking NX offers a boost to all future NX airdrops. This benefit is exclusively available to NX stakers, rewarding those who support the long-term vision of the platform.
Staking NX gives you the power to participate in governance decisions, including voting on protocol upgrades, strategy changes, and other key proposals that impact the future of NX Finance. The more NX you stake, the more voting power you have, enabling you to shape the platform’s direction and growth.
The NX Governance will be conducted on Governance page, where decisions about the future of NX Finance are made by the community. To participate in governance, you will use sNX, which serves as your voting tickets.
Snapshot will be taken before proposal is delivered. The voting power will correspond to the number of sNX users hold. The more sNX you hold, the more influence you have in the decision-making process. Your voting power is calculated based on the following formula:
