IT’S THE TREE OF LIFE!

XGEM LP Staking

Ask and you shall receive! Many of you have been asking about token staking on Ethlas, and we’re proud to announce that it’s finally here, and in a gamified manner to boot (what did you expect, we’re a gaming platform!)

The Tree of Life is a gamification of the incentivised Liquidity Pool staking program by Ethlas. It will be made available for the XGEM-MATIC pair initially but will slowly expand to other token pairs. (Edit: In light of market conditions and volatility, Ethlas will not be committing to a hard emissions curve but below is meant to provide guidance of how emissions will look like.)

What’s an LP token? How do I get my hands on it?

Step 1: Transfer MATIC to your Metamask Wallet on the Polygon network

Step 2: Head down to Quickswap and swap half of that MATIC to XGEM

Step 3: Pair your MATIC tokens with XGEM tokens here to receive XGEM-MATIC LP tokens

XGEM: 0x02649C1Ff4296038De4b9bA8F491b42b940A8252

XGEM-MATIC LP: 0xbFB1580eB61c9a7a00EEbFb8aeC867a65E100a3e

Watch this video for step by step visuals on staking!

Issuance Schedule for the Tree of Life

The XGEM staking program is scheduled to last for 3 years, with the GEM issuance scheduled to change during each month (which we assume to be every 30 days), and begins at 23:59 GMT+8 on 30 April 2022.

Visit our whitepaper to view the full issuance schedule: https://whitepaper.ethlas.com/section-4-tokenomics/tree-of-life-staking

Edit: Release time has been amended from 19:00 GMT+8 to 23:59 GMT+8 on 30 April 2022.

XGEM Staking and Allocations

The Tree of Life will open with a XGEM-MATIC based staking, but as the Tree of Life grows and matures over the following weeks, new incentivized pairs will be added and allocations will be adjusted to reward a wider variety of liquidity providers.

Locking

A portion of the GEM emissions will be issued as locked rewards. The locking ratio is 97% for the first year, 90% for the second year, and 80% for the third year.

Locked rewards are subject to a fixed vesting schedule of 2% per month, meaning the locked rewards will be subject to a total vesting period of 50 months from the time of issuance. Unlocked rewards will be disbursed every 12 hours and will be claimable by users.

Sensitivity Analysis of Returns vs Liquidity Pool Size

The incentivised staking emissions would start off high, but users should expect a tapering off of the APRs as more users participate in staking and rewards are distributed among a larger base of stakers. Although APR is high, the staking program is designed in a way where the liquid rewards being released into the system happens in a controlled manner.

Tree of Life Deposit and Withdrawal Fees

There are no deposit fees for staking LP tokens in the Tree of Life. To safeguard the stability of the Liquidity Pools, we’ve implemented withdrawal fees for withdrawing staked LP tokens within certain timeframes. Each withdrawal of the user’s LP tokens resets the penalty timer, so make sure to plan your withdrawals wisely. The withdrawal fees are listed below:

Seed of Life

Legend has it that when you make an offering to the Tree of Life, the Gods may bless you with a mystical seed with unforetold powers…

The Seed of Life program is a way to further reward users who participate in the Tree of Life incentivized LP staking program. On top of GEM rewards emissions distributed by the Tree of Life, users who stake more than 1000 XGEM-MATIC LP tokens (worth around $220 at the time of writing) will receive a seed, which can be planted by the Magic Elf Lady.

Visit Magic Elf Lady here!

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