Lithium Finance to Launch Pre-Staking Rewards Program on 5th August
--
While our official public sale at Polkastarter is approaching, we are excited to announce in advance that we will be having a pre-staking rewards program for our early LITH token holders and protocol supporters.
At a Glance
- Program begins at: 5th August 13:30 UTC
- Program ends at: One week before mainnet launch (Tentatively December)
- Estimated staking APY: 60%
- First week staking bonus: +20% (Total 80% APY!)
- Staking mode: Simple staking (stake LITH, earn LITH)
Pre-staking Details
- Staking rewards will be counted per block, and accumulated according to your proportion of staked LITH tokens over the whole staking pool.
- Total rewards to be distributed per week will be around 3,150,000 LITH, with the first week’s reward being around 4,200,000 LITH.
- Unstaking is available anytime one week before the mainnet launch, and there are no penalties for that. However, rewards accumulation will stop when you fully unstake from the platform.
- At one week before the mainnet launch, the system will migrate the stakings into the mainnet staking program. Stakers will still be able to withdraw after the mainnet launch.
- Earned rewards are subject to 6.5 month linear vesting after the mainnet launch. Therefore stakers will receive around 4% of vested reward LITH tokens every week starting from the mainnet launch.
- While the rewards will be locked and undergo vesting, they will be available for you to be used in the mainnet staking program. The Lithium team will release more details later as we move closer to the mainnet.
Useful Links and Info
LITH token address
0x188e817b02e635d482ae4d81e25dda98a97c4a42
Pre-staking platform: https://staking.lith.finance/
Staking Platform Guide
Preparations
- You must have a MetaMask wallet installed to your browser.
- Chrome/Brave browsers are recommended, Firefox could be buggy.
- Please connect your Metamask wallet to Ethereum Mainnet, where the staking platform is currently built on.
- Please use a Desktop/Laptop for now while we are still working on full mobile support.
Walkthrough
- Upon landing our pre-staking platform, you may click the “Connect Wallet” button located at the top right corner of the page to connect your Metamask wallet to the platform.
- At the platform, you will be able to see the staking statistics such as current APY and estimated rewards to all stakers per block. You can also see your current staked and available LITH token balance. Click the “Stake” button to continue.
- You may enter the amount you wish to stake, or click “Max” to stake all of your available balance.
- After signing and confirming the staking contract interaction transaction on Metamask, you will be able to see your tokens staked successfully into the pool and rewards will start accumulating.
If you have further questions on the staking system, please feel free to ask in our official Telegram.
About Lithium Finance
Lithium Finance is the first collective-intelligence pricing oracle to give precise and timely pricing on private, illiquid assets. It rewards analysts who provide truthful information and punish those who offer false pricing data. As a result, Lithium’s users obtain pricing for all hard-to-value assets such as pre-IPO stocks, private equity, and other illiquid assets effectively.
