💥 GLIZE staking — how will it work?
☝️ The GLIZE staking will start about a month after the migration starts. To recap briefly: migration is the process of migrating from UMI staking to GLIZE. In simple words, it is a direct exchange of UMI coins for GLIZE tokens. And about a month after the migration starts, when the first participants will already be fully rewarded with additional bonuses and early bird bonuses, the staking option will open.
And as soon as total members of ROY Club will add at least 50 000 000 GLIZE to the staking, the process of multiplying coins itself will start.
💡 Let’s break it down. It will happen as follows:
1️⃣ Migration starts and participants start exchanging UMI for GLIZE.
2️⃣ About a month later, the possibility of staking opens — each participant has personal addresses for GLIZE staking in Personal Account and wallet.
3️⃣ Participants start sending their GLIZE to the staking addresses.
4️⃣ As soon as participants send 50 000 000 GLIZE in total to the staking, the coin multiplication process itself will begin. We estimate that this will happen in the first few days after the staking addresses open.
That’ s it. From this moment, the staking will start and you will be rewarded for participating in the ROY Club, the GLIZE staking pool.
☝️Important: GLIZE tokens will be stored on personal addresses in the same way as UMI. Despite the participation of the tokens in the pool, your tokens will not be accessed by anyone but you. Not even the ROY Club.
Now let’s run through the phases of the staking, because the percentages will depend on them. The percentages will also depend on the total amount of GLIZE in the pool. Let us first analyze the phases.
There are only three phases of staking:
🔴 Red staking phase: lasts until a total of 250,000,000 GLIZE are created;
🔵 Blue staking phase: until a total of 500,000,000 GLIZE are created;
🟢 Green staking phase: until a total of 1,000,000,000 GLIZE are created.
In other words, once there are 50 000 000 GLIZE in the pool, the Red staking phase will begin. Once the total supply of GLIZE (not in the staking pool, but all existing tokens in general) reaches 250,000,000 GLIZE, the Blue staking phase will begin. And after 500 000 000 GLIZE, the Green staking phase will begin. Once 1 000 000 000 GLIZE is reached, the staking will stop completely.
We estimate that each staking phase will last approximately 1 year.
Why are these staking phases necessary?
With each new phase, the percentage of the staking will go down. We have taken into account UMI’s too high emission rate and the drop in the coin’s exchange rate, so we have intentionally made sure that GLIZE’s emission rate decreases over time. And eventually, so that the staking would stop altogether and not create an oversupply of tokens in the market.
What is the reward for staking?
The reward for staking depends not only on the staking phase, but also on the total number of GLIZE tokens in the pool.
Here is the table for the Red staking phase:
For example, if there are 160 000 000 GLIZE in the pool during the Red staking phase, users will receive 25% new tokens per month.
Table for the Blue staking phase:
For example, if there are 410 000 000 GLIZE in the pool at the Blue staking phase, users will receive 15% of new tokens per month.
Table for the Green staking phase:
For example, if there are 710 000 000 tokens in the pool during the Green staking phase, participants will receive 8% of new tokens per month.
Once the total GLIZE supply of 1 000 000 000 tokens is reached, the staking will be stopped.
So what next? Will GLIZE lose its value? 😱
No! We estimate that GLIZE staking will stop in about 3 years. During that time, the UMI OneApp ecosystem will have already developed and our token will be tightly integrated into it. It will act as a native NFT marketplace token, will be added to liquidity pools and used in many other products of the UMI DeFi-ecosystem. In other words, there will be many new tools to make money with the token.
This is exactly our goal. Initially GLIZE will be a profitable staking token as an alternative to UMI staking. And all early users will be able to get a substantial reward for staking. And subsequently GLIZE will be redirected to a token for UMI OneApp’s DeFi ecosystem, where it will be of high value without staking.
So we recommend that if you vote FOR stopping UMI staking, you migrate to GLIZE as soon as possible in order to get as much rewards as possible.