On March 3 2022 Efforce launched the first staking program. After some of our users asked us why rewards were different from what they would have expected we paused the staking to run some further checks over our algorithms finding that everything is working as expected. So we are enabling the stake button again.
We think some clarifications need to be made in order for our users to understand how this particular staking works, since there is no fixed APR.
How to participate to Efforce staking
To participate to Efforce staking you need to have a Metamask account with at least 100,00 WOZX token of balance plus some ETH required for the transactions on Ethereum chain. The only way to participate in the pools is to stake tokens using our DAPP on our official website. Each pool has a separate balance. You can contribute to all the pools at the same time if you wish.
If you have tokens on exchanges you need to withdraw them to be able to stake. In case your exchange won’t let you withdraw your tokens due to its regulations or restrictions we are sorry but you won’t be able to participate in the staking program. We always recommend to keep your tokens off exchanges if you are holding them long term.
How we calculate your rewards, a practical example
To calculate rewards we use an algorithm that takes into consideration the time which your token spent locked in the pool and the ratio of your participation in the pool given the total amount of tokens staked.
This means that APR and rewards will change the more tokens are staked in the pool till the point where users will think it’s not convenient enough to join the pools. We can’t predict what the real APR will be at the end of the staking program, we can just give you an estimate based on the current participation.
Genesis pool participants update
On May 31 we will update our users who participated to the Genesis pool on how to claim their rewards for the first year of participation.
We look forward to give you more exciting news.
