Calculating Share of Rewards
The competitive locking of gFLY and LP tokens will work in a similar fashion to the Mining Power mechanic used by Harvesters. There is a daily pool of MAGIC, and each user who has locked some amount of gFLY and or LP tokens will have a “Mining Power”, which determines their share of the daily MAGIC pool of emissions. The formulas are as follows:
Where Mining Power is determined by the formula:
These boosts are defined as:
Where:
- Lm = a user’s staked MAGIC
- Lg = a user’s staked gFLY
- Tg = the days until unlock of gFLY
- Lp = a user’s staked LP tokens
- Tp = the days until unlock of LP tokens
- F1 = a user’s staked v1 Founders NFTs
- Fm1 = 0.25 = the v1 Founders NFT multiplier
- F2 = a user’s staked v2 Founders NFTs
- Fm2 = 0.15 = the v2 Founders NFT multiplier
- Mp= 0.55 = LP multiplier
- Mm= .01 = MAGIC divisor
Both gFLY and LP tokens can be locked for a maximum of 365 days, with lock periods able to be continuously extended out to refresh the maximum lock period. I.e. 10 days into a 365 day lock, a user can extend the lock back out an additional 10 days from the current unlock date. This allows users to maintain the maximum lock multiplier within the Flywheel Mining Power calculation.
Last modified 2mo ago