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accTOKE

Introduction

The locking of TOKE as accTOKE gives users the ability to participate in the weekly accTOKE Cycle rewards. Rewards accrued by the Tokemak POA deployments are claimable in wETH by accTOKE lockers. Demonstrations on how to lock TOKE as accTOKE can be found here.

accTOKE Locked Staking

The system allows for TOKE to be staked as accTOKE for either 2, 3 or 4 weekly Cycles. Users will be able to either:
  • Migrate TOKE that was already staked in the system to direct liquidity
  • Or directly access accTOKE with TOKE that is not yet staked on the platform
Please note that participation in accTOKE locked staking will not allow for directing liquidity.

Adding to your accTOKE position

The lock period chosen initially will be the minimum locking period applying to any subsequent TOKE locked as accTOKE. The unlock of the latest TOKE then applying to the total accTOKE balance of the user. Example:
  • Cycle 1: Locked 50 TOKE as accTOKE for 3 cycles.
    • Unlock of 50 TOKE at Cycle 4
  • Cycle 2: Locking of additional 50 TOKE for 3 cycles (minimum)
    • Unlock of 100 TOKE at Cycle 5
After accTOKE is successfully requested for withdrawal, a user can lock additional TOKE without affecting the requested amount. However, the subsequent deposit is still bound to the minimum lock period.

Reward Mechanics

Users who have chosen to stake their TOKE as locked accTOKE will receive rewards in wETH (wrapped ETH) – upon claiming the rewards the user has the option to unwrap to ETH. Unwrapping to ETH when claiming rewards will require an additional transaction. The rewards can be claimed at the end of each weekly Cycle, not solely at the end of their lock time.
The rewards are distributed to accTOKE stakers according to the following logic:
In a first step, the accTOKE power is calculated for the individual user:
User acc power = accTOKE Qty × number of cycles lockedUser\ acc\ power\ =\ accTOKE\ Qty\ \times \ number\ of\ cycles\ locked
The accTOKE power of the user is now used to calculate their rewards:
Usera wETH Rewards = POA rewards in wETHusers acc power ×Usera acc powerUser_{a\ }wETH\ Rewards\ =\ \frac{POA\ rewards\ in\ wETH}{\sum users\ acc\ power} \ \times User_{a}\ acc\ power
accTOKE rewards are variable and will fluctuate based on many factors, including quantity of TOKE locked, deployed POA, POA rewards and the users chosen lock duration.

Unlocking accTOKE

Users can request to unlock during the last Cycle of their chosen lock period and then withdraw at any time after the lock expires.
Please note that accTOKE and the "regular" TOKE staking are two separate contracts. It is possible to seamlessly lock staked TOKE by using the "Migrate" button. If a user choses to stake their TOKE as an LD after requesting withdrawal from accTOKE, it requires withdrawal back into their wallet and re-staking.

accTOKE Emissions

It’s important to remember that not all POA rewards go to accTOKE lockers, some rewards will still accrue back to Tokemak’s POA. The planned schedule for accTOKE rewards from POA deployments is as follows:
  • Cycle 241: 20% of POA rewards
  • Cycle 242: 25% of POA rewards
  • Cycle 243: 30% of POA rewards
  • Cycle 244: 35% of POA rewards
  • Cycle 245: 40% of POA rewards
  • Cycle 246: 45% of POA rewards
  • Cycle 247: 50% of POA rewards
After the above terminal rate reaches 50%, it is possible for the rate to increase or decrease, depending on a number of factors, including eventual governance. If the rate is to be modified, we will provide as much notice as possible given the circumstances which lead to the change to ensure that accTOKE lockers can make an informed decision to either continue locking or withdraw.

accTOKE Caps Schedule

The capped amount of TOKE that can be deposited into the accTOKE mechanism will follow this schedule:
  • Cycle 241: 1,000,000 TOKE
  • Cycle 242: 2,000,000 TOKE
  • Cycle 243: 3,000,000 TOKE
  • Cycle 244: 4,000,000 TOKE
  • Cycle 245: 5,000,000 TOKE
  • Cycle 246: 6,000,000 TOKE
  • Cycle 247: Cap is lifted
Once Cycle 246 concludes, the cap on accTOKE will be removed.