Each address can earn up to 1 Flashtronaut.
- 8 NFTs are available to be won as prizes in this round
- Claims submissions are only valid from December 1st 12AM UTC to Dec 31st 11:59pm UTC, and you must have enough points earned on the scoreboard to be eligible to claim.
- Claims can be made at from the official Flashtronaut Claims Form.
- All stakes that have ever been staked in any official strategy will be eligible to earn points for the scoreboard for Round 1
- “Official Strategies” are any stake that has earned yield (burned fTokens) from any choice given by default on the app.flashstake.io dapp dropdown choices. You can learn more about these in the documentation.
The more you stake, the longer you stake, the more points you get.
Points are calculated as the sum of the USD value of all fTokens you have burned from all of your flashstakes. These points represent the [(USD value) x (years)] of staking. It’s a race to see who can get the most value staked for the longest!
From a technical level, the points are exactly calculated based on the total fTokens you have burned and their respective Token’s value at the time of burning them.
Side note: “Flashstaking” is a shortcut way to say a “Stake” + “Burn” has happened. It is the “Burn” of the fTokens that lets a user get the yield from a stake. In the Dapp you will see 3 choices: Flashstake, Stake, and Burn.
Here is an example of how points are calculated:
- You Flashstake 10,000 USDC for 2 years (730 days)
- This mints (10,000 x 730/365) = 20,000 fUSDC.
- Flashstaking instantly burns 80% of that = 16,000 fUSDC. The other 20% (4,000 fUSDC) are taken as a fee by the Flashstake Protocol.
- By burning the fUSDC, you would get the upfront yield of some amount of USDC based on current market conditions, yield pool values, and any incentives.
- Because 1 USDC at the time of burning = $1 USD, then 1 fUSDC value burned is tracked as $1. So: by burning 16,000 fUSDC, you earned (16000 x $1 = $16,000) 16,000 points.
Another example but with ETH:
- You Flashstake 3 ETH for 6 months (180 days)
- This mints (3 x 180/365) = 1.48 fETH.
- Flashstaking instantly burns 80% of that = 1.184 fETH. The other 20% (0.296 fETH) are taken as a fee by the Flashstake Protocol.
- By burning the fETH, you would get the upfront yield of some amount of ETH based on current market conditions, yield pool values, and any incentives.
- Because 1 ETH at the time of burning = $1,500 USD, then 1 fETH value burned is tracked as $1,500. So: by burning 1.184 fETH, you earned (1.184x $1500 = $1,776) 1,776 points.
Future, future, future…
Although nothing is finalized yet, we want to give these NFTs future utility, bonuses, or perks.
Right now we are focusing on improving the Flashstake protocol.