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Staking Policy

(1) Staking policy

Staking participants can join in staking according to the policy below.
  • MESH staking is neither an act of entrusting nor entrusting MESH to another person. It is to lock up users' MESH asset by signing so that the MESH is not remitted or traded according to the consented terms agreed by the user themselves (staking period, etc.). Therefore, it is impossible to cancel, withdraw, or change the withdrawal wallet that violates these terms.
  • It is not possible to cancel staking before the end of the contractual staking period.
  • Each staking contract is not separable from one another, rather, the total amount of MESH staked will be tied up based on the date of the last staking contract. It requires completing the approval procedure for your first staking contract (1st time only).
  • Voting rights (vMESH) can be obtained at the beginning of every staking cycle depending on the MESH quantity and contracted period (4/8/12/12+a months).
  • Voting rights issued after MESH staking are based on the following.
  • 4 months, 8 months, 12 months, and 12+α months staking give more votes corresponding to 1x, 2x, 4x, and 8x coefficients respectively. If the selected period of additional staking is shorter than the previously selected staking period, each case will be applied to a different rate.
    Ex 1) If you stake 100 MESH for 4 months first and stake an additional 100 MESH for 12 months sequentially, a total of 800 vMESH is obtained by applying 4 times the 200 MESH.
    Ex 2) If you stake 100 MESH for 12 months first and stake an additional 100 MESH for 4 months sequentially, a total of 500 vMESH is obtained by applying different multiple rates. (the first 12 months staking will get 400 vMESH while another 4 months staking will get 100 vMESH each.)
  • Staking rewards are distributed proportionally according to the user’s share(%) of vMESH compared to the total vMESH. (i.e., Staking share = your vMESH/ the total number of vMESH).
  • If users stake MESH with an efficiency of less than 4x, you could increase the staking efficiency to 8x and obtain more vMESH through the [maximize efficiency] button. The 8x efficiency will continue to proceed with vMESH staking without a fixed end date until it is changed to 4x.
  • If you are in the process of 8x staking, you can lower the staking efficiency to 4x by clicking the [lower to 4x] button, and you can unstake after 12 months from that point.
  • If the staking efficiency is changed from 8x to 4x, due to the change in the amount of votes obtained, the pool votes in which users participated and the withdrawal of voting rights allocated to Ecopot will be prioritized. According to the pool voting policy, however, the staking efficiency can be changed to 4x when possible to withdraw if there is a limit to the time to withdraw their voting rights at 9 a.m. (UTC+9) every day.
  • Transaction execution may be impossible due to computational costs if the user is voting for multiple pools or participating in multiple Ecopots at the time of efficiency change. In this case, the user can directly change efficiency to 4x after withdrawing the voting rights allocated by the pool voting and Ecopot pool.
  • The date and time of staking termination vary depending on the time of additional staking and the selected staking period, and unstaking (withdrawal) is possible after the staking end date. Case 1) Existing Contract expiration date and time < Current time + New contract period (4/8/12 months) → Current time + new contract period date and time is the end date.
    Case 2) Existing contract end date and time > Current time + New contract period (4/8/12 months) → Existing contract expiration date and time is the final expiration date.
  • Distributed MESH rewards can be freely claimed and received in wallets.
  • If the existing MESH balance changes due to additional MESH staking/unstaking, any accumulated MESH rewards will be automatically claimed and sent to your wallet.

(2) Termination of Staking contract

  • In the case of staking with 8x efficiency, the staking continues without a fixed unstacking period.
  • In the case of 4x or less staking efficiency, you can check the pop-up window for unstaking information 30 days before the end of the staking contract, and you can extend the contract or withdraw the staked funds for 30 days from the end of the staking contract.
  • If you unstake MESH while participating in the pool voting, the votes will be automatically withdrawn due to the return of the voting right. The amount of allocated trading fee rewards will be automatically claimed and sent to the user's wallet.
  • The records of voting rights and voting history will be maintained after the termination of staking.
  • If unstaking is not conducted within the 30-day waiting period, the new staking contract will automatically proceed based on the longest period of the previous contract (4/8/12 months) and the corresponding voting right (vMESH) will be given to the user. If the user lowers the staking efficiency to 4x during 8x staking, the user is able to unstake (withdrawal) after 12 months of lock-up from the day you change the efficiency rate. However, automatically re-contracted staking cannot be canceled.
  • If additional MESH staking is carried out within the 30 days before the staking termination period, the additional staked quantity + existing staked quantity will be deemed to have been renewed from that date.
  • The number of obtained vMESH will not be reduced by the pool voting.
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