Good day, dear ArtWallet Community.
We’re all excited, but before talking about 1ART Vaults, we need to mention the incredible efforts we have taken to get to this point. So many questions about Farming Multipliers were raised. We have kept the intrigue till that moment. Now we are ready to introduce the new ArtWallet incentive and earn program — 1ART Staking Vaults!
How do Staking Vaults work?
A staking vault is a smart-contract created for a defined period, where you can lock your 1ART tokens and receive fixed APY during the whole period of staking. The distinctive feature of staking vault is that you cannot withdraw 1ART tokens till the end of the staking period. But we have enabled the withdrawal of rewards any time on demand!
Compared to flexible farming, staking vaults are limited in the number of tokens that can be locked (Limited pool size). If the vault is full, you will not be able to stake tokens. So, first come first serve.
The main advantage of staking vault is APR. It is always fixed and higher than the flexible staking APR.
Let’s look at the difference between 1ART staking vaults and flexible farming
Introducing First 1ART Staking vaults
Now we are happy to introduce the conditions of the first 1ART Staking Vaults.
The first Staking Program will include 6 staking vaults: 3 on Binance Smart Chain and 3 on Fantom. Staking Vaults will be available for 3, 6, and 12 month periods with 30–50–70% fixed APY respectively. The Vaults will be launched on December 25, 02:30 PM UTC. Don’t miss this date. All Vaults will be limited in pool size. Only 500,000 1ART tokens will be available for staking on each vault.
Why December 25, 2:30 PM UTC ?
On December 25, 2:30 pm UTC the LAST IDO unlock will take place! All IDO tokens from NFTb and ScaleSwap IDO platforms were vested for 3 months. And now we can officially say that on December 25 it will be over.
In order to avoid the situation similar to the one that happened on November 25 we are giving ScaleSwap Participants an one hour room to lock their tokens in the vaults, since the vaults are limited in size.
On December 25, from 2:30 pm UTC till 3:30 pm, only ScaleSwap participants will be able to participate in the Vaults on Fantom. The addresses will be waitlisted. Please use the same addresses that you used when participating in IDO.
BSC Staking Vaults will be available for everyone from 2:30 pm UTC, December 25.
FTM Staking Vaults will be available for everyone from 3:30 pm UTC, December 25.
Where to stake: Vaults will become available on https://artwallet.co/staking at 2:30 pm UTC, December 25.
What to do if the staking vaults are full?
You can always participate in Flexible Farming.
Flexible Farming Multipliers
No less important, Farming Multipliers and how they work. So many questions were raised about the Multiplier, so now it’s a high time to explain. Many people falsely believe that when the staked amount reaches 1, 2, or 20 million 1ART tokens multipliers will double. This is not how the multipliers work. In our previous article, we have described the reward pool depending on multipliers. So 1x multiplier means 1,000,000 1ART reward pool, 20x Multiplier means 20,000,000 annual reward pool.
Main rules and rewards of the Flexible Farming Multipliers:
Currency: 1ART token
Network: Binance Smart Chain & Fantom Chain
Reward Pool: from 1,000,000 to 10,000,000 1ART tokens Annually on each chain.
(up to 10,000,000 1ART on BSC and up to 10,000,000 1ART on Fantom).
Multipliers have been introduced in order to keep the APR on flexible farming a bit lower than the APR on Staking Vaults since Flexible Farming is more investment-friendly. Under flexible farming, you can withdraw or deposit 1ART tokens any time, while in Staking Vaults tokens are locked for a defined period.
Multipliers have been introduced in order to increase the APR when the amount of staked tokens increases. If the staked amount on any chain hits 10,000,000 1ART tokens, the multiplier will double and APR will increase. 1ART flexible farming APR will not be lower than 10%. At the same time, Staking vaults may give you up to 70% fixed APR.
The main goal of flexible farming is to make your 1ART tokens work while giving you access to the liquidity any time on demand.
The goal of the staking Vaults is to give you higher APR while locking the 1ART tokens out of the market.
Introducing 1ART Earn
1ART Staking Vaults and Flexible Farming are the only beginnings of the 1ART Earn Program. Stay tuned, we are going to introduce to you to even more attractive Opportunities. So, many exciting announcements are coming. December 25 is the great day when all IDO unlocks will be done and only true believers will stay with 1ART. December 25 is the newborn of ArtWallet and 1ART.