ECLIPSE FI
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Staking

As mentioned in the ECLIP Token section, in order to effectively interact with our platform - users must stake or lock $ECLIP tokens, which will be enabled through our platform.

Staking

Staking provides a streamlined process for users to engage in staking to gain access to ecosystem features, enabling a simple Stake and Un-Stake transfer directly from a user's wallet. There is no minimum staking period, Un-Stake any time with no penalties - you will only lose the Cosmic Essence you have earned while staking.
I.e. if a user stakes 100 $ECLIP then an additional 1,000 ECLIP, their total staked position becomes 1,100 as they earn Cosmic Essence each second.
Refer to the table below demonstrating the example of how each user's Cosmic Essence is progressively increased over the period of 12 months.
Please note that upon reaching max level (1:1 with the staked amount of tokens), Cosmic Essence cannot increase any further.
Days
Tokens staked
Cosmic Essence
30
1,000
82
60
1,000
164
90
1,000
247
120
1,000
329
150
1,000
411
180
1,000
493
210
1,000
575
240
1,000
658
270
1,000
740
300
1,000
822
330
1,000
904
365
1,000
1,000

Un-Staking

Users can stake additional $ECLIP at any time which will increase their Essence accumulation per second. Partial Un-Staking is not supported, Un-Staking will return 100% of your staked $ECLIP to your wallet and remove all accumulated Essence for their staked position only. This will not affect any Locked positions.

Locking

Locking allows users to earn future Essence upfront immediately to progress through tiers to as well as earn $ECLIP rewards per second. Locking options are 1, 3, 6, 9, or 12 months. Users can still Un-Lock early with an exit fee sent to the Eclipse Community DAO.
Similar to staking, users can Lock again in the same or other durations. In the future, users will be able to increase the lockup duration to a longer one to earn more Essence upfront and earn $ECLIP rewards of that timeframe.
For more details on $ECLIP rewards distribution, please refer here Reward Distribution.

Harvesting ECLIP Rewards

There is a counter for accumulated $ECLIP rewards for each locked position, updated every second.
A single Harvest button displaying the total reward balance for all locked positions will harvest all earned $ECLIP rewards to the users wallet when executed.
$ECLIP can be harvested every 3 seconds.

Un-Locking

Users who wish to Un-Lock their $ECLIP (similar to Un-Staking) must unlock 100%. Furthermore, an early exit fee of 70% of the $ECLIP in the remaining Lock period will be deducted and sent to the Eclipse Community DAO. This penalty decreases gradually in proportion to the number of days remaining in the lockup period selected when locking. The early exit fee is calculated using the following equation which is provided to the user before Un-Locking:
Penalty = 70% of the percentage of locking period remaining
Penalties are added to the Eclipse Fi incentivisation budget and eventually redistributed among other stakers.
Please refer to the following table summarising how users can interact with the staking and locking, as well as the results of these interactions
Operation
Possibility
Note
Stake more
Possible
Staking position is calculated as a total of all individual positions.
Partial Un-Stake
Not possible
Not possible due to potential abuse. Staking cannot be subject to gradual decrease. Therefore all $ECLIP tokens are Un-Staked.
Lock more
Possible
A new lock position will be created
Lock longer (Re-Lock)
Possible (in the future)
Lockup time which has already elapsed is accounted for in the new lockup duration (e.g. Re-Lock from 3 to 6 months on the last day of the lockup period will add 3 more months, instead of 6)
Partial unlock
Not possible
Similar to partial Un-Stake, this feature is not possible due to potential abuse.
Un-Stake 100%
Possible
Possible at any time, resets Essence earned from staking to 0. Does not affect any locked positions.
Un-Lock 100%
Possible
Possible to Un-Lock all locked positions at once at any time, at the cost of early exit fee. Will reset Essence from all locked positions. Does not affect staked position.
Stake and lock at the same time independently
Possible
Cosmic essence from staked tokens and all locked position are summed to calculate user’s Cosmic Essence.