🔓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.

Re-Locking

Re-Lock at any time to a longer period to receive an instant boost in Cosmic Essence, as well as a higher $ECLIP reward. The already passed locked time carries forward, the Re-Lock will not start from the beginning.

Merge Positions

Merge your locked positions in the same period to clean up your wallet and streamline your positions. Merging will combine your locked $ECLIP, Cosmic Essence & Rewards. Merging will create a new countdown with the weighted average of merged positions.

I.e. merge 2 x 1 month locked positions: 1) 100 $ECLIP with 10 days remaining on the countdown 2) 50 $ECLIP with 5 days remaining on the countdown = 150 $ECLIP with 8.75 days remaining on the countdown

One of the benefits of Merging is that it also takes into consideration the time that has elapsed after the lock period has ended, meaning you can merge a locked position that has already ended and use the time since the countdown has ended as a credit in the new merged position.

I.e. merge 2 x 1 month locked positions: 1) 100 $ECLIP with 10 days remaining on the countdown 2) 100 $ECLIP with -10 days remaining on the countdown (this lock timer ended 10 days in the past but the position was kept open and not Re-Locked or Withdrawn) = 200 $ECLIP with 0 days remaining on the countdown (user can withdraw the new merged position without penalties)

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	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.