xVolt
Voltage DAO (deprecated) governance model
Last updated
Was this helpful?
Voltage DAO (deprecated) governance model
Last updated
Was this helpful?
xVOLT is the main staking mechanism on the Voltage Finance platform. When you stake your VOLT, you effectively exchange your VOLT for xVOLT.
VIP-1 has been approved and is now implemented! Our core team has an internal roadmap that we feel will benefit Voltage the most as we get to see under the hood daily. Our community DAO will have the final say on major decisions that affect how everyone interacts with the protocol. Ideas can be posted on forum.voltage.finance until we establish our official DAO platform. The proposal for our current staking mechanism can be found below: https://snapshot.org/#/voltagefinance.eth/proposal/0xc14edb67a154d21829423e0f984fa7e4c14657726579e7919c85646a219e16f8
Instructions for staking:
Go to the “Stake” tab on the left-hand side.
Type in how many VOLT you would like to stake.
Click stake and confirm the transaction in your wallet.
The approximate APY for your stake will be shown above.
APY formula for $VOLT staking:
The APY is dynamic and calculated based on the last 5 days of trading volume on Voltage. Recognize that you will not be rewarded a token for staking as it works with traditional farming mechanisms. 0.05% of the .3% fee that we take on each swap using our DEX is converted from the token in which the fee was collected into VOLT and then sent to the xVOLT staking pool. In order to claim or view the accrued "rewards", you would need to switch to the unstake tab and put in the max value of your xVOLT tokens to see that you indeed receive a higher amount of VOLT tokens for the xVOLT tokens when unstaked - the difference in value of the two amounts is the "reward". What happens is the ratio of xVOLT to VOLT becomes higher as each one of these "Buybacks" occur. When you unstake your xVOLT you receive more VOLT than you initially staked.
Use this example to clear any confusion:
When our staking feature went live, 1000 VOLT tokens staked would get you 1000 xVOLT representative tokens. So initially a 1:1 ratio. As long as the tokens are staked from buyback to buyback the value of your staked xVOLT increases. So in a few buybacks (given that you have staked your VOLT from buyback to buyback) the 1000 xVOLT will give you 1200 VOLT when unstaked (An arbitrary number was used to illustrate the example. Actual numbers could be higher or lower depending on variance in 24-hour volume) Our amazing dev team has created a bot to perform the necessary buybacks of VOLT to make sure the ratio for VOLT - xVOLT found on https://app.voltage.finance/#/stake will be updated automatically. The bot is activated 24 times a day. So if you do not stake for at least an hour, you will not see a gain when unstaking your xVOLT.
Note: xVolt staking will also be available via the “Farm” tab. Add your xVolt to that pool for a yield in FUSE!
Before you can unstake, if you have deposited your xVOLT into the Farm, you must first withdraw xVOLT from the Farm before you can unstake
Simply select 'Unstake'
Enter the amount you wish to unstake in the balance input and sign the transaction on your wallet.
