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28.12.22

Energy Staking Explainer

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Energy Staking Explainer

At the ix.foundation, users can burn energy every epoch to receive rewards from the Energy Staking pool. The amount of energy you can burn is determined by the amount of IXT you have deposited, and all rewards in the pool come from the energy that has been deposited and burned. 

Currently, users are not required to stake energy every month to continue receiving rewards. Instead, when you stake once, you receive rewards indefinitely. However, as of January 4th 2023, the system will change so that all energy within the contract is "expired" at the start of each new epoch. 

This means that a user's stake in one epoch will not carry over to the following epoch, and you will have to burn more energy in order to continue receiving rewards on a monthly basis. 

To make this change fair to users who have already staked in the December epoch, the contract will continue to function as it currently does (not charging energy on a recurring basis) and allow you to also receive rewards for the entire month of January without burning additional energy. 
Please note that the original formula used to calculate how many tokens would be released has changed since the first whitepaper was written and published. This essentially means that once 100,000 facilities are minted, the total release of this staking pool will be 100%. A graph to better illustrate this is presented at ix.foundation. The whitepaper will also be updated shortly.

Additionally, new staking will be paused for the January epoch, which will require a minor contract upgrade. So make sure to stake your energy before January 3rd 2023 14:00 PM UTC, or wait until the new epoch begins in February 2023.

Read more about energy staking here.