Staking APY Approached 7639% on aelf Mainnet
The founding nodes on aelf mainnet have successfully completed an initial renewal after mainnet swap at 3:00 P.M. on September 16th. The highest weekly return rate approached 146.91%, which is 7639% APY.
Based on the rules of the aelf economic system, if you staked 10,000 mainnet ELF tokens in the first voting phase, the voting income in that week is as follows:
In the first voting phase, aelf received 39,5299 tickets on the first day; and by the end of the voting phase, the aelf founding nodes received a total of 139 votes, with 134,5335 tickets. Voters are now able to claim their voting rewards. It is worth mentioning that the voting will continue. Stake to vote at any time.
Stake to Vote Mechanism
The aelf team designed a bonus mechanism to encourage nodes to participate in the aelf ecosystem: During the AEDPoS consensus operation of the aelf main chain, there is a weekly transition behavior. At the end of each session, the aelf mainnet consensus contract will generate a dividend of N * 0.125 ELF based on the actual number N of blocks produced in the current session. The dividends will be injected into the following main chain bonus pool proportionally as a node incentive.
The voters’ income comes from Citizen Welfare, which scales 75% of the main chain Dividend Pool.
Vote to Accrue 7639% AYP
Starting September 9th, mainnet ELF token holders can log into the Governance page to vote for the current initial node.
1 ELF token represents 1 ticket. Voters can choose the lock-up periods among 3 months, 6 months, 12 months, 24 months, and the longest is 36 months. The profit distribution will be calculated according to the number of votes and the lock-up time. The longer you lock, the higher the return rate it will be.
Claim your Citizen Welfare/Voting Income
After a voting phase ends, the voting income could be collected. In other words, users can collect their Citizen Welfare every 7 days.
The voting affects the result of the next election. In other words, users need to vote before 3:00 P.M. Thursday to accrue their first round of voting income on 3:00 P.M. next Thursday. The Citizen Welfare could be claimed every Thursday until the agreed unlocking date.
Take the first voting phase as an example:
If a user participates in the voting before 3:00 P.M. on September 9th, s/he will receive the first dividend income based on the weight of the vote after the end of the node change at 3:00 P.M. on September 16th.
If a user participates in the vote between 3:00 P.M. September 9th and 2:59 P.M. September 16th, the user will receive the first phase of dividends based on the weight of the vote after the end of the node change at 3:00 P.M. on September 23rd.
The Citizen Welfare could be claimed every week.
In line with our road map, aelf will subsequently hold the node elections with the stabilized mainnet economic system. By then, aelf encourages users from all over the world to vote and to obtain the mainnet dividends with an APY at 7639%.