Hodl Bonus (Deprecated)
HODL your precious $SING to maximise the HODL bonus!
- If you deposit $SING in the bank for the whole 7days without withdrawing, you will be given a hodl bonus multiplier of x1.3 (max)
- Even if you withdraw you will be given some bonus multiplier (increases linearly) depending on the number of days you HODLed.
- Bonus is updated on interaction with the bank since contract can't update itself. So depositing even a little (even 0 SING ) frequently will help you get the maximum result.
- If you withdraw, the bonus count resets and stops. You may have to send a deposit (even 0) transaction to restart it.
If you initially staked 100SING in the bank, the hodl bonus is 0% and your share point starts with 100. If 140000$ is distributed during the week, 20000$ will be distributed per day, and if the total of points of people gathered in the bank is 1000, you will earn 2000$ per day.
The hodl bonus gauge fills up over time, but it doesn't update until you interact with the bank again (i.e. deposit, claim). However, when you withdraw $SING, the Hodl bonus is reset to 0.
When the hodl bonus is accumulated for 84hr/168hr, and if you deposit 100 SING once more, the hodl bonus is updated and a boost of 15%, which is half of 30%, is given. So if you are currently staking 200 SINGs, hodl bonus of X1.15 is applied and you will earn USDC with 230 points. If at this time, the total of everyone's points is 1200 points, you will get 20000$X(230/1200)=3833$ per day.
When the hodl bonus reaches max, It will stay at max as long as you do not withdraw $SING.