Introduction to ROOK Staking
ROOK holders can now stake on Rook Trade.
Staking on Rook Trade earns your xROOK tokens a share in the protocol’s success. Deposit fees are turned off until 4/28/22 at 5PM EST.
The staking contract for ROOK is a familiar asset, the LiquidityPoolV4 contract that secures the other tokens Rook users had staked in the old app. There are tunable aspects of the staking contract incentivization through governance that will help create ‘stickiness’ for ROOK, including a deposit fee that is shared amongst all current stakers. There’s no withdrawal fee.
Your balance of xROOK represents your share of the pool. Your xROOK total will not equal the amount of ROOK you staked.
There is a 0.64% deposit fee for ROOK staking. This is to disincentivize short-term gaming of the staking APR and to reward current stakers for leaving their ROOK in the staking contract.
There are two ways staking ROOK are incentivized:
Coordinomics - As more ROOK is used by Keepers to fill orders, stakers benefit. Stakers will receive a portion of the winning ROOK bid for each transaction executed on the Rook Protocol. Ten percent each bid is distributed pro rata among holders of xROOK.
Governance-Directed Treasury Asset Revenue - The DAO can decide to use a portion of approved Treasury asset revenue to boost staking. Attend the weekly Treasury Tuesdays in Discord if you would like to contribute to creating a consensus-driven strategy.
Staking rewards are calculated as a moving average of the last 3 Coordinator deposits, plus the last 3 Treasury deposits. The APR shown in the UI is the sum of the Coordinator APR and Treasury APR. The Coordinator deposits happen on a regular epoch schedule which is 25600 blocks, +/- 31 blocks, or about four days (usually a bit less). The epoch timer shown in the UI is counting down to the moment in time relative to the number of blocks still left to be mined in the epoch.
The Treasury deposits are done manually, and will try to track the Coordinator epochs for simplicity. We will also eventually move to automate those on the same epoch schedule.
ROOK Earned by Staking
You do not need to claim ROOK earned via staking. You will simply see your original staked ROOK balance increase. If you want to extract ROOK gained by staking, you can choose the amount you want to unstake and leave the rest in the staking contract. Know that if you choose to stake again, that ROOK will be subject to a deposit fee in the staking contract.
Early Stakers Benefits
ROOK staking launches with exciting new benefits:
0.64% deposit fee waived for the first 7 days of ROOK staking (returns at 5PM EST on 4/28/22).
Want more? The Rook DAO allocated a revenue percentage from locked CVX to temporarily boost staking APR!
How to Stake your ROOK for xROOK
- Go to https://app.rook.fi/stake and enter the amount of ROOK you want to stake in the box at the bottom.
2. Approve your ROOK for use in the staking contract
3. Stake your ROOK
Staking Page: https://app.rook.fi/stake
Staking Contract (LiquidityPoolV4): https://etherscan.io/address/0x4F868C1aa37fCf307ab38D215382e88FCA6275E2
xROOK Token: https://etherscan.io/token/0x8ac32f0a635a0896a8428a9c31fbf1ab06ecf489
ROOK Token: https://etherscan.io/token/0xfa5047c9c78b8877af97bdcb85db743fd7313d4a