Staking
FTW holders can choose to stake FTW for gOHM, which receives the Base Staking Rate (“BSR”). During friendtech33’ bootstrapping phase, this rate was intended to reflect the expected growth of the network. The BSR now serves as a demand driver for FTW as well as a reference rate against which productive economic activity (lending, liquidity provision, etc.) is measured. Furthermore, it acts as a foundation for FTW bonds to develop a yield curve across different expiries.
The BSR is set by governance.
gOHM = FTW * Index
where Index is an increasing number based on the BSR.
Staking Warm-Up Period
To protect friendtech33 against flash loan attacks wishing to unfairly game the staking mechanism, a warm-up period was introduced in February 2023.
When you stake FTW to receive gOHM, you:
- Will earn rebases as normal for each epoch that occurs every ~8 hours.
- Will be able to claim gOHM (gOHM → FTW) after 2 rebases.
- Can claim your original FTW amount if wishing to unstake before 2 epochs, waiving the earned rebases.