Staking provides a few utilities. Staking your ErgoPad tokens will generate new tokens based on the number you have staked and the emission schedule. If you reach one of the staking tiers, you'll get pool allocation which gives you an opportunity to contribute to new projects launched on ErgoPad at staker and seed round rates not available to everyone.
Staking went live on January 26th.
Pool allocation will be determined on a case-by-case basis for each project. Projects will have some tokens reserved for ErgoPad stakers. A staking snapshot date will be announced ahead of time, and a sign-up form will be provided. Anyone staking in a tier during that time who signed up will be eligible for their share of staker round tokens based on their pool weight.
There will be 400M total ErgoPad tokens, and 321M of them will be sent to stakers over a 3 year period. The APY will vary day-to-day based on the number of staked tokens and the total tokens left.
There are fees for unstaking early, in order to prevent people from staking the day before a snapshot, then unstaking the day after. Staking Ergopad tokens should be an indication that you are interested in contributing to project development over a long-term time-frame. The intention behind this project is to group together and help build the Ergo blockchain.