By: Geeq  on Mar 23, 2021

Dear Geeq Community Members,

Soon we will release Geeq’s Web-Based Staking. But before we do, we wanted to provide critical information on the structure, rewards and requirements of Geeq Staking. Enjoy!

General Overview

Geeq Staking can be likened to a savings account — it offers constant time-based returns based on the duration of your staking commitment. In other words, the longer you stake, the higher the rewards.

First, it is pool based. Meaning it is a group activity with multiple contributors for each staking contract.

Second, it is flexible. Meaning you have the option to withdraw early, stake until full maturity, or withdraw somewhere in between. But be warned: leaving early comes at a cost.

Third, it is all about liquidity. Meaning you have the option to stake your UNI-LP tokens for the Geeq/ETH pair, thus earning both uniswap fees + a great APY.

There will be 2 staking pools: Geeq Staking and Geeq Liquidity. The terms of each staking pool (rewards, lengths, minimum contribution, etc.) are detailed below.

This Saturday, March 27 at 2 pm UTC (10 am ET), Geeq will update its Staking page on the website, geeq.io/staking/. It is in the top navigation of any page.

Simply click on the contract that interests you to see its details. Then connect your ERC-20 Web 3 wallet to the contract, deposit your $GEEQ into the pool, and stake until you wish to withdraw. When you wish to withdraw, have your principal and rewards sent back to your wallet. Easy!

Requirements for Staking

Here are the requirements:

Metamask: GEEQ Staking requires an ERC-20 wallet extension such as Metamask, or a compatible Web 3 wallet which will automatically link to our staking contracts. This is the wallet address you will contribute from and where your earned rewards will be distributed upon withdrawal.

Once the staking pools are opened, a progress bar will be updated twice an hour to show how much the contract has been filled. If you wish to know the exact percentage, please click through to the contract.

Full Maturity

Stake until full maturity to receive maximum rewards. Maturity will have a date and time assigned at which time full rewards will be available for withdrawal, so you will know exactly when you can withdraw to receive the maximum rewards.

Early Withdrawal

GEEQ Liquidity Staking offers an early withdrawal option for flexibility. Early withdrawal will have a date and time assigned so you will know exactly when you can withdraw early.

Although rewards are lower for early withdrawal, they increase linearly every day — past the early withdrawal date right up until full maturity.

In other words, if you withdraw after the early withdrawal date and closer to full maturity, rewards will be higher, but still less than full maturity.

The Staking Pools:

There are two staking pools: Geeq Staking ONE and Geeq Liquidity, each with different terms and rewards.

Geeq Staking Terms

• Full Rewards: 38% annualized
• Full maturity: 60 days
• Early withdrawal: No early withdrawal
• No minimum
• Maximum stake allowed: 20,000 GEEQ
• Pool size: 1 million GEEQ
• Contribution window closes on April 3rd at 2 pm UTC (10 am ET) if pool is not filled before then.
  

Geeq Liquidity Staking:

• Stake your Uniswap v2 LP tokens here
• Rewards: Uniswap Trading Fees + 85% APY
• Full maturity: 60 days
• Early withdrawal after: 30 days
• Early withdrawal: 30% annualized
• Pool Size: $200k GEEQ/ETH each side lockup
• Contribution window closes on April 3rd at 2 pm UTC (10 am ET) if pool is not filled before then.

What’s Next

When we update the GEEQ Staking website, it will have a countdown until the staking pools open on the 27th March at 2 pm UTC (10 am ET). Once the countdown is complete, staking will be open!