Overview
CheemsX value its holders and rewards the holders in many different ways. Unlike other tokens, where only insider and team member take the profit, CheemsX value its community and give the profit back to its holders, its true masters.
If you hold the token in your wallet, you will get automatic reflection from buy and sell taxes.
But if you decide to earn more by holding the token for longer term, there are additional incentives and rewards in the form of Staking, Locking and Nodes.
Staking: No lockup period. Earn boosted rewards (always set to more than base reflection that you otherwise get) in the form of native CheemsX token. More you stake, more you earn. Claim your rewards or your original stake anytime.
Locking: By locking your CheemsX token for a prespecified duration, you earn more rewards than staking. You can claim your rewards anytime but you will be only able to get your original token back from the contract after the lockup period is over. If you need to have access to your cheemsX token anytime, then do not use this lockup option (instead use Staking as above).
NFT Node: If you want a CheemsX NFT that earn rewards perpetually (node rewards is always higher than simple staking or locked rewards), then you can sacrifice you CheemsX token to create a NFT node. Node creation is a irreversible process and you will never get back your original CheemsX token. You can sell your Node NFT at profit and buy cheemsX token with the profit and make a new NFT node again, if you like.
Minimum CheemsX token to create a node is 100 million and up. Higher the amount, you will get a higher tier NFT that earns even more rewards. This NFT is a typical NFT that you can buy, sell, use just like any NFT and this NFT will have many use case for our upcoming NFT marketplace. To sell or use it like as your social profile, just unstake the Node NFT and the NFT will be sent to your wallet. If you want to restake your NFT, you can still do it in our dapp.
Reward Calculation: Sustainability is one of the top priority of CheemsX ecosystem. Yet we want to give our community the maximum benefit of holding our token as staking rewards. We use a complex sets of parameters that determined the APY that includes:
Reward Poll Size [Example: 1,000,000,000]
Distribution Period [Example 7 days]
Boost Factor for the Method of Stacking [X factors]
Percentage of total coin currently stacked [p]
Rewards Divisor [div]
Equation:
Daily Rewards =(Reward Pool Size / Distribution Period) x (Token percentage staked in the category)/100) x (Boost factor/Rewards Divisor)
Interpretation of the Equation:
Bigger the Rewards pool size, bigger the rewards in each class of staking.
Shorted the distribution size, the bigger the rewards.
Higher amount staked in a particular class of staking, more rewards pool will be allocated that class to minimize reward drop for that class
Higher the boost factor for the class of staking (Node>Locking>Staking), more rewards to that pool.
Smaller the rewards divisor, larger the rewards for that pool (to offset token percentage allocation for the class of staking.
Example Calculation:
Remember, the above example is just illustration purpose. Actual reflection and staking rewards might be higher and lower depending on daily volume, current tax rate, total holder counts, amount of token you hold or stake, current distribution period, reward pool size etc.
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