Staking
Your piece of the creampie
BJ operates a 100% profit share with stakers of The Circle Jerk Pool. There are multiple pools to stake in that each come with their allocated rewards. A total of 15% of the supply is reserved for staking rewards, diluting to early supporters prior to sustaining purely from fees generated.
Full Pools
The 69 Day Pool APY: 30% Cap: 30,000 BJ Time to Stake: 7 Days Duration: 69 Days Early Withdrawal: No fee, just APY shared with other stakeholders Launch date: 04.01.24 Le Ménage À Trois Pool APY: 45% Cap: 65,000 BJ Time to Stake: 7 Days Duration: 90 Days Early Withdrawal: No fee, just APY shared with other stakerholders Launch date: 04.01.24
The Gang Bang Pool APY: 69% Cap: 55,000 BJ Time to Stake: 7 Days Duration: 180 Days Early Withdrawal: No fee, just APY shared with other stakeholders Launch date: 04.01.24 Upcoming Pools
The Hall Pass Pool
APY: Variable Cap: TBC Time to Stake: TBC Duration: TBC Early Withdrawal: No fee, just APY shared with other stakeholders Launch date: TBC The Circle Jerk Pool APY: Variable Cap: Unlimited Time to Stake: Anytime Duration: 1-2 quarters for tier 1, 2-4 quarter for tier 2, 5+ quarters for tier 3 Reward structure: 25% tier 1, 25% tier 2, 50% tier 3. Early Withdrawal: 6% Launch date: June 6th
Technicals
Staking unlocks a 13 level verification badge system highlighted in the previous page, based on total amount of $BJ staked. Badges are displayed on your BJ profile, comments, uploads and live chat communications.
Beyond the perks for the amount of $BJ staked, there is also a three tier system determined by stake duration which define user rewards.
Tier 1: Stake & lock 1 or 2 quarters, and share 25% of rewards
Tier 2: Stake & lock 3 or 4 quarters, and share 25% of rewards
Tier 3: Stake & lock 5+ quarters, and share 50% of rewards
Important to note: Only Tier 3 stakers can increase their stake before the end of term.
Staking user flow:
Users stake $BJ tokens in the staking pool, and choose one of 3 tiers to stake in a reward period. Users can’t stake multiple tiers in the same reward period.
Stakers can see their current shares, percentage ratio to total tier which they have chosen to stake and total unlocked amount, as well as the token unlock date.
Prior to the unlock date, fees apply so stakers can unstake only 94% of their staked tokens. Once they reach the unlock date, they can choose to unstake or restake free from fees.
When users unstake at the end of their term, they receive back their original $BJ token allocation in full plus any rewards claimed.
Restaking starts from the time users confirm the `Restake` button. When restaking, users can change their original tier. Please refer to restake rules below for more information.
Users can claim their rewards anytime without unstaking if they have any available. For reward calculation refer below.
Users can increase their staked amount in the current reward period, but this is only available for Tier 3 stakers.
Reward Calculation
Reward are funded by the Blocjerk team initially at variable times dependant on protocol fees generated however all steps will be automated in later phases once the build is complete. Users might get rewards immediately from staking, or they might have to wait for injections depending on when they staked, block times and deployment dates.
This section elaborates how to calculate rewards;
Rewards depend on tiers and staked amount. The higher the tier, the larger share of funded rewards.
In each tier, the system calculates the staking share per users like this;
Locking percent = 100% * Now - Staking start timeStaking period Staking amount = Current locked amount * Locking percent Staking share of user = 100%*Staking amount Rewards = Staking share* Funded rewards * Tier percent
i.e. Let’s assume User A, B, C stakes 1000 $BJ tokens on different tiers.
Reward 1, 2, 3 indicates the times that 5000 $BJ tokens were injected as rewards by the BJ team.
User A staked in Tier 1 for 1 quarter, User B staked on Tier 2 for 3 quarters after first rewarding, and User C staked on Tier 3 for 5 quarters after first rewarding.
Rewards and shares are calculated per tier.
User A and User B have 100% of staking share on each Tier 1 and Tier 2.
User C staked in the second reward period, but will unlock in third reward period.
At Reward 2,
Locking percent = 3q / 5q = 60%
Staking amount = 1000 * 60% = 600 $BJ
Staking share = 600 / 600 = 100%
Rewards =100%* 5000 *50% = 2500 $BJ
At Reward 3,
Locking percent = 2q / 5q = 40%
Staking amount = 1000 * 40% = 400 $BJ
Staking share = 400 / 400 = 100%
Rewards =100%* 5000 *50% = 2500 $BJ
⇒ User C's Total Rewards =2500 $BJ + 2500 $BJ = 5000 $BJ
Restake Rule
Users can choose either automatic or manual restaking, during harvest. For automatic restaking, simply click the restake button and watch as the magic unfolds on chain. For the manual process, simply unstake, play about with your metamask for a while then follow the original staking process.
This section elaborates the restake rules in several use cases.
Restaking means unstake all the unlocked/locked tokens and stake again. This can be automated or manual.
i.e. User A already has 1000 unlocked $BJ tokens and 500 locked $BJ tokens for 1 quarter.
Restaking means unstake 1000 + 500 $BJ immediately and stake 1500 $BJ again.
Users can use the automatic restake button before they reach the unlock date yet this comes at a 6% fee, outside of harvest dates.
i.e. User A already staked for 1 quarter in the current reward period.
If User A selects the automatic restake option, the contract automatically restakes for 1 quarter, if done outside of harvest periods this still incurs a 6% fee.
Or after the end of 1 quarter, User A can select the auto-restake option, then restake immediately.
When automatically restaking, users can change locking periods by selecting different locking periods which will be applied in the next reward period, otherwise the contract uses the same locking period from the first stake.
i.e. When User A selects the automatic restake option, they can change locking periods during that window in the menu shown above.
User A staked for 1 quarter in the first reward period, now wants to restake for 2 quarters.
While time still remains to the start of next reward period, the contract will restake for 2 quarters in the next reward period, this can be adjusted with the "count" option, giving users multiple automated restaking options.
If users restake locked tokens manually, only 94% of total amount will stake in the pool meaning a 6% fee is taken.
How to stake?
The steps are very simple and consist of minimal clicks or technical requirements.
Connect wallet
Click the "Stake" button.
Input amount of BJ to stake and duration to stake for
Confirm the transaction & you're done. Note: during the first transaction you will have to approve the staking contract first. This will happen only once. How staking rewards are generated? Staking rewards are generated from all fees taken by the network's streams of revenue as well as a base allocation from initial injection.
Where do fees come from? Fee's are generated from a number of avenues such as; • PPV, paid DMs, tips and subscriptions. • AI toolkit memberships and spare GPU. • Token trading and marketplace fees. • Advertisements in-app.
Disclaimer: BJ tokens are strictly for utility purposes in the same way that any in-game or in-app digital tokens or currencies and strictly not an investment. As our token lives on-chain, we can offer added utility as well as unprecedented levels of verifiable transparency. The above data is solely compiled for transparency, educational and informative purposes only. Blocjerk and all affiliates hold no liability for financial losses incurred from purchasing any tokens or NFTs we release. Markets are highly volatile, especially ones in their infancy like ours. You could also lose all your money due to a hack, competency failure or technical error. Therefore, you should only ever spend what you can afford to lose.
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