LGCY Pre-Staking Guide

Here we explain in detail how staking will work

We offer this guide to help you through the staking process in preparation for the opening of the staking pools within the next few weeks.

If there any questions or concerns, please do not hesitate to ask an admin on our Telegram channel.

Good luck and happy staking!

General Overview

LGCY Staking can be compared to a savings account — it offers constant time-based returns based on staking time. In other words, the longer you stake, the higher the rewards. That may seem basic, but LGCY Staking is unique in many ways.

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.

Finally, it is strategic. Meaning if you stake until full maturity, and others in your pool withdraw early, you will receive a portion of their rewards.

There will be 3 staking pools: Gold (shortest), Platinum (medium) and Diamond (longest). The terms of each staking pool (rewards, lengths, minimum contribution, etc.) are detailed below.

The Staking Pools:

There will be three staking pools: Gold (short), Platinum (medium) and Diamond (long), each with different terms. Only one option can be chosen per wallet.

Gold Staking Terms

• Rewards: 56% APY
• Maturity: December 8th 2020
• Pool size: 1 Billion LGCY
• Time period to contribute: 7 days
• Minimum amount staked: 500,000 LGCY

Platinum Staking Terms

• Rewards: 56% APY
• Maturity: March 8th 2021
• Pool size: 2 Billion LGCY
• Time period to contribute: 7 days
• Minimum amount staked: 500,000 LGCY

Diamond Staking:

• Rewards: 56% APY
• Maturity: September 8th 2021
• Pool Size: 3 Billion LGCY
• Time period to contribute: 7 days
• Minimum amount staked: 500,000 LGCY

Requirements for Staking

Here are the requirements to be aware of.

Our Website: LGCY Staking can be done directly from our website at LGCY.Network

500,000 LGCY Minimum: to stay consistent with Social Mining, the minimum amount to stake is 500,000 LGCY. There is no maximum.

Early withdraws will be allowed for LGCY stakers but will come with a penalty. This will allow for a more steady growth and longer lowered circulating supply for our holders.

Early Withdrawal

LGCY Staking offers an early withdrawal option for flexibility. Early withdrawal can be at any time, but early withdrawals will receive no rewards.

LGCY Staking pools are like a pie. The project will place a predetermined amount LGCY into each pool prior to launch and this number will not change. If stakers leave early, the pie does not shrink, instead they lose their rewards while the proportions of the remaining stakers will increase.

Therefore, stakers who remain til the end will earn more than just the maximum APY, they will also earn a share of rewards left behind by those who stopped staking.

In this sense, LGCY Staking offers an element of strategy, suspense and gamification.

Staking Steps for LGCY.Network:

1. Go to staking page.
2. Connect wallet.
3. Choose option.
4. Send LGCY.
5. Get LGCY back and USDL rewards at the end of staking.

This pre-staking program and its APY is a one time deal that we are offering to our early holders.