HODLEMOD: Bonuses for Holding in Staking

Overview

HODLEMOD is a unique feature in the ElagabalX staking platform that rewards users for their loyalty and commitment to holding their tokens in staking. It’s pretty simple - the longer you hold, the greater the rewards you’ve got! This document provides a detailed explanation of how the holding bonuses are calculated and the benefits you can reap from sustained staking.

Bonus Multiplier Calculation

The bonus multiplier, denoted as 𝑀(𝑛), increases with the number of weeks 𝑛 that tokens are held in staking. The calculation follows the formula:

$$𝑀(𝑛) = 1 + (𝑀max − 1) ⋅ (1 − 𝑒−𝑘⋅log⁡(1+𝑛))$$

Parameters Explained

• 𝑀(𝑛): The multiplier applied to the staking rewards for the n-th week.

• 𝑀max: The maximum possible multiplier (for example, 2 or 2.5).

• 𝑘 : The growth rate coefficient (for example, 0.1 or 0.2).

• 𝑛: The number of weeks tokens are held in staking.

This formula ensures a progressively increasing reward for each additional week of holding, capped at the maximum multiplier of 1.5.

Benefits of HODLEMOD

• Enhanced Rewards: As the weeks progress, the multiplier boosts your staking rewards, providing greater returns over time.

• Incentive for Loyalty: HODLEMOD encourages long-term holding, aligning with the ElagabalX community's values of commitment and trust.

Example Calculation

Some wallets currently have a multiplier of 1.36 for holding their stakes for 16 weeks. These are our OGs.

To illustrate how the multiplier grows, consider the following example for a user holding tokens for 10 weeks:

Thus, after 10 weeks, the user's rewards are multiplied by approximately 1.330.

Conclusion

HODLEMOD offers a compelling reason to stay invested in the ElagabalX ecosystem. By holding your tokens in staking longer, you unlock higher rewards, making your expectations more rewarding. Dive into the HODLEMOD experience and see how your rewards are about to grow week by week!