Welcome to Atlantis! The Atlantis staking pool is our first DeFi product. This exciting addition represents another opportunity for Immortals to passively increase their $GAIA tokens.
The $GAIA token is actually already self staking by design. We utilized deflationary tokenomics to reward holders for not selling. The longer you hold $GAIA the more you gain, as each transaction triggers a burn and also a redistribution of tokens to our Immortal $GAIA holders. This was always just the first step in rewarding loyalty to the project.
Staking is relatively low risk if you are holding a token long term. The only downside is that all staking pools charge a small percentage for either entering or exiting a pool. Sometimes it can be both. Ideally, you want to stake for at least a month to see the benefits of compounded gains.
Staking is also inherently more eco-friendly than something like mining, which is why we feel it is the perfect product for us to start with. Staking requires very little to run in terms of hardware, and once a contract is launched the carbon footprint of staking is almost negligible — when compared with BTC and ETH based contracts.
A basic overview of staking
A pool will start at a defined percentage of return, known as APY. As more people enter the pool the percentage starts to go down. Early investors will theoretically see the most gains. For the majority of staking pools the APY percentage will fall, but only if people keep entering the pool. Most projects see a stabilization of APY around a certain percentage, which is defined by market activity. You gain a percentage of tokens based on the APY over a given period of time. The longer you stake the more you make!
But can I still use my $GAIA in community votes?
Yes! Our amazing smart contract developers saw this issue coming and created a phantom $GAIA token. So you can still vote for your favorite organizations while staking $GAIA in the Atlantis pool.
How to stake your $GAIA
Go to our dedicated app — Atlantis App. When prompted by your wallet, hit Connect.
Once connected, Click on Stake on the main screen of the app.
On this next screen, use the bunny slider to select how much $GAIA you want to deposit in the Atlantis pool. Click Confirm.
Your wallet will now prompt you to Approve $GAIA. Click Confirm (confirm is greyed out here but it will be a highlighted blue button for you).
There will be another prompt by your wallet to approve the Staking itself. Click Confirm.
That’s it! You have now successfully staked your $GAIA in the Atlantis pool.
You can keep track of your earned $GAIA by the same link we used before — Atlantis App — but you should be automatically taken back to this page if the staking was successful.
The fee for depositing and harvesting will be 5%. This will follow our regular 5% transaction fee on $GAIA: 2% donation + 1 % liquidity + 1% burn +1% liquidity. No fees for the first week!
Ideally you only want to harvest once a day so you can see benefits from compounding. Harvesting does cost a small amount of BNB in gas + there is the 5% txn fee. Try to make a habit of doing it at the same time each day, or even every second day to minimize gas and txn fees.
The best returns come from reinvesting what you harvest. You can also just harvest what you earn and not reinvest.
You will often see two percentage return figures on pools like Atlantis, APY and APR. APR is without compounding. APY is what you get when reinvesting your profits. If you want to reinvest earned $GAIA use APY, if you take out as profits use APR.
Thank you again for being here with us on this journey. This is hopefully a nice reward for our Immortal $GAIA holders and we hope to bring more DeFi products soon!
We are leaving the pool fee off for the first week to make up for a slight hiccup we experienced in our smart contract. We rectified the situation, but it resulted in holders losing a small amount of tokens. The bug caused a small percentage of $GAIA from each Immortal to be redistributed to the ops wallet, without individual transaction records. Redistributing all the lost tokens to every Immortal is effectively impossible, so we decided to launch the pool without fees. This means that our Immortals get back what they lost and because of the high APY it won’t take long!
This is only a very basic look at staking. Doing your own research is essential in the Crypto currency space. We highly recommend DYOR if you want to fully understand the risks of staking. This article is not financial advice. Only ever invest what you can afford to lose.