Staking & Loot Boxes
Forkast's staking system enables users to stake CGX tokens to earn weekly rewards inside of Loot Boxes. Higher and longer staked amounts unlock better rewards. Loot Boxes are categorized as Bronze, Silver, or Gold, each requiring different minimum staked amounts to unlock. Loot Box distributions occur weekly and may be opened at no cost, with rewards automatically deposited into the user's account wallet. Read more about how to use your rewards for trading here: Open, Claim -> Trade!
Users can lock up their CGX tokens for a predetermined period of time. The longer the staking period, the higher the reward multiplier:
- 1 Month = 1x
- 3 Months = 1.5x
- 6 Months = 2x
- 9 Months = 3x
The longer you stake, the better the Loot Boxes you can access, and the higher your potential rewards.
Rewards are distributed across three different types of Loot Boxes: Bronze, Silver, and Gold, each offering increasingly valuable rewards.
- Bronze Loot Box: Requires at least > 200 CGX staked.
- Silver Loot Box: Requires at least > 2,000 CGX staked.
- Gold Loot Box: Requires at least > 20,000 CGX staked.
The staking amount and locking period together determine the type and tier of Loot Boxes user earn. Reward multipliers are applied based on the staking period.
Disclaimer: The Loot Boxes awarded during Forkast's launch were unique and one-of-a-kind.
- Exciting Incentives: Gamified rewards make staking more exciting.
- Scalable and Secure: Decentralized infrastructure ensures fairness and transparency.
- High ROI: Longer staking periods and higher amounts yield greater rewards.
Loot Boxes are awarded weekly. Their reward preview will appear in the bottom-right section of the Staking page, together with summarized historical Loot Box earnings.
Claiming a Loot Box involves two simple steps: opening and claiming. Opening reveals the drop rates, while claiming transfers the rewards directly to your wallet. Both steps are completely free and gasless.
Once the claim period begins, an "Open Loot Box" button will appear, guiding you through the process. Opening the Loot Box will display your actual rewards. Once you hit the "Claim Rewards" button, these rewards will be sent to your account wallet.
The reward multiplier applies to the staked amount. This means we calculate rewards based on the effective staked amount after applying the multiplier.
Example 1: Stake Amount: 5,000 CGX for 1 month
- Effective Staked Amount (Multiplier Applied): 5,000 CGX (1x multiplier)
- Loot Boxes Awarded:
- Bronze Tier 5 Loot Box (5,000 ÷ 1,000)
Example 2: Stake Amount: 15,000 CGX for 6 months
- Effective Staked Amount (Multiplier Applied): 30,000 CGX (2x multiplier)
- Loot Boxes Awarded:
- Gold Tier 1 Loot Box (Eligible for Gold Tier 1, 20,000 – 30,000 CGX stake required)
- Silver Tier 5 Loot Box (Remaining 10,000 qualifies for Silver Tier 5, which requires 10,000 – 12,000 CGX staked)
Example 3: Stake Amount: 20,000 CGX for 9 months
- Effective Staked Amount (Multiplier Applied): 60,000 CGX (3x multiplier)
- Loot Boxes Awarded:
- Gold Tier 3 Loot Box (Eligible for Gold Tier 2, 60,000 – 80,000 CGX stake required)
This ensures that Loot Boxes are assigned based on the best possible tier available for the effective staked amount after applying the reward multiplier.
