Aerovek x Gnogen Staking Announcement
It has been an eventful first 2 weeks for the Aerovek Staking Agency. The first to introduce a dual token staking reward mechanism to the Elrond Network ecosystem, also included in its roadmap rewarding delegators with exclusive Gnogen x Aerovek NFTs. This has brought much attention and demand to our staking agency, and yesterday’s spotlight from the Elrond Team has only increased that demand.
We have heard the feedback from members within our staking pool asking why they have not been receiving EGLD rewards for the past few days. The answer is simply a matter of our node not being selected for this week. This happens occasionally when a staking provider only has 1 active node. When this node goes back online it should earn more than is expected, in order to still achieve the anticipated APY (currently 11.48% at the time of this article). We are working diligently to get more nodes online and have come up with a solution that requires our community’s cooperation. In order to achieve escape velocity for staking pools to have long-term stability, we ask that delegators to the Aerovek Staking Agency be aware that we will go through periods where the APY drops, at least until we are able to bring more nodes online. These periods will occur when we place a new node on the Elrond validator waitlist and will stay at the lowered APY until the node is finally active. In order to offset the lowered EGLD APY during these times, Aerovek will increase the AERO token reward by a factor of 100x.
Our strategy will see 2 nodes enter the waiting list at a time. Once we have a node pass through the waitlist and become active, we will immediately start another node to enter the waitlist. We hope to always have 2 nodes in the waitlist until we reach our benchmark goals. Our aim is to have at least 10 nodes go online by the end of 2021, and 20–40 nodes when Phase 4 staking begins. With these estimated number of nodes, we can offer our delegators stable & high APY, while taking pride in securing the Elrond Network Blockchain for years to come. Aerovek aims to continue to bring innovation and development to the Web 3 ecosystem, without charging high fees to use our services. This will be made possible with the community’s help in becoming a stable staking provider.
Where delegators used to earn 15 AERO for every 1 EGLD earned in rewards, they will now receive 1500 AERO for every 1 EGLD. These rates are promotional and will only last until our staking pool can stabilize the EGLD rewards we are able to offer. We anticipate fluctuating EGLD APY until the Elrond Network transitions to Phase 4 staking, which should allow many more nodes to come online. The latest news from the Elrond Team suggests Phase 4 Staking will go live in early Q1 of 2022.
In addition to the increased AERO rewards, Gnogen will expand the Aerovek Comics from 4 Acts to a full 7 Act Collection. These exclusive NFTs can only be earned via staking in the Aerovek Staking Pools and will be rewarded based on how many EGLD one stakes, and also how long they have been staking with us. Aerovek will conduct Snapshots that will determine how much each delegator is staking, and for how long those funds have been staked. Those who keep their EGLD in our pools during this time of growth will be rewarded more heavily than those looking to dip their funds into the pool to receive short-term rewards, before quickly exiting. Further details about the NFT reward mechanism will be posted by Gnogen Studios in the coming weeks.
Changes will go into effect October 22nd, 2021 for those wishing to stay with Aerovek Staking.
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