🧬Staking & Restaking Mechanism

Integrated Solution

BlastFi prioritizes the seamless user experience and the maximization of rewards through the integration of innovative Defi solutions. In the initial phase, we've integrated Chainlink's decentralized oracle solution, a cornerstone in ensuring real-time and accurate exchange rate data sourced from reliable off-chain sources. This strategic integration not only bolsters the transparency and integrity of our platform but also safeguards against centralized price manipulation risks.

Looking ahead, we're poised to introduce additional solutions such as the Liquidity Staking Platform (LSD) and other cross-chain restaking protocols. This comprehensive approach underscores our commitment to providing users with optimal exchange rates, enhanced liquidity, and robust rights protection. Through these integrated solutions, BlastFi offers a seamless and secure staking experience, establishing the groundwork for a resilient and sustainable staking ecosystem within the BlastFi realm.

Staking & Restaking Mechanisms

At BlastFi, users have the opportunity to participate in staking and restaking mechanisms, earning rewards while contributing to the liquidity and stability of our platform. Here's a detailed breakdown of how these processes work:

Staking Process:

  1. Initial Stake: Users initiate the staking process by depositing their tokens (referred to as "TOKEN") into the designated pools on our platform. In return, users receive corresponding tokenized assets (referred to as xToken) in return, minted based on the staked TOKEN. Upon unstaking, the xToken is burned.

  2. Recording Stake Value: At the time of staking, the system records the stake value, which is calculated as the product of the token amount and the token price at that moment. This record is stored for future reference.

  3. Staking process: At the time of staking, the system records the Stake Value = Token Quantity * Token Price, with the price sourced from Chainlink. Users receive rewards (in TOKEN) per block in real-time. Upon maturity, users can redeem the staked TOKEN by returning the corresponding xToken

  4. Unstaking process: To unstake, users need (1) the staked amount in the contract + (2) the corresponding xToken. If users lack xToken, they must purchase it externally.

  5. Flexible Pool Withdrawals: For flexible pools, users withdrawing tokens will encounter a waiting period, typically ranging from 1 to 4 days.

Restake Process:

  1. Using Tokenized Asset: Users can choose to restake by utilizing the xTOKEN received from their initial stake.

  2. Users receive rewards (xTOKEN) per block in real-time.

  3. Upon reaching staking maturity, users can redeem xTOKEN at the TOKEN exchange rate.

  4. Reward Fee: A percentage of rewards may be deducted by the platform as a fee, based on preset levels disclosed to users before initiating the staking transaction.

Example Scenario:

Suppose a user decides to restake 5 fETH tokens at a price of 2000, resulting in a restake value of 10,000. Throughout the restake period, the user earns interest in the form of BRES tokens. Upon withdrawal, if the user decides to receive ETH, they would receive back 5000 tokens, equivalent to 2 pETH tokens.

Other notes:

  • Users deposit tokenized assets into the pool and receive an Annual Percentage Rate (APR) in USD.

  • Upon claiming rewards, the USD value is calculated into tokens based on the exchange rate at the time.

  • Each TOKEN has a different APR for each type of pool, providing users with various opportunities to maximize their earnings based on their preferences and risk tolerance.