The first claim in rewards

1

If we do not claim the small amount of reward from the first 5%(10weeks) before the deadline due to high gas fees (that would be worth more that the reward itself), does that have any effect on our rewards the be unlocked?

I don’t mind not claiming the first 5% as long as it doesnt effect my rewards to be unlocked…

u/superbit123 @Superbit123 do you have any insight towards this? Ive had it come up in conversation a couple of times now and I’m unsure…

2

The smart contract will compute the total token receivable for each wallet address but it requires users press the ‘claim’ (send request) button actively to claim it. Regardless of the staking reward or the unlocked token, the reward token will NOT transfer to your wallet automatically.

  • Users have to manually redeem with paying the ‘gas’ fee.
  • The event of a user claiming the staking reward at that particular moment is considered as a staking cycle (‘cycle’). Each cycle will last for 19 weeks.

To illustrate further, the number of staking rewards shown on the staking interface is the total receivable staking reward on that particular ‘cycle’. The new cycle will kick start immediately right after the claiming of the previous cycle, so the staking reward cycle will keep rolling until the end of the staking event. Users can choose to end the cycle (claim the reward) anytime before the deadline.

In each cycle, users will only receive 5% upon their claim (harvest), the remaining 95% will transfer to the locked token’s account. 5% of the total receivable staking reward will transfer from the locked token’s account to the unlocked token’s account every 7 days.

The unlocked token derived from each staking circle will be accumulated automatically without user’s interference, users can then choose anytime before the deadline to claim the unlocked token.

For example: (a single circle)

On 1st June, Alice’s f(x)Wallet interface showed a total staking reward of 1,000 FX to be claimed. She ‘presses’ the claim button and pays the gas fees to claim that 1,000 FX reward. After the smart contract processed the transaction, 1,000 FX will be transferred out from the receivable account to the following account:

  1. Alice’s wallet — 50 FX (1,000 FX *5%)

  2. Alice’s locked token account — 950 FX (1,000 FX *95%)

On 8th June, 50 FX will be transferred out from the locked token account to the unlocked token account. Alice can choose to claim it now or claim it later. If Alice chooses not to claim it on 8th June, the balance of the unlocked token account will increase to 100 FX on 15th June; 150 FX on 22nd June; 200 FX on 29th June etc. If Alice did not claim any unlocked token before 29th June, she can claim 200 FX to her wallet.

Please note that, the first claim of the staking reward is the prerequisite criteria of the following unlocked token.

In simple terms, you need to have the first 5% to get the rest of the 95%.

The balance of different staking rewards from each staking cycle will be combined and shown on the staking interface.

Users can claim the staking reward anytime they want but the unlocked token can only be released every 7 days.

All remaining unlocked tokens shall be claimed before 5th Dec 2021 or else all unclaimed unlocked tokens will be forfeited.

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4

This also answers my other thread I posted in questions!

Thank you for clearing things up in regards to the first claim and what happens to the earnings between that first claim & the total accrual.

5

“The smart contract will compute the total token receivable for each wallet address but it requires users press the ‘claim’ (send request) button actively to claim it.”

I stake with fx and pundix.
Since both come from same eth adres and fx rewards and staking earnings will be added to 1 fx adres, wouldn’t it be logical that i only have to claim one of my stakings to unlock instead of claiming my fx staking AND my pundix staking seperatly?

Aka: 1 claimbutton to unlock both at once.

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6

Let me check this one with the rest of the team as I’m not entirely sure.

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7

In simple terms, you can just claim on the 14th June for the first “claim” and on the 4th of December to unlock everything.

15th June is the deadline for unlocking the rewards.
5th December is the deadline for collecting all your rewards.

Why 14th June and 4th December and not 15th and 5th? Because i always play safe incase on the last day, the network may have some issues, or traffic is congested or i may also “forget”.

Play safe, stay safu!

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8

A post was split to a new topic: Claim message scroll bug (text out of visible area)

10

Yes I am curious on this too. Kindly confirm whether one of the CLAIMS performed is suffice.

11

In view of high ETH gas fees, I like to know if FX team will give this same advice to the community to minimize on spending on high ETH gas fees.

12

Did you mange to find answer? Iam also in the same position and would like to know the answer…
Thank you

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13

Could I please get advice?

  1. So if I ‘press’ the claim button on June 1, that will stop the earning phase and move me to the locked token release phase staggered every 7 days?
  2. If June 1 is my claim, I’ll no longer be eligible for any more earnings between June 2 - 15, correct? (I understand the already earned rewards through June 1 will time release on June 8, 15, 22, 29,etc…)
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14

Yes, my bad for not replying earlier. There are two different claim buttons so two different transactions are required.

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15

Ok thank you

16

Hi, so I sort of understood this but not really.

I started before pundix was converted. I had it. It converted and I staked it.

June came around and I had $100 worth of eth and if I selected claim I’d of lost $30. I tried… It said I didn’t have enough eth…which made no sense.

I decided I’d leave it alone and try before December. So here I am… Same error… How much gas does this claim cost?? It’s more than the 0.01eth I have in wallet? My reward is only $80 worth of fx (like 40fx)

So after a year of waiting and errors stopping me… I still cant claim. Since I wasn’t able to claim on June is my fx lower than it would of been or what exactly is the difference?

Also, how do I claim this and get this over with? I have written the team several times but never got anything in may or June… N wrote them again today. (still going to wait on that) but found this forum so I’m writing here as my Google result pointed me to this post.

So a) since I didn’t claim in June… What did I miss out on?
B) why can’t I claim right now even with a gwei of 65 (estimate of under $5 fee) and 11x that in eth in my wallet yet I still can’t claim 40fx?

My staking area says “concluded”…

J

17

Hi,

After reading your situation, I will try to explain what may have happened to you.

1, High ETH gas fees to execute any ETH blockchain transactions was a big issue around June 2021. It is possible that even $100 worth of ETH would not be enough gas fees to execute a transaction during that period of time.

  1. The smart contract to claim ended on 30 June 2021. PUNDIX team put out the details of how the smart contract was structured, and repeatedly reminded the community via all available media channels to take action by certain dates if one chooses to make claims or the smart contract would expire. It looks like when you decided to try to claim again, the smart contract has already expired.

I hope this shed some light for you.

Regards.

MakeTheSwitch