In order to probe community commitment for the migration to Vigor 2.0, we have established a staking program for current VIG tokens to be eligible for an allocation in the new token ‘VIG2’.
To qualify, VIG token holders must stake 1000 VIG (minimum) together with either 1 USDT (with a minimum of 1 USDT), 1 USD of Vigor (with a minimum requirement of 1 Vigor) or 1 USD worth of EOS. A new staking contract has been created specifically for this activity.
In addition to the recognition of staked VIG eligibility for the VIG2 allocation, the Yield+ rewards that are generated by the entire Vigor protocol (across the whole platform) will be allocated to this specific staking function only.
All Yield+ rewards will accumulate and be issued, together with VIG2 tokens, at the end of the staking period. This will coincide with the launch of VIG2. No date has been set for this yet.
Both the allocation of Yield+ rewards and VIG2 will be weighted by the amount staked as well as time staked. Tokens staked for longer will have a greater allocation.
Anyone can withdraw their capital from the staking contract at any time.
However, withdrawing before the official end of the staking period cancels any right to Yield+ rewards or VIG2 tokens. Rewards that have been forfeited remain in the pool for the benefit of those who are still staked at the end of the period.
Any stake that has been withdrawn can be restaked but the prior time weighted benefit is lost and the clock restarts.
Since the market values of EOS, USDT and VIGOR may change in USD terms, staking at any given time may give different ratios of stakes for each 1000 VIG.
Allocation at the end of the staking period will be strictly made according to the correct ratios above where any excess tokens (as a result of market value changes) will be discounted. Allocation will be derived from the amount of VIG staked initially, adjusted if USD collateral is below the ratio (but not above) and then with a time-weighting applied.
If you’d like to begin staking, please use this link: https://staking.vigor.ai/
All rewards will be counted from November 5th 2022.
