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IONX Rewards

Overview of IONX rewards programs available at rewards.charged.fi

Overview

Charged Particles is currently offering IONX rewards to community members who provide liquidity to the official IONX/ETH Uniswap V2 pool and/or stake their IONX at rewards.charged.fi. The Charged Particles Rewards program serves two purposes:
1) Distribute more IONX tokens to community members to help the protocol further decentralize
2) Reward users for providing Liquidity to the IONX/ETH pool on Uniswap V2 or holding their IONX long-term

V1-V3 and V4

Why are there 4 versions?
  • V1 and V2 for 12 weeks to ensure we could make improvements to contracts if needed. After running both programs successfully for 6 months, we launched V3 for another 24 weeks which featured some user interface changes and ran for 24 months. The entire Rewards program will last 2 years.
  • V4 will be hosted on GYSR for 2 main reasons:
    • Using GYSR allows the core development team spend more time focusing on core product (including building out an additional, NFT-based rewards program featuring Leptons)
    • GYSR pools can be launched on both Ethereum Mainnet and Polygon, so if IONX gets liquidity on Polygon adding a rewards program on that chain will be easier. V4 will exist only on Ethereum Mainnet at first, but support for Polygon may be added in the future
Timeline
  • The first 2 iterations of the IONX rewards program ran for 12 weeks
  • V2 ended Monday, November 22, 2022 at 21:43 UTC, and V3 began immediately thereafter.
  • V4 of Charged Particles rewards will begin Mon, 02 May 2022 21:43:00 UTC, right as Epoch 24 of V3 rewards begins
  • Participants can withdraw and harvest from the V1-V3 contracts in perpetuity, and then migrate them to V4 on GYSR

How to use rewards.charged.fi

Get IONX or IONX/ETH LP Tokens
  • To purchase IONX, click the GET IONX button on rewards.charged.fi to get IONX from Uniswap
    • IONX Address: 0x02D3A27Ac3f55d5D91Fb0f52759842696a864217
  • To get IONX/ETH, click the GET IONX/ETH button on rewards.charged.fi to provide Liquidity on the Uniswap V2 liquidity pool for the IONX + ETH pair
    • IONX/ETH (UNI-V2) Address: 0x60F6E2200bFEf8b4d120028Faff4D9A4486526f4
Stake, Withdraw, and Claim Rewards on GYSR
Staking IONX
  • Connect your wallet
  • Click GET IONX button on UI to get IONX from Uniswap
    • IONX Address: 0x02D3A27Ac3f55d5D91Fb0f52759842696a864217
  • Approve token
  • Deposit IONX
Staking IONX/ETH LP Tokens
  • Connect your wallet
    • Click Get IONX/ETH button on UI
    • Provide both IONX and ETH to the Uniswap L2 pool
    • Approve token
    • Deposit
Harvesting
  • After each epoch ends, users are able to harvest the IONX they earned for participating in the prior Epoch
  • Harvesting begins in Epoch 2
    • If you want to compound your rewards, re-stake your harvested IONX
Withdrawing
  • Click Withdraw on UI
  • If you withdraw before the end of an epoch, you forfeit your rewards for the epoch
  • You may withdraw after the end of an epoch and still earn rewards for it
    • e.g. if you stake for all of epoch 1, and withdraw in epoch 2, you will still get rewards for epoch 1, but won't get any for epoch 2 once epoch 3 starts

Migrating to V4

  1. 1.
    Visit https://rewards.charged.fi/go/migrate
  2. 2.
    Withdraw your funds from the pool they are currently in (e.g. V2)
  3. 3.
    Click the "Stake on GYSR" button to navigate to the appropriate pool

How Estimated Rewards are Calculated

Charged Particles GYSR pools are GYSR Fountains. For an explanation of how Rewards calculations for for Fountains, see the official GYSR documentation here.
Expected Rewards = (User Pool Balance * Epoch Multiplier) / Total Pool Balance
Variables: Expected Rewards = how much IONX a user can expect to earn User Pool Balance = user's balance of IONX or IONX/ETH in the staking pool Total Pool Balance = all IONX or IONX/ETH in the staking pool Epoch Multiplier = Starts at 1 and progresses to 0 over the course of an epoch, making it so users who are in the epoch for longer get higher rewards than those who join towards the end

Annual Percentage Return (APR)

DISCLAIMER: The stated APR (the 'Rate') is denominated in terms of $IONX, not USD or other fiat currency. The Rate is a forward-looking projection based on our good faith belief of how to reasonably project results over the relevant period, but such belief is subject to numerous assumptions, risks and uncertainties (including smart contract security risks and third-party actions) which could result in a materially different (lower or higher) token-denominated APY. The Rate is not a promise, guarantee or undertaking on the part of any person or group of persons, but depends entirely on the results of operation of smart contracts and other autonomous systems (including third-party systems) and how third parties interact with those systems after the time of your deposit. Even if the Rate is achieved as projected, you may still suffer a financial loss in fiat-denominated terms if the fiat-denominated value of the relevant tokens (your deposit and any tokens allocated or distributed to you pursuant to the Rate) declines during the deposit period.
APR Formula: (Total Rewards for Epoch * 52 weeks ) / Total Pool Balance
Assumptions:
  • Total Pool Balance = Total Pool Balance as of the last Ethereum block
  • User deposits at the beginning of an epoch, and therefore has an epoch multiplier of 1
  • User remains in the pool for the entire epoch
This video has a walkthrough of how APR is calculated for an identical rewards program: https://youtu.be/Maq-KxPv8W4?t=504