Retro-active Staking for $CLAP Holders — Everything You Need to Know
As part of our commitment to reward our loyal community, we are excited to introduce the retro-active staking program for $CLAP holders. This program allows $CLAP holders to earn rewards for their past support and holding of $CLAP tokens.
This guide will explain everything you need to know about this unique staking opportunity and the associated bonus distributed in three tranches.
What is Retro-active Staking?
Retro-active staking is a special program designed to reward users for holding $CLAP tokens since the ICO back in January 2022. This program acknowledges users’ previous commitment and distributes rewards based on their historical holdings and current staking participation. Participating in retro-active staking offers several benefits, including the opportunity to earn rewards for past support and holding of $CLAP tokens, a 21% bonus distributed in three tranches over a year, and recognition of long-term loyalty to the $CLAP and $ERA ecosystems.
Program Details
Eligibility
To be eligible for the retro-active staking program, you must meet the following criteria:
- Bridge Tokens: Users must bridge their $CLAP tokens to $ERA before the tranches are distributed. For instance to receive the first tranche, you need to have bridged before Nov 23rd (date of bridge + 4 months).
- Staking Requirement: Users must stake at least 75% of their tokens in the 1-year erable° staking program and be able to prove it.
- Proof of Historical Holdings: Users need to provide proof of their historical holdings on Cardano. A dedicated form will be set up for this purpose. We might ask you to validate the wallet’s ownership by sending a simple transaction in ADA from this wallet. Obviously, the amount will be returned to you once the process has been finalized.
Reward Calculation
Rewards are calculated based on the amount staked in the 1-year erable° staking program, not the overall amount held. If a user withdraws early from the staking program, they will not be eligible for subsequent tranches of the bonus.
Bonus Distribution Tranches
The 21% bonus will be distributed in three tranches:
- First Tranche (1/3): Distributed 4 months after the bridge is live.
- Second Tranche (1/3): Distributed 8 months after the bridge is live.
- Third Tranche (1/3): Distributed 12 months after the bridge is live.
Step-by-Step Guide to Claiming Retro-active Staking Rewards
Step 1: Ensure Eligibility
- Bridge Your Tokens: Make sure you have bridged your $CLAP tokens to $ERA before the distribution starts.
- Staking Requirement: Ensure you are staking at least 75% of your $ERA tokens in the 1-year erable° staking program.
Step 2: Prepare Proof of Historical Holdings
- Collect Proof: Gather proof of your historical holdings of $CLAP tokens on Cardano.
- Submit Form: Fill out the dedicated form provided by erable° to submit your proof of historical holdings. The form will be live a few weeks after launch and we’ll start validating ownership on the go.
Step 3: Stake Tokens on token.erable.com
- Access Staking Platform: Go to token.erable.com.
- Stake Tokens: Stake at least 75% of your bridged $ERA tokens in the 1-year erable° staking program.
Step 4: Verification and First Distribution
- Verification: Erable° will verify the veracity of the information provided in your form and might ask for additional validation with a Cardano transaction.
- First Distribution: Once verified, the first tranche of the bonus will be distributed 4 months after the bridge is live.
Step 5: Claim Rewards
- Head to token.erable.com: Visit token.erable.com and connect with the wallet that is already staking $ERA tokens.
- Claim Rewards: After the verification and distribution process, you will be able to claim your rewards. Follow the instructions on the platform to claim your rewards.
Tips for a Smooth Claiming Process
- Keep Records: Maintain records of your $CLAP holdings and transactions during the ICO to facilitate the verification process. Keep a few ADA on your historical wallet to be able to prove ownership!
- Check Eligibility: Double-check the eligibility criteria and tranche schedule to ensure you qualify for the rewards.
- Stay Updated: Follow official announcements to stay informed about any updates or changes to the retro-active staking program.
Conclusion
The retro-active staking program for $CLAP holders is a fantastic opportunity to earn rewards for your past support and loyalty. By following this guide, you can easily verify your eligibility, stake your tokens, and claim your well-deserved rewards in the form of a 21% bonus distributed over a year.
Need Help?
If you have any questions, join our Discord community or email us at token@erable.com. We aim to respond within 48 hours on weekdays and 72 hours on weekends.