💸$HOLY Volume Rewards
$HOLY Volume Rewards
There are two contracts for two different Volume Rewards paid out to eligible users. In this document it's all about the $HOLY Volume Rewards. You can find all related Details for the $SOL Volume Rewards here. Details to the $HOLY Volume reward calculation below
Total $HOLY Volume Rewards:
There will be max 5 Million $HOLY tokens available for $HOLY volume rewards. Distributed on Daily basis. Max $HOLY Volume Rewards per Day: There will be a daily maximum of 1,20% / 2000 $HOLY reward available for payout on daily basis.
Max $HOLY Volume Rewards per month:
The monthly maximum $HOLY rewards paid out will be 60’000 $HOLY Note: Tokens, leftover from $HOLY Volume Rewards distribution, will be burned on daily basis, more details in section “Burning”.
Who is eligible for $HOLY Volume Rewards?
To be eligible for getting volume rewards the users need to fulfill these two conditions.
To receive volume rewards the user needs to have a min. staking position of 5 $HOLY. The Individual user staked amount is needed for $HOLY volume rewards calculation and distribution.
To be eligible for $HOLY token Volume rewards user have traded at least one NFT per day on HolyGrails marketplace.
Note: If one of them is not fulfilled, user is not eligible for receiving $HOLY volume rewards!
How the $HOLY Volume Rewards are calculated?
The Calculation for the individual $HOLY Volume Reward is based on the total NFT trading volume (fees generated) on HolyGrails marketplace and as well, the individual total and cumulated staking amount for this individual user. So there are two things based for calculation:
The inidividual Trading Volume is a component for users individual $SOL reward. How much this specific user have traded (Volume) compaired to all other users.
The individual staking amount is an individual component of how much each user will receive at the end from the Volume Rewards.
These two factors above are taken for doing the calculation of the individual volume rewards for each user.
Rewards are calculated every day at UTC midnight
Parameters for Volume Rewards Individual staking factor is between 0,1 and 1 of volume rewards:
Maximum staking factor of 1: user stakes 5000 $HOLY or more (Staking max is 40’000 $HOLY)
Minimum factor of 0,1: user stakes a minimum 5 HOLY tokens (Staking min is 5 $HOLY)
Formula for that is:
The Staking Factor 1 is: 100% The Staking Factor 0.1 is: 10%
Multiple $HOLY stakings from same user:
A multiple staking from the same user (user are related to wallet address), should count cumulative to be eligible for $HOLY volume rewards. That means if I stake first 2000 $HOLY token and later again some 3000 $HOLY token more, then this will be accoumulated to a total of 5000 $HOLY Token. Thus the user gets a Volume Reward calculated on the Staking Factor of 1. This is because as mentioned above, users with 5000 $HOLY staked or more are eligible to get highest volume rewards, thus Staking Factor 1.
Example: Of $HOLY Volume rewards distribution:
4 users trade at the same volume of 100 $SOL in one day. That would be 400 $SOL. If you now assume a factor of 1, the maximum distribution of $HOLY tokens would be 2000 on this day. If we now assume that the staking amount for a maximum factor of 1 is 1000 $HOLY and for a minimum factor of 0.1 is 5 $HOLY tokens, then each user would have to have staked 1000 $HOLY to get a maximum of 500 $HOLY (2000 $HOLY / 4 user = 500 $HOLY) on that day. If a user has now only 1000 $HOLY staked, then this user only gets about half, that is 250 $HOLY. The part of $HOLY tokens that is not distributed will be burned.
Claiming and Payout of $HOLY Volume Rewards
Users are able to claim their earned volume rewards everytime, we suggest to do it daily. In case the user is not claiming daily it will be accumulated and user is able to claim the $HOLY tokens any time later.
$HOLY Token Burning
To avoid wash trading and too much inflation of $HOLY token, there are several mechanism implemented one of the is the $HOLY token burning. All leftover Tokens from $HOLY Volume Rewards distribution (Max 2000 $HOLY per das) not distributed to users will be burned. In long term the $HOLY Burning mechanism will be 100% fully automated All users are able to track the Burning of $HOLY tokens in the statistics of the Rewards page.
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