Metabonding is a new product from Elrond.
Its purpose is to allow projects building on the Elrond blockchain an opportunity to promote themselves and have as many holders of their coins as possible.
Metabonding will allow us as users to receive a share of every project that joins if we meet certain eligibility criteria.
10% of the market cap of these projects will be allocated to Metabonding, and this 10% will be divided equally between those who stake $EGLD and those who stake $LKMEX.
A smart contract will figure out who is or not it is eligible to earn from Metabonding.
There will be daily snapshots.
These snapshots are looking for delegated $EGLD or staked $LKMEX into the Metabonding section from Maiar Exchange.
How will work the $EGLD snapshot?
There will be daily snapshots, and then the average of the last seven days will be used to determine how many rewards you will get in that week.
Eligible:
- $EGLD delegated to a staking provider
- $EGLD actively delegated in "Delegate (Legacy)"
- $EGLD staked as a Validator
Not Eligible:
- $EGLD in the "Delegate (Legacy)" waiting list
- $EGLD provided as liquidity on the Maiar DEX
- $EGLD on exchanges or freely available (not staked) in any wallet
How will work the $LKMEX snapshot?
There will be daily snapshots, just like in the $EGLD case.
But it will look at the staked $LKMEX from the Metabonding section.
The average of the last seven days will be used to determine how many rewards you will get in that week.
When you unstake $LKMEX from Metabonding, it will take around 48 to 72 hours before it will be usable again for anything else.
This period will not count when your rewards are calculated.
Eligible:
- $LKMEX deposited in Metabonding
Not Eligible:
- $LKMEX staked in the MEX Farm
- $LKMEX deposited as liquidity in EGLD/MEX
- Freely available $LKMEX
- $LKMEX unbonding after being withdrawn from Metabonding
With the $EGLD from Metabonding you will get extra rewards, the APR that shows in your wallet, because your $EGLD remains a staked or delegated.
But for $LKMEX, the only reward will be these Metabonding tokens and what else will show up here later.
You'll be able to claim the coins of all participating projects proportional to your $EGLD or staked $LKMEX.
Every seven days, you will be able to make a new claim.
From what I understand, we can enter or exit anytime, and the proportion of coins we receive is calculated using the average of the previous seven days.
There is a 4-week time limit for claiming rewards.
Metabonding earnings will vary depending on the number of projects in the program and the cost of each coin.
The Elrond community created:
DYOR
Not financial advice
