Starting on October 4, 2022 OMC holders will be able to stake their OMC from the omchain web app to earn 150% APY on the staked OMC. The super stake program will last for 7 days and the tokens will be unstakeable on October 11th.
What is super stake?
Super stake program aims to distribute staking rewards to the OMC token holders with high yield, thus incentivizing users to hold OMC in their wallets, rather than exchange wallets. This way we aim to create awareness for our blockchain bridge and blockchain infrastructure.
When will it start?
Super stake program starts on October 4, 2022 at UTC 13:00 and it will last for 7 days. Users will be able to join the super stake program at the exact starting time through the omchain web app. Unlike regular staking, super staking’s stake panel will be on the homepage of the web app.
How do I participate?
If you are an OMC token holder on an exchange, withdraw your funds from the crypto exchange if you haven’t withdrawn already. Then use the omchain bridge to transfer your funds from BSC network to omchain. After that, visit https://app.omchain.io on October 4th, UTC 13:00 and connect your wallet. You will be able to stake your OMC for one week to receive yield with 150% APY rate.
What are the terms & conditions?
Super staking will be held on the omchain network through a smart contract specifically deployed on the network for this event. Unlike regular staking contract, a user cannot join the program more than once with the same wallet address.
All OMC tokens staked through the super stake program will be locked till October 11, UTC 13:00. After the lock period, users can unstake their OMC with acquired rewards. Once unstaked, there is 24 hour cooldown period where funds cannot be withdrawn by the user.
After the cooldown period, users will be able to withdraw OMC from the contract with their acquired reward and initially staked OMC.
Please keep in mind, unlike regular staking, stakes made on the super staking contract cannot be cancelled even with a penalty. Any funds staked will be locked till 11th of October, and will be subjected to 24 hours cooldown period.
I already staked my OMC on the existing staking program, how do I participate in this event?
If you have already staked your OMC through our staking program, your existing stake rewards won’t be affected. Our current staking APY is roughly 37% and you will receive remaining 113% APY rewards during the event’s duration as an airdrop reward after the super stake ends. Airdropped tokens won’t be subjected to cool down period and they could be used right away.
