Staking

sQUARTZ & Multiplier Points

Deposit Quartz for sQuartz and over time claim performance fees from Sandclock yield strategies.

Additionally receive bonus multiplier points (inspired by GMX reward mechanism) at 100% APR which can be compounded in order to claim a bigger portion of the staking rewards.

Time-decaying Tax & Unstaking Tax

We all know taxes impede the free market but they can have their uses.

This mechanism, heavily inspired by Will Comyns and the IRS, aims to encourage long term holding at the expense of short term holders, similar to how long term capital gains incur a lower tax rate, and short term capital gains count as ordinary income.

To accomplish the goals outlined above, redeeming sQUARTZ for QUARTZ will incur a tax penalty, with the goal of rewarding long term holders, and dampening volatility during market sell-offs.

This tax starts at its maximum and decays over time until it reaches ~0%.

The tax will start at 10% and will fall linearly to 0% over the span of 30 days.

Analyzing the behavior of a staker, one will unstake when revenue has fallen.

The share of taxed tokens that are redistributed to those who remained staked increases their share and reduces their loss, while simultaneously decreasing the amount of tokens that get sold on the open market. At the same time, the remaining proportion of non-distributed tokens return to the treasury to be reinvested by the DAO.

How they are reinvested will be determined by the DAO.

Multiplier Points

Multiplier Points rewards long term holders without inflation.

When you stake QUARTZ, you receive Multiplier Points every second at a fixed rate of 100% APR.

10 QUARTZ staked for a year would earn you 10 Multiplier Points.

Rewards

wETH rewards will be distribute to the QUARTZ stakers.