Staking is here! For both ORCA and Collectibles!

Published on: 28.09.2021

Staking is now live on ORCA, the most user-friendly cryptocurrency exchange on the Solana blockchain.

Head over and deposit your tokens now at orca.so/staking or one of your Collectibles to earn $ORCA rewards!

What is staking?

If you’re new to DeFi, the whole concept of staking can be confusing, so let’s take a moment to explain. For a limited time, you’ll be able to deposit tokens in a Staking Pool to earn $ORCA rewards from the Treasury. (As a reminder, 0.04% of each trade on Orca goes to the Treasury!)

Like Aquafarms, rewards are proportional to the amount you’ve deposited relative to everyone else in the pool.

Unlike Aquafarms, you only have to deposit one type of token, so there’s no risk of impermanent loss — just simple, easy-to-love yields!

Orca, pride itself on being a community-driven protocol. Staking is their first experiment with using the Orca Treasury to offer loyal token holders (and Collectible-holders) tangible rewards in the form of $ORCA. After a few weeks, they will evaluate whether to continue the Staking Program or explore other ways to reward the community. Read on or watch the tutorial below to learn how!

https://youtu.be/wZ5j_X3riiI

$ORCA Staking

You can now deposit it into the brand-new $ORCA Staking Pool to start reaping the rewards!

The total rewards for the 2-week period from September 28 to October 12 will be 65,000 $ORCA. Rewards will then be adjusted approximately every 2 weeks after that, on the same schedule as Aquafarms.

Collectible Staking

For the duration of Fall Festival only, there will be a Staking Pool for every Collectible! That’s right — from September 28 to October 11, you’ll be able to deposit your Collectibles to earn a share of the following rewards:

(listed as COLLECTIBLE NAME: [total rewards per pool] — [estimated return per token], if every distributed token is deposited for the full 2 weeks and the price of $ORCA is $15 USD)

GUPPY: 52,500 $ORCA — $80
STARFISH: 3,000 $ORCA — $25
CLOWNFISH: 20,000 $ORCA — $215
PORPOISE: 20,000 $ORCA — $300
WHALE: 10,000 $ORCA — $3,000
KILLER WHALE: 500 $ORCA — $7,500

These amounts were chosen based on the rarity and circulating supply of each Collectible, which can be found at orca.so/collectibles. For more information about these fishy friends, including how they were originally earned, check out our Collectible History doc!

Because you’re a curious pod — some FAQs:

Where do the rewards come from?
The ORCA Treasury! 0.04% of every trade on ORCA goes to the ORCA Treasury. From the ORCA Tokenomics post:

“The Orca Treasury is a DAO that ties the value of the ORCA token to Orca itself. The accumulated fees may be used to fund development, manage the token supply through buy-backs, or other initiatives that support the long-term health of the Orca protocol.”

Why is this a limited-time campaign?
Treasury funds aren’t unlimited, and neither is the creativity of our team and community! Like all features on Orca, we’ll observe how you use the feature, conduct user research, and listen to your feedback in our channels to decide whether staking is the best way to reward our community going forward.

Can I deposit more than one Collectible per pool?
There will be a reward pool for every Collectible, and you can participate in all of them! Plus, you can deposit multiple Collectibles per pool, so if you have 10 GUPPY, you can deposit all 10 to earn 10x the rewards compared to depositing 1 GUPPY.

Should I stake ORCA or provide liquidity on ORCA pools?
The yields on our Staking Pools are deliberately designed to be lower than the ORCA/SOL and ORCA/USDC Aquafarms. This incentivizes users to provide liquidity to our pools, which leads to better rates for traders — all part of a healthy marine ecosystem!