On the last day of launch on day 351, any active stakes will receive the Big Pay Day. The Big Pay Day is paid out like every other daily interest, the only difference being the sum will be much larger from bonuses. The percentage of total coins staked will also influence the price.
As the percentage of total coins staked increases, the Big Pay Day bonus will decrease. As the Staked Coin percentage decreases, the Big Pay Day bonus will increase.
You can see if your stake meets the requirement to receive the Big Pay Day bonus on the right on the go.hex.com. This number will change leading up to day 351, so keep an eye on it on the staking page under “Active Stakes”.
Big Pay Day Payout
Each day, the contract calculates the total amount of BTC, then subtracts out the Hex free-claimed BTC. For example, let’s say there is a 20M bitcoins total.
At the end of the first day, 50% of the possible free claims have been made, meaning 10M bitcoins are left unclaimed. Once that number is determined, 0.2857% (1/possible claim days) of it is then taken out and added to the “Unclaimed BTC Payout Bucket”. In this example, 28,570 bitcoins are taken from the 10M pool and placed in the bucket.
The next day, assuming no more claims, another 28,570 bitcoins is taken out and added to the bucket. This continues for the entire launch phase, and the unclaimed bitcoins keep adding to the same Unclaimed BTC Payout Bucket
Claim size is reduced at the same rate as coins are marked “unclaimed” so everything scales appropriately. For example, if an address has 100 BTC and doesn’t claim for 35 days, they would only get 90 BTC worth of HEX once they free claim. The other 10 BTC worth of free-claimed has moved to the Unclaimed BTC Payout Bucket. This follows the same forumla as above, applying a 10 percent penalty to this free claim example (35 days * .002857)
After the claim phase ends, 352 days after contract launch, the total accumulative “Unclaimed BTC Payout Bucket” is paid to stakers. This is the “Payout” Portion of the Big Pay Day bonus. The final total of your bonus includes the bonus multipliers explained below.
There are 2 additional bonuses that impact the Big Pay Day bonus. The more free BTC-claims that occur, the bigger these multipliers take affect! Critical Mass is a bonus applied to the payout pool equal to coins claimed / total possible coins. Virality is similar but for bitcoin addresses, as it is the number of eligible addresses claimed / total eligible addresses.
- Assume there are 17,500,000 total claimable bitcoins and 13,125,000 have been claimed
- Using the blue equation above, the Critical Mass Bonus is 75%
- Assume there are 20,000,000 total bitcoin addresses, and 12,000,000 have claimed
- Using the green equation above, the Virality Bonus is 60%
- The bonuses are additive, meaning calculated separately and both added to the payout
- Big Pay Day = (Payout * (1 + .75 + .60))
- The Payout in the above equation is equal to the “Unclaimed BTC Payout Bucket”
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