Staking Lock and Withdraw

Discover how Zenit's Staking service allows users to earn rewards by participating in the network's consensus mechanism.

Staking Lock and Withdraw

sZEN is ZEN locked in Staking Protocol. This is the mechanism of locking tokens for relatively long pre-defined time periods. On staking ZEN, the staker receives non-tranferrable tokens sZEN.

The sZEN balance will depend on the amount of ZEN tokens locked and the user's chosen lockup period. Stakers can lock their tokens for a maximum of 4 years or a minimum of 30 days.

A higher lockup period means a higher sZEN balance for the same amount of ZEN staked.

sZENā€…value=ZENā€…tokenā€…stakedāˆ—(lockupā€…periodā€…inā€…days365)sZEN\:value = ZEN\:token\:staked*(\frac{lockup\:period\:in\:days}{365})

sZEN balance will decay linearly with time. At the end of the lockup period, sZEN balance will reduce to 0.

The below table shows how the sZEN is determined based on the lockup period.

Lockup PeriodZENsZEN

4 year

1

4

3 year

1

3

2 year

1

2

1 year

1

1

6 month

1

0.5

Withdrawing

The tokens will be available immediately after the lock period, but they will not bring any more rewards post-expiry.

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