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Staking Tokens

User can Stake on StakeEasy using their SCRT or SSCRT coins and gets a liquidity token seSCRT.​

To stake SCRT with StakeEasy user calls Stake SCRT. It transfers SCRT/SSCRT coins from users wallet to contract. Now,

When User deposits SCRT in the contracts​

When user stake (deposit) SCRT coins in the stake-easy contract, it triggers try_stake function of the contract -

  • try_stake function fetches exchange rate from exchange_rate function and calculates seSCRT token amount that user will get and then sends mint message to the token_contract which is a snip-20 token contract and it will mint the seSCRT token amount in the user's wallet.

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When User deposits SSCRT in the contracts​

When user deposit SSCRT coins in the stake-easy contract, Receive call automatically gets triggered and it triggers try_withdraw function of the contract -

  • try_withdraw function after receiving SSCRT coins fetch exchange rate from exchange_rate function and calculates seSCRT token amount that user will get and then sends mint message to the token_contract and it will mint the seSCRT token amount in the user's wallet.

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Exchange rate​

Exchange_rate function calculates

  • total seSCRT tokens in the supply and
  • total on chain SCRT balance along with rewards (deposited SCRT in contract + rewards accumulated from validators)
  • returns ratio of total sescrt to total on chain SCRT.

Stake from Contract to the validators - Claim_and_stake call​

  • After users deposit in the contract -

    • Contract manager or user calls ClaimAndStake which triggers claim_and_stake function.

    • claim_and_stake function collects -

      • the rewards accumulated to the validators and
      • new deposits in the contract

and stake the collected amount to the validators.

claim_and_stake is called every 8 hours to delegate the accumulated rewards and this way users get rid of staking their rewards again and again.

Staking is done in such a way that keeps difference between staked amount on each validators minimum.