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Introduction

Requirements​

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  • Keplr or Cosmostation browser extensions
  • One or multiple wallets staking on High Stakes 🇨🇭 validators on the eligible chains

The IBEX Program​

With the IBEX Program, High Stakes' delegators have an opportunity to boost their staking rewards by earning a share of the yield of our validators (over all chains).

This amount is distributed to the registered users, prorated to the overall USD value of the tokens they stake on any of the eligible validators operated by High Stakes.

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  • Users earn IBEX loyalty points that are accrued each day, and can redeem them against ATOM with 2 use cases :
    • If they hold at least 250 IBEX, the redeem is immediate.
    • If they hold at least 50 IBEX, the redeem is asynchronous and the corresponding ATOMs will be sent along other redeem operations in a multisend transaction as soon as their total reaches 250 IBEX.
  • The current conversion rate is 1000 IBEX = 1 ATOM.

How it works​

Participants can register by connecting a wallet (either through Cosmostation or Keplr, more integrations to come), and are identified by the Cosmos Network address associated with this account.

They can afterwards activate any available network: the staked amount will be picked up and used to calculate their IBEX allocation. All delegators can register, however, they can start earning IBEX points only if they stake overall at least $500.

Each day, the IBEX points earned will be calculated and allocated; their amount will vary based on the changes in the user's delegations, exchange rates, and other participants. A quadratic function is used to ensure that "whales" do not earn a disproportionate amount of the daily available IBEX.

When participants redeem their IBEX points, the corresponding ATOM amount is transferred to the Cosmos wallet associated with their account.

Important note: IBEX points have a "shelf life" of 60 days, which means that if a user does not redeem points awarded more than 60 days ago, he loses them. This rule applies only when there are more than 500 IBEX available for redeem in a user account. Below this amount, they will never expire. Therefore, users should ensure that they redeem their IBEX at least every 2 months.

Multiple wallets support​

For security reasons, most of us have different wallets and seed phrases for our different tokens.

If a user delegates the following amounts:

  • 400 USD worth of ATOM from an account,
  • 300 USD worth of INJ from another,
  • 100 USD worth of BAND from yet another,

He will register each of these accounts but none of them will be eligible to earn IBEX since their individual staked value is below $500.

The participants have the opportunity to link their different registered accounts, in which case, the value of the delegations from the different accounts will be summed up.

In the above example, the user will be staking 400+300+100 = 800 USD worth of tokens, and will receive his daily share of IBEX points.

Head to the appropriate section to learn how to proceed.

Rewarding the long-term stakers​

Each year in December, a variable amount of ATOMs will be distributed to all the participants, prorated to the IBEX points they earned over the past year, and the number of days they delegated to High Stakes.

The allocated amount of ATOMs will depend on the overall financial results of the company and global market trends, but we will ensure that those who have been loyal to us receive a reward that matches our gratefulness.