Holder guide
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Management History: Look up the latest reward distribution statistics.
Network Select: Change the blockchain network between Fantom and Ethereum.
Wallet Balance: Display account and USDC/wPOKT balance.
Protocol Statistics: Show relevant protocol data.
Claim Rate Section: Display and update claim rate.
Holder Info Section: Show relevant holder data.
Management Section: Manage rewards and sell shares.
Sweep / Sell Switch: Toggle between reward sweep and sell shares.
Buy Shares Section: Purchase protocol shares.
Links Section: Access useful protocol links.
Buy Shares
Shares are the investment unit that holders own and are registered in the contract's state.
A protocol share is pegged to a certain amount of POKT, mapped by the Pokt Per Share (PPS) value.
Shares can be purchased from Fantom Network using USDC, or from Ethereum using wPOKT.
New holders will start generating rewards when a new epoch starts to ensure fairness to other holders.
Buy Shares with wPOKT
Get wPOKT on Ethereum.
Connect your wallet to SafePOKT website (Metamask, WalletConnect or CoinBase).
Switch your wallet network to Ethereum.
[Only for the first time] Click "Approve" button on Buy Shares section in order to allow wPOKT to be bridged by wPOKT contract.
Introduce the amount of Shares to be purchased and click on "Buy Shares".
Shares will be automatically displayed once wPOKT bridge to Pocket Network is confirmed and the contract has verified the transaction (it can take a few hours).
Finally, get 1 or 2 FTM on Fantom to manage your investment.
The number of shares equivalent to X wPOKT is equal to X divided by the POKT Per Share (PPS) value. This can be expressed as:
Received shares = wPOKT / PPS
Buy Shares with USDC
Get USDC on Fantom (note that the USDC used by SafePOKT contract is the one operated by Stargate: 0x28a92dde19d9989f39a49905d7c9c2fac7799bdf).
Connect your wallet to SafePOKT website (Metamask, WalletConnect or CoinBase).
Switch your wallet network to Fantom.
[Only for the first time] Click "Approve" button on Buy Shares section in order to allow USDC to be transferred to SafePOKT contract.
Introduce the amount of Shares to be purchased and click on "Buy Shares".
Finally, get 1 or 2 FTM on Fantom to manage your investment.
The number of shares equivalent to X USDC is equal to X multiplied by the price of POKT and divided by the POKT Per Share (PPS) value. This can be expressed as:
Received shares = USDC * PricePOKT / PPS
Note that the POKT price tends to be a little higher than market rate due to price fluctuations.
Buy Shares On Demand
The key difference is that shares are not delivered right after the buy transaction. Shares are delivered within a 24-48 hour period, once the USDC is converted to POKT.
The main benefit of this method is that the share price is computed using the exact POKT price at which the conversion is made. However, a minimum amount of USDC is required to purchase shares this way.
To buy shares on demand, follow the same steps as in Buy Shares with USDC, but make sure that the "On Demand" toggle is enabled.
Reward Management
Holders can perform many different investment management actions: claim Rewards as USDC, compound POKT Rewards for new Shares and sweep POKT Rewards for USDC.
Holder actions regarding Reward Management are detailed below.
Change Claim Rate
The Claim Rate is a percentage that lets the holder decide which portion of total holder rewards will be claimable as USDC at the end of each epoch. The remaining rewards will be accumulated as POKT in the Pocket Network (see Compound/Sweep holder actions to manage POKT rewards).
Example:
Assuming the holder's Claim Rate is set to 30%, from each reward distribution, 30% of the holder rewards will be converted to USDC and 70% will remain in POKT in the Pocket Network.
Claim Rewards
Rewards from previous epochs can be claimed in USDC by clicking on "Claim Rewards" in the Management Section.
Rewards can be claimed once per epoch. When claiming rewards, all accumulated USDC will be transferred to the holder.
Note: If a Sweep is pending to be claimed, the Sweep USDC value will be added to the holder's claimable USDC balance.
Compound POKT Rewards
POKT rewards can be restaked into nodes in exchange for new Shares for the holder, according to the POKT Per Share (PPS) value. This can be expressed as:
NewShares = POKTRewards / PPS
To compound POKT Rewards, simply click on "Stake All" button and complete the FTM transaction. New shares will be automatically added to the holder.
Sweep POKT Rewards
POKT rewards can be swept anytime in order to convert them to USDC and become claimable by the holder.
This action allows holders to take advantage of POKT price trends. Note that the conversion between POKT and USDC will be executed at the end of the current epoch and will be added to the holder's claimable USDC balance.
The holder can choose the amount of POKT rewards to be swept.
These are the steps to Sweep POKT to USDC:
Introduce the amount of POKT to be swept in the "Sweep Rewards" input. Note that it can not exceed the displayed POKT Rewards.
Click on "Sweep Order" and confirm the FTM transaction.
The sweep will appear as pending in "Current Sweeps" until the end of the epoch.
Once a new epoch starts, the sweep will appear as claimable, and holder can claim the USDC corresponding to the swept POKT value by clicking on "Claim Rewards".
Sell Shares
In the sell process, the holder will receive wPOKT in Ethereum Network computed as the product of the shares sold and the Pokt Per Share (PPS) value. This can be expressed as:
Received wPOKT = SoldShares * PPS
Nevertheless, the Pocket Network imposes an unstake cooldown period of 21 days. Therefore, once a sell process is started, it will take around 4 weeks until the wPOKT is received by the holder.
The protocol only allows one active sell process per holder, wich means that in order to start a new sell, the previous one must be finished.
Switch your wallet network to Fantom.
Toggle the Sweep/Sell switch in the Management Section.
Create a new sell order with the amount of shares to be sold.
Wait for the cooldown period imposed by the Pocket Network to complete (4 weeks).
Switch your wallet network to Ethereum.
Click on "Receive wPOKT" and make the mint transaction (wPOKT will be delivered).
Switch your wallet network to Fantom.
Run the final transaction to confirm the wPOKT has been claimed (this will finish the sell process and allow a new one to be started).
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