The protocol

SafePOKT protocol is built with utility being our top-notch priority. Our team's vision has always been to offer a seamless experience to the investor regarding earning Pocket Network Node rewards.

Protocol Overview

SafePOKT protocol diagram

SafePOKT is composed of a set of methods that enable full functionality for holders to manage POKT investments directly from popular wallets such as Metamask.

The protocol is managed by an operator account that is responsible for converting holder investments to POKT, staking and managing Pocket Network Nodes, and distributing the epoch rewards.

SafePOKT is deployed using a smart contract on Fantom Network, which enables holder actions and protocol management. Shares are the investment unit that holders own and are registered in the contract's state. Thus, protocol shares are not implemented using a custom token, avoiding the inherent risks associated with protocols based on their own token. SafePOKT operates with USDC on Fantom, wPOKT on Ethereum, and POKT on the Pocket Network (shares map the relation between these standardized tokens).

The protocol automatically distributes epoch rewards to holders upon epoch completion. Each epoch lasts approximately one month. However, epoch duration can be adjusted in the future to satisfy protocol needs.

Reward Distribution

At the end of each epoch, the protocol will execute a reward distribution.

At this point, several things will happen, and the final result will be an injection of the USDC epoch rewards into the contract, becoming claimable by holders.

During the reward distribution, the following events take place:

1. Holder actions are temporarily disabled to avoid changes in the contract state during rewards computation.

2. POKT generated by nodes during the epoch is converted to USDC and bridged to Fantom.

3. The operator account deposits epoch USDC into the SafePOKT contract and starts a new epoch.

4. Holder actions are enabled and all epoch rewards become available for holders to claim/manage.

The Reward Distribution process takes place on the last day of an epoch and takes approximately 2 hours. Detailed epoch statistics are published on Discord.

Roadmap

As of Q2 2024, the SafePOKT protocol is fully functional with all previous roadmap functionalities implemented.

Nevertheless, we are always working to improve user experience and we will adapt to future Pocket Network ecosystem features.

Community Proposals

Community is everything to us, so we may include features suggested directly from our community. Feel free to join our Discord and tell us more about your experience!