Frequently Asked Questions
To further strengthen the Hydra ecosystem and to allow our community to benefit from the High APR, GoMeat introduced Hydra Staking Incentives. All collected Hydra are being staked and the rewards will be shared with Hydra investors in the form of GOMT tokens. Here’s how the staking works:
1.To reap the benefit of high APR:
o 100% of Hydra tokens collected during Pre-ICO and ICO are being vested for 1 year.
o In case Hydra constitutes over 70% of our total investments, any Hydra received over 70% of the total investment will not be part of this staking.
2. The conversion of the Hydra reward into GOMT will be based on the average rate at the date of expiry of the 1-year term.
3. Hydra Staking started with the launch of this incentive plan to the community — i.e Aug 8, 2021
4. A Reserve of GOMT token is already created (10% of total GOMT) from ICO to fund this incentive for Hydra conversions.
5. Any additional GOMT Tokens needed to fund these incentives will be acquired from the market/exchanges.
6. Investments made before Aug 6 in non-Hydra tokens have also been included based on the average Hydra value on the date of investment. ( not applicable for non-Hydra investments following Aug 6)
Staking Reward Dashboard has been developed where investors can track the staking rewards and corresponding GOMT. Users can access it by logging in to their accounts.
Frequently Asked Questions
Here is a list of some common questions to help out with any queries you may have. For further questions feel free to reach us out in our telegram group: https://t.me/GoMeatToken or send us an email at email@example.com.
How can I access the staking rewards?
- You can view your share of the staking rewards by simply signing in at: https://gomeat.io/icopanel/. Click on “Staking Rewards” in the top menu bar and you will be able to see your share of the staking rewards.
How are the staking reward shares calculated?
- The staking rewards are calculated based on the following two factors:
- Percentage of your investment in the overall hydra pool. Therefore, the more hydra you invest the higher your percentage is. It is calculated using the following formula:
% Contribution = individual contribution / Total Contribution in Hydra
- How early you invested. The longer your investment stakes, the bigger your stake reward will be. Based on these two factors: your reward share is calculated by the following formula:
Share in Hydra Staking = % contribution * Hydra Reward
How does an early investment affect my reward share?
- Differences in staking reward based on the duration of investment have been explained in the example below:
How is the “percentage of investment in the overall hydra pool” diffferent from the “amount of hydra” I invested?
- The staking rewards are distributed proportionately to your investment in the Hydra pool, not based on the amount of investment. This has been elaborated in the example below:
Is the currently estimated reward for the week, month, or year?
- The reward you can currently see on the dashboard is from the date of your investment till 9 October 2021.
Is it a real-time dashboard? How often is it updated?
- The dashboard is not real-time, it is updated bi-weekly. The next update will be on 15 October 2021 followed by the next one on 31 October 2021.
What price of GOMT/Hydra is being used?
- As per the rules, the final rewards will be distributed based on the price of Hydra/GOMT on 7 August 2022. Thus till we reach the end of the staking year, the dashboard will use the latest price of GOMT/Hydra upon the time of its update. E.g. From 9 October till 15 October 2021, it will show the rewards calculated based on the price of Hydra/GOMT on 9 October. The price of GOMT is $1.15 during this period which is being reflected in the rewards. The rewards being displayed currently are only estimates to help track progress. Hydra prices are calibrated from CoinMarketCap.
I had invested in non-hydra before 8 august, how is my share being calculated?
- As per the Hydra Incentive, all non-Hydra investments that came in before 8 August 2021 have also been included in the staking rewards. The invested amount of hydra counterpart is calculated based on the rate of the Hydra on the day of the investment. Once their Hydra investment amount is known then their reward share is calculated as explained above.
I think my reward share is incorrect. Who do I contact?
- Reward shares have been calculated for each transaction and can vary based on investment duration and the percentage of that investment in the overall pool. Unless your transaction amount is incorrect, your reward share should be according to the formula stated above. Please note that these numbers are only estimated to help the buyers keep track of the progress so do not be alarmed if it is slightly different from what you expected. If you believe there is a genuine error then you can send an email to firstname.lastname@example.org and our team will get back to you.