Frequently Asked Questions
To further strengthen the Hydra ecosystem and to allow our community to benefit from the High APR, GoMeat has introduced Hydra Staking Incentives or “Steaking” as our amazing community likes to call it.
All collected HYDRA will be staked and the rewards will be shared with Hydra investors in the form of GOMT tokens. How will the “steaking” work you asked? Here’s how:
- To reap the benefit of high APR:
o 100% of Hydra tokens collected during Pre-ICO and ICO will be vested for 1 year
o Incase Hydra constitutes over 70% of our total investments, any Hydra received over 70% of total investment will not be part of this staking.
2. The conversion of HYDRA reward into GOMT will be based on average rate at the date of expiry of 1 year term.
3. Hydra Staking will start with the launch of this incentive plan to the community –Target date: Aug 8, 2021
4. A Dashboard will be developed where investors can track the staking rewards and corresponding GOMTs
5. A Reserve of GOMT token is already created (10% of total GOMT) from ICO to fund this incentive for Hydra conversions.
6. Any additional GOMT Tokens needed to fund these incentives will be acquired from the market/exchanges.
7. People who have already made investments as of Aug 6 in non-Hydra token will also be able to participate based on avg Hydra value on the date of their investment. This will not be applicable for non-Hydra investments following Aug 6.
Here are some questions you asked:
1- How can I participate in the “steaking”?
Simply buy using Hydra! When you make your payments in Hydra, you’re automatically eligible for “Steaking”.
2- Are non-hydra payments eligible for reward incentive?
No, these incentives are exclusive for Hydra investors.
3- To steak or not to steak? How will this benefit me?
When you choose to “Steak”, you would have a singular wallet containing all collected hydra thus reaping higher rewards. You’ll receive extra GOMT at end of staking year. A job “well- done”.
4- Will my GOMT be locked up for the steaking year?
No, you are free to do as please. Only the rewards will be locked up and distributed at end of staking year.
5- How can I keep track of the rewards being generated?
We will be sharing a google-sheets dashboard soon where you’d be able to see the amount being staked and reward being generated.
6- How will the rewards be distributed amongst all investors?
The “Steaking” rewards will be distributed amongst all investors proportionally, based on the amount they invested and when it was staked.
7- How will rewards be distributed?
The rewards will be sent to our Steaking investors’ wallets at end of the staking term ie 1 year. 8- How will the price of Hydra and GOMT be calculated for reward distribution?
At the end of the staking term, price of Hydra and GOMT will decide the reward amount.
9- How much time do I have to take part in this offer?
You can participate only during the ICO. After the ICO, the offer will not be valid. Best time to buy is right now, as the earlier you steak, the more profit you receive at the end of the steaking term.
10- I had created an order before 6 august but never completed it. Can I still be eligible for steaking?
Yes! This offer is exclusive for those who had placed their orders on our dashboard but never completed their transactions. Quite a “rare” opportunity!
11- When will steaking begin?
We’re already Steaking! It has begun starting 8 August, 2021. We will be launching our tracking dashboard soon.
12- Does my personal Hydra get staked for GoMeat too?
No, any staking/Hydra in your personal wallet is irrespective of GOMT steaking. You can stake your hydra in your personal wallet but when it comes to “steaking” then no one does it better than GoMeat.
GoMeat steaking is irrespective of your hydra wallet. To be eligible for the rewards you just need to buy GOMT using hydra. Your rewards will be distributed at the end of the steaking year and calculated based on how much hydra you used to buy and the time ( earlier is better)!
13- Will additional Hydra investment not be eligible for staking rewards?
They are certainly eligible. 30% from the total pool will not be staked to support our funding plans. The remaining 70% will be staked and the rewards will be distributed proportionally amongst the buyers.
Steak art by our community member Azulene 😌