IBEX Staking
Users can stake IBEX to earn rewards from interest payment fees paid to the protocol.
Last updated
Users can stake IBEX to earn rewards from interest payment fees paid to the protocol.
Last updated
Impermax is a profit generator. Up to 20% of all the interest paid on Impermax is kept by the protocol as profit. The IBEX token gives the right of ownership of the Impermax protocol, and for this reason IBEX holders benefit from the Impermax revenue stream. Protocol profits are used to buy IBEX from the market, creating buying pressure, and these IBEX are then distributed to holders through IBEX Staking.
You can start staking by navigating to the staking section of the Impermax app. The staking process is immediate and you can stake and unstake your IBEX at any time. By staking IBEX you will obtain xIBEX, a fully composable ERC20 token representing your share of the staking pool. Staking rewards are automatically compounded to your IBEX balance. Please notice that IBEX Staking is initially available only on Ethereum mainnet.
Staking is implemented through two smart contracts.
The main smart contract, the staking pool (or xIBEX), is an ERC20 contract where users can stake and unstake their IBEX. By staking they will receive a number of xIBEX tokens representing their share of the staking pool. They can redeem these xIBEX at any time for the undeIBEXrlying tokens. Whenever some IBEX are sent to the staking pool they are split among all IBEX stakers according to their share of the staking pool.
The second smart contract is the reserves distributor. This contract holds all the IBEX bought back from the market and distributes these IBEX to the staking pool at the distribution rate. This rate is computationally defined and set to distribute all the IBEX held by the contract in 90 days. The distribution rate is updated every time the IBEX balance of the contract changes. Therefore, this contract will act as a buffer that always sees an outflow of IBEX that will be distributed to stakers, and an inflow of IBEX bought back from the market. This property will ensure that the distribution rate will be stable with time, and that there won’t be drastic changes to it on a daily basis.
xIBEX Ethereum address:
0x363B2DEaC84F0100d63C7427335F8350f596bf59
Reserves Distributor Ethereum address:
0xa6f3c27f1b503221f3a3c9d34f587252ecfb3160
