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# Staking

## Staking

Theopetra has two staking tranches, an "Unlocked Tranche", and a higher yield "1-Year Locked Tranche".
Unlocked Tranche
• 0x18Bba38a6F8427Ed2B65b5C6E9532CD80f93aFf4
THEO amount to stake = sTHEO sTHEO amount to unstake = THEO
Exchanges between THEO and sTHEO during staking and unstaking are always 1:1. During staking, the amount of THEO deposited in the staking contract's unlocked tranche will always result in the same amount of sTHEO. During unstaking, the amount of sTHEO unstaked will always result in the same amount of THEO.
1-year Locked Tranche
• <TO BE DEPLOYED 6 MONTHS POST-LAUNCH>
THEO amount to stake = pTHEO
The amount of THEO deposited in the staking contract's locked tranche will always result in the same amount of pTHEO.
$pTHEO \ amount\ to \ unstake^‡ = THEO$
‡ At or beyond the full staking Time Period. When unstaking pTHEO at or beyond the full Time Period – that is, 1 year after the stake was initially made – the amount of pTHEO unstaked will result in the same amount of THEO returned.
$pTHEO \ amount\ to\ unstake^¶ = (Principal \ Deposit - Penalty)THEO$
¶Before the full staking Time Period.
When unstaking pTHEO before the full Time Period, all staking rewards are slashed. The amount of THEO returned is the Principle Deposit amount minus a Penalty, which is determined according to the Table below, depending on the percentage of time into the Time Period.
Reward rates
The reward rate for staking is variable, based on the APYVariable as follows:
$APY_{Variable}= APY_{Fixed} + SC_{RS} + SC_{YS}$
$SC_{RS} = D_{RS}ΔtokenPrice$
$SC_{YS} = D_{YS}ΔtreasuryYield$
Where
$D_{RS}$
is a discount rate applied to the fluctuation of the token price (ΔtokenPrice; the difference in token price between time intervals of 8 hours), as a percentage.
$D_{YS}$
is the discount rate applied to ΔtreasuryYield, as a percentage. ΔtreasuryYield is the fluctuation of the treasury yield, measured in arrears from the prior month.
$D_{YS}$
is set manually and can be updated.
$APY_{Fixed}$
is the starting point for each tranche will unwind over time, eventually settling to a final value.
$APY_{Variable}$
is capped by a Max Percentage. The Starting Percentage, Max Percentage, and wind down structure for the staking tranches are shown in the table below.
Year
Starting Percentage, Locked Tranche
Max Percentage, Locked Tranche
Starting Percentage, Unlocked Tranche
Max Percentage, Unlocked Tranche
1
12%
18%
4%
6%
2
10.5%
15.75%
3.5%
5.25%
3
9%
13.5%
3%
4.5%
4
7.5%
11.25%
2.5%
3.75%
5
6%
9%
2%
3%
The reward rate (r) for the next 8-hour performance-update period is calculated using APYVariable as follows:
$r = ne^{1/n \ ln(APY_{variable} + 1)} - n$

### StakingDistributor

The StakingDistributor distributes epoch rewards, at a given Reward Rate, to the staking contracts.
• <TO BE DEPLOYED 6 MONTHS POST-LAUNCH>