Automatic vs. Standard

There are two options to stake WIGO and earn WIGO; Automatic and Standard. Both options allow you to stake WIGO and earn more WIGO tokens. However, there are some differences in the way they work.

Standard Staking

  • Using this option, users have to claim their earned rewards and restake their rewards (albeit if they decide to do so) in the WigoBank all by themselves. This means the process is not done automatically.
  • The interest generated through staking is shown as the APR, and it is worth noting that it doesn’t consider compounding.
  • By staking through this method, WigoBank (xWIGO) Tokens are deposited into your wallet. You must return your xWIGO to unstake your WIGO from the Standard staking pool. The amount of xWIGO you return must be the same as the amount of WIGO you unstake.

Automatic Staking

  • Using this method, the process that includes harvesting the rewards and restaking them into the WigoBank (compounding) is done automatically. However, a tiny amount of fee is charged.
  • The automatic process of restaking your rewards into the WigoBank is brought about by other users who get a bounty for doing so. (Auto Compound Bounty)
  • The interest generated from staking is displayed as APY, which is also considered compounding.
  • Each time the WigoBank automatically harvests the rewards and reinvests them into the WigoBank (or, to put it simply, each time the WigoBank compounds your rewards), a small fee is deducted from what you’ve earned and burned by GBM.
  • If you decide to unstake manually within three days, a fee for the unstaking process is also charged and will be burned by GBM. (1%)
  • There are no WigoBank (xWIGO) Tokens deposited into your wallet.

The Fees Involved in Standard Staking

  • There is no fee for depositing.
  • There is no fee for unstaking

The Fees Involved in Automatic Staking

  • There is no fee for depositing.
  • The unstaking fee is as follows;
+ If you decide to unstake within 72 hours, a 1% fee is charged. This takes place when users unstake manually for 3 days.
+ If you choose to unstake after the 3 days, no fee is involved.
+ Note that every time you manually add more WIGO to the WigoBank, the 3 days and the fee involved come into effect.
+ The above fee is charged when users decide to unstake manually. The process of automatic compounding does not include the fee mentioned above.
  • The fee for automatic compounding is as follows;
+ Each time the WigoBank compounds your rewards, a 1% performance fee is subtracted from your earnings. For instance, if you’ve earned 1 WIGO, you would receive 0.99 WIGO, and 0.01 WIGO is subtracted as the fee and will be burned immediately.
The WIGO tokens collected through fees generated through unstaking or compounding are regularly burnt as part of the GBM plans.

The Most Appropriate Way to Use Automatic Staking

The best way to use Automatic staking is to stake your WIGO tokens and try not to unstake in less than three days. By doing so, i.e., unstaking in less than three days, you have to pay the performance and unstaking fees. If you decide to unstake after three days, you will only pay the performance fee.

The Auto Compound Bounty

0.1% of the pending yield of the users who use Automatic Staking is given as a bounty to those who claim the bounty and, by doing so, trigger the compounding operation for other users. The amount of WIGO you get ought to be higher than the fee you are about to pay for the transaction to submit.