WigoBank FAQ & Troubleshooting
Using the Finished tab on the WigoBank page, you must be able to find the specific pool you are looking for. Moreover, you can use the Staked Only button to find your staked tokens more conveniently.
This problem could be due the transferring of WigoBank (xWIGO) tokens in your wallet. This token proves that you own the WIGO tokens if you are using the standard staking method in WigoBank. Please double-check that you have not sold or transfer the above-mentioned tokens.
As you stake/unstake your assets to or from WigoBank, the rewards you’ve earned are also sent to your wallet simultaneously. So do not panic if you are faced with such a situation.
WigoBank APR = Annualized rewards (USD)/Users’ funds staked in the WigoBank pool (USD) * 100
For instance, consider a 60-day pool within which the rewards are worth 300,000 USD, and the value of WIGO staked in the pool amounts to 3,000,000. Note that factors such as the price of WIGO and also the reward token, alongside the amount of WIGO staked lead to fluctuations in the APR.
Calculation | Amount | |
|---|---|---|
Total rewards to distribute (USD value) | | 300,000 USD |
Distribution period | | 60 Days |
Daily distribution | 300,000 / 60 = | 5,000 USD Daily |
Annualized rewards (USD value) | 5,000 * 365 = | 1,825,000 USD |
Value of WIGO staked by users in pool (USD value) | | 3,000,000 USD |
APR | (1,825,000 / 3,000,000) * 100 = | 60.83% APR |
This number indicates the remaining time until there are no more rewards for distribution in the bank. Therefore, you should consider unstaking your tokens from the bank once the bank reaches the specific time.
The pools on WigoBank are categorized as follows:
1. Stake WIGO to earn WIGO
2. Stake WIGO to earn other tokens
In the first type, the rewards are generated from WIGO emissions. A number of WIGO tokens are distributed as rewards for the WigoBank every second.
In the second type, the teams behind the projects that sponsor certain pools are responsible for the distribution of rewards.
By staking manually in WigoBank using the Standard Staking method, WigoBank (xWIGO) Tokens are deposited into your wallet. These tokens act as the proof of ownership of WIGO tokens you’ve staked in the WigoBank. Therefore, upon unstaking your WIGO tokens from the WigoBank, WigoBank (xWIGO) tokens are also automatically returned.
Be careful not to sell or transfer your WigoBank (xWIGO) tokens. In case you are using the Standard Staking method in WigoBank, and you decide to unstake your WIGO tokens, you should exactly return as many WigoBank (xWIGO) tokens as the WIGO tokens you want to unstake.
Last modified 1yr ago