Opening Stakes

When a user opens a new stake, they choose an amount of WISE to stake, and a stake length in days. The minimum stake amount is 0.000000000001 WISE (1000000 YODA). The minimum stake length is one day, and the maximum stake length is 15,330 days (just under 42 years).

Once a stake is opened, it is in “Pending” status. This means that the stake won't technically begin until the following day. A user may close a stake in Pending status, receiving back the stake's principal, without penalty or interest.

Pending stakes become “Active” status once the next day begins. At this point, closing the stake before it reaches “Mature” status will incur a penalty.

When a stake is opened, the WISE tokens staked are actually burned by the contract and converted into “shares”. These shares exist for the life of the stake. Once the stake is closed, the shares are destroyed, and WISE is minted back to the user (along with any interest added and penalties deducted).

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