Token Staking
How does FANT staking work?
When you claim contest prizes, Phantasia protocol takes a percentage of your winnings (paid contests only) called the "platform fee". When you stake FANT, you lower this platform fee and keep more of your winnings. The more you stake, the higher tier you belong to in the FANT staking system. The higher tier you achieve, the lower platform fee you pay to the Phantasia DAO treasury (DAO = decentralized group of FANT token holders). When you stake FANT, you'll receive sFANT in return. sFANT will be frozen and therefore un-tradable on exchanges and to other wallets.
What is the platform fee?
The platform fee is in place to support the Phantasia DAO treasury by taking a percentage of paid contest winnings. The maximum platform fee is 5%, meaning 5% of a prize is sent to the DAO treasury. This is very low compared to other fantasy sports competitors - some taking as high as 15% from player's winnings. You can easily lower this platform fee by staking more FANT and advancing to higher staking tiers. If you stake 250,000 FANT and reach Tier 1, you only pay 0.5% to the DAO - why not keep your prizes! The platform fee applies to paid contests only. No platform fee will be taken from free-to-enter contests.
Below is the tier structure for the platform fees
Untiered
0
5.00%
9
1,400
4.50%
8
5,000
4.00%
7
10,000
3.50%
6
25,000
3.00%
5
50,000
2.50%
4
100,000
2.00%
3
150,000
1.50%
2
200,000
1.00%
1
250,000
0.50%
What is contest fee sharing?
When you stake FANT you can participate in the Phantasia revenue sharing process. If in an allowed region, users can create a contest, then be rewarded with a percentage of each user's platform fee when they claim contest prizes. The percentage of the platform fee sharing can be found below. This incentivizes contest creators to stake FANT to benefit the protocol and in return earn a higher % of the protocols fees. The fee sharing is ONLY for contest which you're creating and not for all of the contests on Phantasia.
Below is a chart which shows the staking fee tiers and an example scenario of payouts for each tier. This example amount is derived from a contest pool of 10,000 USDC and assuming that the platform fee for the winner is 5%.
1,400
5%
$10,000.00
5%
$25.00
$475.00
5,000
10%
$10,000.00
5%
$50.00
$450.00
10,000
15%
$10,000.00
5%
$75.00
$425.00
25,000
20%
$10,000.00
5%
$100.00
$400.00
50,000
25%
$10,000.00
5%
$125.00
$375.00
100,000
30%
$10,000.00
5%
$150.00
$350.00
150,000
35%
$10,000.00
5%
$175.00
$325.00
200,000
40%
$10,000.00
5%
$200.00
$300.00
250,000
45%
$10,000.00
5%
$225.00
$275.00
*Note
The tiers are subject to change based on DAO voting. These documents will be updated with any of the changes to the tier changes for both the contest creator and platform fees.
Last updated