Staking FAQ

What is staking?

Staking is the process of locking up your EPIK tokens in order to obtain rewards.

Do I pay gas fees to stake?

Yes. The first time you stake, you will first have to approve our access to the EPIK in your wallet. Since this is a transaction on blockchain, you will pay gas. After that, you can start staking EPIK. You will pay gas fees each time you stake.

What do I need to get started?

You need a crypto wallet, such as Metamask, loaded with some EPIK tokens, and some tokens to pay for gas fees: BNB if you're staking on BSC or ETH if you're staking on Ethereum; and both BNB and ETH if you are porting tokens from Ethereum network to BSC network

How do I earn crypto rewards?

When you stake EPIK, rewards are accumulated in the native token of the network that the EPIK was staked: ETH on Ethereum and BNB on BSC. Potential Rewards accumulate during the time you have EPIK staked. You can see the displayed annual percentage yield (APY) on the staking page to get an idea of the amount of rewards you may earn over time.

How is the APY calculated?

The APY is dynamic and fluctuates based on the TVL of EPIK staked, the price of ETH (or BNB if staking EPIK on BSC), and the price of EPIK. The yield earned (represented by APY) on the EPIK you staked is converted to ETH (or BNB) based on realtime market prices and then rewarded to you in ETH (or BNB).

What APY can I expect to earn?

The APY is dynamic and fluctuates based on the TVL of EPIK staked. Over time, we anticipate an average APY of around 6–15%, paid in the native token of the chain (either ETH or BNB). Our contracts calibrate regularly to achieve the target APY range, however, keep in mind that there may be daily fluctuations outside of that range the next calibration.

Periodically there will be promotional events where special APY rates will be offered. Anyone that is staked during those periods will benefit from the APY rate surge. To stay notified when promotions happen, follow us on twitter and telegram announcements.

Is there a limit on the amount of EPIK tokens I can stake?

No, you can stake any amount of EPIK available in your wallet. There is a minimum staking amount required to reach Prime and Prime+ Memberships, however, you can stake more than these minimums and enjoy Staking Rewards on any amount of EPIK staked.

Do I need to restake every month?

No, you can maintain membership level by maintaining the staking level required for each membership level and that’s it.

Will the membership requirement levels change over time?

Yes, over time, the amount of EPIK required to stake for each membership level may change periodically. You can check your Profile at any time on your membership status.

When and How can I unstake (withdraw) my staked EPIK?

There is a two-step process to withdraw your EPIK.

Step 1: Request Withdrawal. After requesting to Withdraw you must wait for the Cooldown period to complete before withdrawing the EPIK back to your wallet. You will still earn the APY during the Cooldown period.

Step 2: Once Cooldown is completed, you have successfully Unlocked your EPIK tokens for withdrawal. Simply continue to Withdraw Tokens to complete the unstaking (withdrawal) process and to transfer the EPIK back to your wallet. You will still earn the APY while any tokens are Unlocked but have yet to be Withdrawn.

Please note: Gas Fees will be used in each step of the withdrawal process.

How do I claim my rewards (i.e. the ETH or BNB you earned from staking)?

Simply click the Claim Rewards button on the staking page, and authorize it in your wallet.

Can I stake on both chains simultaneously?

Yes. However, only one wallet can be linked to your Epik Prime Profile at a time (You also have the ability to change which wallet you link). Rewards will accrue to any wallet you have staked with regardless if it’s the current wallet connected to your account.

Can I stake using multiple wallets?

Yes. However, only one wallet can be linked to your Epik Prime Profile at a time (You also have the ability to change which wallet you link). Rewards will accrue to any wallet you have staked with regardless if it’s the current wallet connected to your account.