Tier Levels
What are Tiers?
Peppermint staking protocol contains 10 different Tiers that are designed to reward the longest holders with the best APY. By creating an incentive to hold longer, the (3, 3) game theory rule works most efficient at sustaining both price and APY.
10
Tier 10 (equal to Total)
300,000%
0%
9
Tier 9 (-10%)
270,000%
30,000%
8
Tier 8 (-10%)
243,000%
57,000%
7
Tier 7 (-10%)
218,700%
81,300%
6
Tier 6 (-10%)
196,830%
103,170%
5
Tier 5 (-10%)
177,147%
122,853%
4
Tier 4 (-10%)
159,432%
140,568%
3
Tier 3 (-10%)
143,489%
156,511%
2
Tier 2 (-10%)
129,140%
170,860%
1
Tier 1 (-10%)
116,226%
183,774%
This table is an example showing how different Tier levels yield a different APY % for each Tier.
In this case, 300,000% would be the Total APY in Tier 10, and any $sMINT produced from Tiers below Tier 10 would have their respective percentage of their potential $sMINT burned.
How do Tiers work?
Once you first start staking $MINT, you will enter at the first Tier level, Tier 1, and the countdown for the next Tier will begin. To acquire the next Tier, you must not withdraw any $sMINT from your staked balance until the countdown is complete. If you withdraw any $sMINT before the countdown completes for the next Tier, it will reset your Tier level back to Tier 1.
What is the purpose of Tiers?
The purpose of Tiers are to reward long-term investors, incentivize (3, 3), and burn tokens in order to sustain the APY percentage and $MINT price in the long-term.
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