jSTAK - Multichain Governance non Trasferible utility token

In this section, you’ll learn all about the soon-to-be-released JSTAK token, the solutions it provides, and how you as an end-user stand to gain from it.

• Non-monetary Jigstack ecosystem token

• Minted by staking on Stakbank (in the future other possibilities with our products)

• Eligible for longevity multiplier up to 2x

• Delivers benefits across the entire suite of Jigstack products

• Increases DAO governance voting power

What's jSTAK?

Unlike STAK, jSTAK is only valid within the Jigstack ecosystem. The jSTAK token enhances the current services within the ecosystem. If you’d like to know more about the STAK token, check out this article.

It is the DAO that will decide how jSTAK will be used. Currently, jSTAK can only be stored in Stakbank and personal wallets. jSTAK is a modified ERC20 token with additional features, allowing it to be used for cross-chain governance.

jSTAK is purely a governance and utility token, with the former being a significant part of its intended use. You will not be able to list jSTAK on DEXs or even trade it. Only whitelisted addresses can mint these tokens, and only special-access addresses can receive these newly minted tokens.

How does jSTAK work for cross-chain governance? Data and the coded benefits are embedded directly into the token, making it simpler and more cost-effective to bridge critical data to multiple blockchains.

To wrap up, STAK is a governance token that our holders can use for trading, gifting, and so much more. jSTAK is a governance token confined to the Jigstack ecosystem, with no utilization capacity outside of it.

jSTAK’s Multiplier System

Of course, the next question is, why have a second synthetic token like JSTAK in the first place?

We’ve implemented a multiplier system that pays out rewards in the form of jSTAK. As noted, these can be used across the Jigstack ecosystem and do not affect yield directly. The major upside of this is that it simplifies a large part of the smart contract functionalities — which lets us do more without compromising on decentralization.

To receive the full multiplier reward, users will have to claim rewards, not withdraw them. In this case, the contract keeps track of the tokens that have been claimed (ensuring that it can’t be exploited) and lets users collect the rewards without the multiplier being reset to zero. Compounding will deposit STAK back into the pool.

Rewards Distribution

It is important to note that the longevity factor (LF) rewards only apply to jSTAK and not STAK yields.

The multiplier range starts at zero, and grows to two over the course of 11 months. You can see the rewards in the tab

We’ve introduced a weighted base date associated with any given user address that’s recalculated on every additional stake interaction so relevant data is fetched in a performative manner.

There are complexities involved in this system (the details of which we won’t go over today), but suffice to say that we’ve introduced a weighted system to make matters efficient.

The long and short of it is that those who remove their staked tokens are penalized and will miss out on potential benefits.

Those who stake earlier earn more, i.e., the system incentivizes early adopters without getting in the way of other users trying to build up longevity multipliers.

START NOW: https://stakbank.com

Full Article: https://medium.com/jigstack/stakbank-features-v1-1-a7a5ccf3a89

Per avere un Giusta

jSTAK on the Jigstack Ecosystem

With that said, how does jSTAK actually fit into the Jigstack ecosystem? As we noted, jSTAK is used only within Jigstack’s DeFi suite, and as such, the benefits are tied directly to those services.

This is best explained through an example. Our token launchpad service, Lemonade, allows anyone to easily raise funds for their project without having to run through several technicalities and bureaucratic red tape. It’s easy, seamless, and streamlined. A user’s longevity within the ecosystem is a critical reward component used to access additional benefits within Lemonade, and jSTAK puts this idea on steroids.The DAO has a voice in how we will use jSTAK benefits within each jSTAK product. We are looking forward to sharing more detailed examples and information as we launch products.

Owning jSTAK also provides you with increased voting power in the governance system. The idea essentially boils down to this: the longer you support Jigstack, the more you will be rewarded. As a community-first project, you will decide how Jigstack moves forward and the implications of the rewards.

FAQ about JSTAK

• Where do we find how much JSTAK we have earned?

You can import JSTAK to your Metamask wallet to see how much you’ve already received, and check out how much you can claim by hovering over the (?) icons on the “Compound” and “Claim” buttons.

• If we stake more tokens in the future, will the LF be counted from day one?

Longevity calculations follow a base-date that’s calculated by a weighted average on how much was staked across time.

• Is the pool reward solely in JSTAK or also in STAK? If it is JSTAK, what does Compound do?

The pool is pure STAK. JSTAK is deposited directly into your wallet, not the pool. Compounding will deposit STAK back into the pool and JSTAK into your wallet.

• Will the tiers be based on how much stak were holding or is it based on JSTAK?

It is currently based on how much STAK you’re staking, but once we have more JSTAK maturity and distribution, we’ll start tracking JSTAK as well.

• What happens if I unstake?

If you unstake your funds, your longevity factor will be reset and you’ll have to build up longevity once again.