When it comes to protocol staking, Figment has you covered.
We are excited to announce the release of our Rewards Calculator! Calculating protocol staking rewards accurately is important, but typically is a challenging, manual and laborious process. The Rewards Calculator is an automated tool to help inform token holders’ decisions on protocol staking. Using a data-driven approach, the calculator gives token holders the ability to make decisions by allowing them to quantify staking opportunities more accurately.
Rewards Calculator Key Highlights
- The Rewards Calculator leverages Figment’s Rewards Rate API retrieving time series of daily network-wide annualized staking rewards rates to provide a source of truth for token holders and builders, which we call the Staking Rewards Rate (SRR)
- Users can calculate their protocol staking rewards on a single network, or combine multiple networks to calculate cumulative rewards across all protocols
- It currently supports ETH, SOL, and DOT, with more networks coming soon
- Currently, for ETH, the Rewards Calculator displays the current annualized rewards rate without including the transaction rewards (the priority fees and MEV). Learn more about ETH rewards here.
Use cases for Crypto Service Providers and Institutional Token Holders
Crypto Service Providers such as Exchanges and Custodians must make critical decisions to increase customer retention and revenue. If an institution does not offer staking for its retail or institutional customers, it is bound to lose them to competitors who do. These customers are keen on being able to earn rewards on their tokens and will migrate to the platforms that offer staking.
Institutional token holders can use the Rewards Calculator directly on the Figment site to quantify rewards opportunities associated with staking their tokens. The Rewards Calculator helps them make informed and timely decisions, as institutions generally don’t have the tools or data to make decisions regarding staking.
How to use the Rewards Calculator?
Step 1: Enter the desired information
- Network (ETH, SOL or DOT)
- Amount of tokens
- Staking Duration (in months)
- Price (keep it as it is for the latest price or change it for your own scenarios)
- Staking Rewards Rate (SRR)
Step 2: To compare more than 1 network or the earning potential of the same network, click on “Save and Add Another Network”, enter the desired information and click again on “Save and Add Another Network”
- Repeat Step 2 for up to 4 networks compared.
Step 3: Click on “Add totals” to view the projected earning potential for each network or the earning potential of the same network
Step 4: To share the earning potential, click on the logo next to “Your total annual rewards earned*” or the logo in the upper right corner of the chart
Step 5: To start over, click on “Clear All” and “Delete”
Supported & Upcoming Protocols
The rewards calculator currently supports ETH, SOL, and DOT. Throughout 2023, The Figment team plans to add a mixture of protocols including: MATIC, AVAX, NEAR, ATOM, OSMO… and more!
Stay tuned for upcoming features and additional supported networks. Please reach out to firstname.lastname@example.org if you have any staking inquiries.