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- EXAMPLE 5
- ---------
- start with 4 people:
- A has 10k and qualifies for a 50% bonus on all stakes
- B has 12k and qualifies for a 25% bonus on all stakes
- C has 15k and doesn't get any bonuses
- D has 10k and qualifies for a 20% bonus on all stakes
- note that 150% of 10k = 125% of 12k = 100% of 15k, so A, B, C can all get the same number of shares
- day 1:
- all of them open stakes on day 1; the price is initially 1 hex per share. A,B,C get 15k shares each, D gets 12k shares. total 57k shares
- let's say the pool pays a return of 10% to 0% bonus stakes on the first day. to do that we need to calculate the effective amounts staked. the 10k guy with the 50% bonus is effectively staking 15k for example. so we have 57k hex effectively staked, and 57k shares. the payout for will be 5700 hex:
- 'effective stake' (col 4) is the amount staked (col 2) with the bonus (col 3) added on
- 'stake value' (col 7) is hex staked (col 2) plus daily profit (col 6) - it is the amount the staker actually gets if they end their stake
- 'effective value' (col 8) is effective stake (col 4) plus daily profit (col 6) - it is the amount their stake would be worth if their bonus had multiplied their coins as well as their shares
- 'next price' (col 9) is effective value (col 8) divided by number of shares (col 5) - note that you can use any of the 4 stakes to determine tomorrow's price - they all give the same number (and it's 1.1 because the daily return was 10%), and of course dividing the sum of (col 8) by the sum of (col 5) also gives the same price
- (2)+(3) (2)+(6) (4)+(6) (8)/(5)
- effective daily stake effective next
- who staked bonus stake shares profit value value price
- ---1 ------2 -----3 ---------4 ------5 ------6 -----7 ---------8 -----9
- A 10000 50% 15000 15000 1500 11500 16500 1.1
- B 12000 25% 15000 15000 1500 13500 16500 1.1
- C 15000 0% 15000 15000 1500 16500 16500 1.1
- D 10000 20% 12000 12000 1200 11200 13200 1.1
- --- ------ ----- --------- ------ ------ ----- --------- -----
- 57000 57000 5700 52700 62700 1.1
- day 2:
- let's say none of them pull out, and that today the pool pays 10% again (to 0% bonus stakes). C has no bonus, and is worth 16.5k. 10% means he should get 1650. he's getting 15k/57k of the profit, so the whole pool needs to get 1650*57/15 = 6270 (which is 10% of the effective value (col 8))
- (2)+(3) (2)+(6s) (4)+(6s) (8)/(5)
- effective daily stake effective next
- who staked bonus stake shares profit value value price
- ---1 ------2 -----3 ---------4 ------5 ------6 -----7 ---------8 -----9
- A 10000 50% 15000 15000 1650 13150 18150 1.21
- B 12000 25% 15000 15000 1650 15150 18150 1.21
- C 15000 0% 15000 15000 1650 18150 18150 1.21
- D 10000 20% 12000 12000 1320 12520 14520 1.21
- --- ------ ----- --------- ------ ------ ----- --------- -----
- 57000 57000 6270 58970 68970
- note that the pool has paid out a compounded 10% both days, and the price per share has also increased 10% per day 1 -> 1.1 -> 1.21
- the price per share is the same as the return made by a 0% bonus staker since the start. C's 15k has turned into 15*1.21 = 18.15k
- let's check this by having a day with 40% returns. everyone stays staked again:
- day 3:
- pool pays 40% of effective value: 0.4 * 68970 = 27588
- (2)+(3) (2)+(6s) (4)+(6s) (8)/(5)
- effective daily stake effective next total percentage
- who staked bonus stake shares profit value value price profit profit
- ---1 ------2 -----3 ---------4 ------5 ------6 -----7 ---------8 -----9
- A 10000 50% 15000 15000 7260 20410 25410 1.694 10410 104.1 : 50% more than C's profit [69.4 * 1.5 = 104.1]
- B 12000 25% 15000 15000 7260 22410 25410 1.694 10410 86.75 : 25% more than C's profit
- C 15000 0% 15000 15000 7260 25410 25410 1.694 10410 69.4 : 40% on 10% on 10% (1.1*1.1*1.4 = 1.694)
- D 10000 20% 12000 12000 5808 18328 20328 1.694 8328 83.28 : 20% more than C's profit
- --- ------ ----- --------- ------ ------ ----- --------- -----
- 57000 57000 27588 86558 96558 1.694
- now the next price is 1.694, which is 1.1 * 1.1 * 1.4, as expected after three days returning 10%, 10%, 40%
- so by now we're happy that the new share price multiplier each day is simply the return multiplier. let's check what happens when a staker with a bonus tries to externally compound
- day 4:
- if C ends stake he gets his stake value (col 7) [it's his initial 15k plus the profits from days 1 (1500), 2 (1650), and 3 (7260): 15e3+1500+1650+7260 = 25410]
- at a price of 1.694 that gets him 25410/1.694 = 15000 shares - the same as he had already
- if B ends stake. he gets his stake value (col 7) [it's his initial 12k plus the profits from days 1 (1500), 2 (1650), and 3 (7260): 12e3+1500+1650+7260 = 22410]
- at a price of 1.694, and assuming he's still getting a 25% bonus that gets him 22410*1.25/1.694 = 16536 shares - that's more than he had before. it looks like he can beat the system by externally compounding, but that's because the example was dumb. nobody gets a 25% bonus and can end stake without penalty after 3 days. it does make me worry however that the system maystill be gameable.
- I can get 20% bonus for each extra year I stake.
- If I stake for 12 sets of 30 days I get a bonus of 1.6438% for each stake 1 + 0.20 * 30/365 = 1.016
- If instead I stake for the whole 371 days I get 20.3287% for the stake 1 + 0.20 * 371/365 = 1.203 (12 30 day stakes take 371 days due to having to skip a day between stakes)
- Compounding 12 30 day stakes gives a return that is (1 + 0.20 * 30/365) ** 12 = 1.216 times better than having no bonus
- A single 371 day stake gives a return that is (1 + 0.20 * 371/365) ** 1 = 1.203 times better than having no bonus
- The 12 sets of monthly stakes pays slightly better...
- The problem is that you're trying to offset an exponential bonus (from manually restaking) with a linearly growing bonus (longer pays better). Same old story: exponential beats linear!
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