Simple Earn v2.1 - GSA/xGSA

Simple Earn V2.1 - GSA to xGSA: How It Works - Empowered Rewards

With the launch of Simple Earn V2.1, users will be able to stake GSA tokens and receive xGSA tokens as rewards. This new smart contract allows users to earn rewards based on the amount of GSA tokens they stake, and it features an increased mining rate and adjustable reward ratios and distribution times. Below are the key features and functionality of the updated contract.

Basic Functionality of the Smart Contract

1. Staking GSA Tokens

The smart contract will allow users to stake GSA tokens (address: 0xC1e2859c9D20456022ADe2d03f2E48345cA177C2).

• Users will deposit GSA tokens into the smart contract and will receive xGSA tokens as rewards.

2. Reward Ratio and Mining Rate

The reward ratio has been increased to the following:

• For every 1000 GSA tokens staked, users will earn 10 xGSA tokens every 48 hours.

For example, if a user stakes 1000 GSA tokens, they will receive 10 xGSA tokens as a reward every 48 hours.

• This mining rate reflects a significant increase in the reward distribution, making staking GSA tokens more rewarding.

• The reward ratio is adjustable and can be modified by the contract administrator to meet the ecosystem's evolving needs.

3. Flexibility in Reward Time Interval

In addition to the reward ratio, the reward distribution interval is configurable. The smart contract can be set to distribute rewards every 48 hours, and this frequency can be adjusted.

4. Claiming Rewards

Users can claim their xGSA rewards at any time. The system will calculate the accumulated rewards based on the time elapsed since the last claim and the amount of GSA tokens staked.

5. Staker Information

The smart contract will allow the retrieval of detailed information about active stakers, including:

• The total amount of GSA tokens each staker has deposited.

• The total amount of xGSA rewards a staker can claim at any given time.

This information can be displayed on a dashboard for both administrators and users, helping track the staking progress and rewards.

6. Deposit and Withdrawal Functions

• Users can deposit and withdraw their GSA tokens from the smart contract at any time.

• When users withdraw their tokens, the accumulated xGSA rewards will be calculated and delivered to the user as part of the withdrawal process.

7. Modifying Reward Ratio and Time Interval

The smart contract will allow the administrator to modify both the reward ratio and the reward distribution interval at any time.

• Function to adjust the ratio: setRewardRatio(uint256 newRatio).

• Function to adjust the reward interval: setRewardInterval(uint256 newInterval).

8. Security and Transparency

The contract will implement security measures to prevent reward manipulation and ensure that all transactions are transparent and auditable.

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User Workflow

1. Depositing Tokens into the Smart Contract

• Users send their GSA tokens to the smart contract using the stake() function. Once deposited, their GSA tokens will begin generating xGSA rewards based on the configured ratio and time interval.

2. Accumulating Rewards

• The smart contract will calculate the rewards based on the configured ratio (for example, 10 xGSA for every 1000 GSA staked) and distribute them every 48 hours.

3. Claiming Rewards

• Users can claim their xGSA rewards at any time using the claimRewards() function. The contract will calculate the accumulated rewards up to that point and deliver them to the user.

4. Withdrawing Tokens

• Users can withdraw their GSA tokens back to their wallet using the withdraw() function. The rewards accumulated as xGSA will be calculated and delivered to the user as part of the withdrawal process.

Simple Earn V2.1 now enables users to stake GSA tokens and earn xGSA rewards with an increased reward rate. For every 1000 GSA tokens staked, users will earn 10 xGSA tokens every 48 hours. The smart contract offers an adjustable reward ratio and time interval, providing a flexible and rewarding staking experience. Additionally, the system allows for modifications to the reward rate and distribution schedule, making it adaptable to the evolving needs of the ecosystem.