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SuiPad Lock & Multiplier
SuiPad Lock Multiplier system enables SUIP stakers to enjoy a higher tier without having to stake additional tokens.
When you lock your staked SUIP for a predefined term, you'll be able to enjoy a multiplier to your staked SUIP
There are 3 locking terms you can choose, each with a set multiplier:
- 3 months → 1.3x Multiplier
- 6 months → 1.5x Multiplier
- 12 months → 2x Multiplier
Eg: Kelly who staked 2500 SUIP (Ruby tier), decided to lock the staked SUIP for 12 months, she will then receive a 2x multiplier for her staked SUIP resulting the smart contract recognizing it as 5000 SUIP (2500 SUIP x 2), hence she is now getting the Sapphire tier. 12 months later, Kelly's staked SUIP is now unlocked, she will get her tier refreshed from Sapphire back to Ruby, and she can unstake the 2500 SUIP that she staked one year ago.
This Lock Multiplier mechanism allows our committed community to be able to earn a higher tier without having to stake additional tokens, at the same time contribute to overall governance of SUIP.