Hover Staking Program
Last updated
Last updated
The Hover Staking Program offers rebates on protocol fees as well as governance benefits. Based on the staked amount, stakers qualify for a specific VIP Tier as outlined below. The size of the rebate depends on the VIP Tier and amount being borrowed, supplied, or liquidated. The rebates displayed are percentages off of the fees, not of the full amount borrowed/supplied/liquidated.
VIP 0
>$10
20%
20%
20%
VIP 1
>$50
25%
25%
25%
VIP 2
>$500
30%
30%
30%
VIP 3
>$2,000
40%
35%
40%
VIP 4
>$8,000
50%
45%
50%
VIP 5
>$40,000
55%
50%
55%
VIP 6
>$200,000
60%
55%
60%
VIP 7
>$1,000,000
65%
60%
65%
Users can opt to undergo KYC if they wish to hold xHOV to receive Hover Rewards. However, KYC is not required to benefit from the Hover Staking Program.
Any esHOV or xHOV being does not count towards the user’s VIP Tier threshold. Additionally, during the unstaking period, xHOV only earns ¼ of the Hover Rewards.
Upon passing an check to determine eligibility, users can convert their esHOV to xHOV at a 1:1 ratio. Holding xHOV grants access to Hover Rewards. Rewards are accumulated every block and distributed in weekly epochs in a mix of xHOV and supported assets.