Hover Staking Program

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 Tier	Staked HOV Threshold	Borrow Interest Rebate	Lending Fee Rebate	Liquidation Fee Rebate
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 unstaked does not count towards the user’s VIP Tier threshold. Additionally, during the unstaking period, xHOV only earns ¼ of the Hover Rewards.

Hover Rewards

Upon passing an optional KYC 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.