$RNR Rewards Mechanics
Last updated Sep 10, 2022
Rock-n-Roll token is the utility token for perks and services provided by Staking Rocks! [PHRCK] community stake pool. If you are a delegator to PHRCK, you also earn RNR tokens on top of your ADA staking rewards.
And below are the main things you need to know about this token.
How the reward amount is calculated
Your additional RNR token rewards are in proportion to your delegated stake.
For example — if there is a total of 10 million ADA staked with, or delegated to PHRCK and out of that total, your own delegated stake is 100k ADA, that means your share of the pool is 1%. Consequently, your share of the rewards earned by the pool is also 1%.
This is the same way our ADA staking rewards are calculated. So, to simplify things, for every ADA you earn from staking, you also get a corresponding RNR token. If you earned 100 ADA in an epoch, you also get 100 RNR for that epoch.
Qualifications for claiming
There are only 2 hard-coded requirements for your RNR rewards to become available for claiming:
- You must still be currently delegated to PHRCK
- You must have at least 100₳ retained in your account
These requirements are in place to stay in accordance with our main purpose for the RNR token, which is to reward the delegators who support the pool and the greater cause to contribute to the decentralization of the Cardano network.
But these requirements are also not intended to lock in delegators. If you'd like to switch stake pools, or to liquidate your ADA into fiat, and still get your earned RNR rewards, you can just claim them right before you move your stake or liquidate.
How to claim your RNR rewards
When you have already earned ADA staking rewards while delegated to PHRCK, you've also already earned the same amount in RNR tokens. And if you have met the requirements listed above, a "Claim" button should appear right next to your available rewards in the dashboard:
Clicking the "Claim" button will create the claim transaction and send it to your wallet app. Your wallet app should then ask you to sign the transaction so we can submit it to the blockchain.
That's just it. Only 1 transaction is required.
Do I need to claim my RNR every epoch?
You can, but you don't need to. You can just let them accumulate for a while and claim them only when you already have a considerable amount.
As of the time of this writing, there is no set expiry for claiming your RNR rewards. If this will have to change in the future, it will be widely communicated through all our available channels — on Telegram, Twitter, Medium, Facebook and on our own websites. And of course, ample time will be given for delegators to claim their pending rewards.