Without letting you wait any longer, the HeroFi team quickly launched the “Add Liquidity” and “Stake” features – promising to bring a lot of value to the gaming community and investors.
The most important topic that many people are interested in at HeroFi is how the value of the ROFI token will evolve in the future.
HeroFi gives players an ecosystem in which players can Earn ROFI based on in-game activities. Every day, the player can get a certain amount of ROFI depending on the performance, but the player only actually receives 20% of that ROFI to exchange or buy in-game items, and up to 80% of the reward is $ ROFI Locked with long-term orientations to maximize profits for gamers and investors.
New feature: “LP STAKING”
The “LP Staking” feature is essential in order to stabilize the market and allow users to withdraw the full 80% ROFI lock after receiving in-game rewards. High liquidity ensures stable prices and protects ROFI from market fluctuations caused by large transactions.
In other words, the “LP Staking” feature ensures that users receive ROFI at a consistent price, allowing investors and gamers to maximize their profits at the end of each day.
However, before performing the Staking step, the user must first perform the “add liquidity” step first.
How does the “Add Liquidity” work on ROFI?
HeroFi team decided to choose BUSD as a piece to combine into a liquidity pair including ROFI/BUSD.
We will be using the “Add Liquidity” feature on Pancakeswap – one of the largest and most reputable exchanges of Binance Smart Chain.
How does the “LP Staking” feature work?
Staking is a way for HeroFi to unlock all in-game rewards for users. By staking a standard amount of ROFI-BUSD LP, players will gradually unlock the number of ROFI locked so that they can exchange or reinvest in the game to receive bigger rewards.
The following formula for calculating unlocking speed:
Speed = Stake Amount x 25 x 10^(-8)
There are the following:
- Speed: The amount of ROFI unlocked in each Block determines the speed (1 block is equivalent to 3s)
- The stake amount is the number of optional LP required to unlock ROFI (LP is the value the user gets after using the add liquidity feature)
- The multiplier to unlock ROFI (equivalent to APY 200% /Year) is 25 x 10^(-8).
Users can always withdraw the amount they put in using the Staking feature at any time.
We’ll go over the three most common scenarios:
- If a user uses the Stake feature and decides to stop, withdraw all LP (including BUSD and ROFI), the user will only receive the ROFI unlock amount from starting time to stopping time.
- If a user uses the Stake feature and decides to withdraw a specific amount of LP (e.g., 50%); the user will also only receive the ROFI unlock amount from starting time to stopping time. However, the Stake process will continue. At this time, the amount of ROFI unlocked in each block will be reduced by half, and the unlock speed will be reduced by half as well.
- If a user selects Claim, all of the “Amount Unlocked” ROFI will be converted from locked to unlocked and updated in the user’s ROFI balance. Staking LP to unlock ROFI continues to work until the user no longer has any locked ROFI balance.
As a result, the more LP users put in, the faster the ROFI unlocking speed will be. This feature, however, has speed limits, which are as follows:
Maximum speed = Total amount of locked ROFI / 66,000
To make it clearer for everyone, HeroFi would like to use the following example.
- If a user has a total of 300000 LP after adding liquidity, using the above formula, for each block, that user can unlock the ROFI number = 25 10-8 x 300000 = 0.075 ROFI per Block (equivalent to 3 seconds)
The ROFI number will be gradually unlocked until the user’s wallet is depleted of all ROFI Lock, or until the user withdraws all LPs used for this Stake feature.
- If the user withdraws half of the LP during the Stake period, the rate at which the ROFI is unlocked is also halved.
The system, however, has a limit on the ROFI unlocking rate, so if a user has a ROFI amount of 5000, that user can only unlock up to the maximum = 5000/66,000 = 0.07575 ROFI per Block (equivalent to 3 seconds)
Even if a user stakes 1,000,000 LP, he or she can only receive a maximum of 0.07575 ROFI per Block (equivalent to 3 seconds)
As we have previously announced and reiterated, the amount of $ROFI paid out in March will be only 20% of the total reward (we will no longer pay the amount of $ROFI lock) that users receive back in the day.
As a result, the Add Liquidity and LP Staking features will be retained, but only for those who own $ROFI Lock prior to March 1, 2022.
How to Add Liquidity with ROFI
We will use the “Add Liquidity” feature on Pancakeswap, one of the largest and most reputable Binance Smart Chain exchanges.
Follow these steps to activate the Add Liquidity feature:
- Step 1: Access to app.rofi.io/#/vault.
- Step 2: Select “”Get LP””
The system chose two Token value pairs on its own.
- Step 3: Enter the amount of $ROFI to which you’d like to add liquidity.
Please keep in mind that the amount of ROFI you enter must correspond to the BUSD value at the time you do it.
Make sure you have enough BUSD to do the “add liquidity” feature.
- Step 4: Click the Supply and Confirm button.
As a result, we have completed the process of adding liquidity to ROFI. Then, on HeroFi’s Marketplace page, we’ll proceed to the STAKE step to officially withdraw to the amount of ROFI lock.
HOW TO STAKE, UNSTAKE AND CLAIM ROFI LOCK
After the Add Liquidity step is completed successfully, we will proceed to the Stake step to officially withdraw ROFI Locked.
HOW TO STAKE
- Step 1: Access to app.rofi.io/#/vault.
- Step 2: Select Stake
- Step 3: Determine the LP percentage you wish to stake. The system has four levels that can be selected: 25%, 50%, 75%, and 100%. In this video, we demonstrate how to Stake 100% of the LP you have.
- Step 4: Select Approve and wait for the data to be processed by the system. The average wait time is one minute.
- Step 5: If the approval is successful, select Stake.
At this point, click Confirm on the Wallet to which you’ve connected.
- Step 6: You have successfully Staked when the system notifies you with a blue sign.
You can view the detailed parameters of the Stake transaction as well as the time required to withdraw to ROFI.
HOW TO UNSTAKE
- Step 1: Select Unstake.
- Step 2: Choose the LP percentage you want to Unstake. The system has four levels that can be selected: 25%, 50%, 75%, and 100%. In this video, we demonstrate how to Unstake 50% of your LP.
- Step 3: Click the Approve button and wait for the system to process the data. The average wait time is one minute.
- Step 4: If the approval is successful, select Unstake.
- At this point, click Confirm on the Wallet to which you’ve connected.
- Step 5: You have successfully Unstaked when the system notifies you with a blue sign.
You can view detailed parameters for the remaining LP.
HOW TO CLAIM ROFI
After a period of Stake, the system will automatically return the now-unlocked ROFI lock number to ROFI unlock. To obtain this ROFI number, complete the following steps:
- Step 1: Select Claim.
- Step 2: On the Wallet you connected, select Confirm.
When the system displays a blue sign, it means you have successfully claimed.
The system will automatically claim the ROFI number that you can obtain after the Stake time has passed.”
The HeroFi team has always focused on the milestones in our Roadmap, and since the project was announced, with the expectation of being a pioneering project that brings Crypto knowledge and concepts closer to everyone.
As a demonstration of our long-term commitment and belief in the project, we have always adhered to and completed those milestones.
To the Moon!
Mery Christmas and Happy New Year.