Early Withdrawal sounds great! Tell me more!

There have been a lot of opportunities for people to use $GEAR, like their favorite auction or raffle, adding to the y00ts whitelist pool, or even upgrading their Robots, but they couldn’t access their $GEAR due to the lockup and the opportunity passed them by. This early withdrawal mechanic aims to fix this problem for our holders, with a small twist to maintain the supply and market circulation of $GEAR.

A twist? Should I be worried?

If you’re incredibly fickle and plan to deposit in the 60-day pool and withdraw 3.5 $GEAR a day for your non-transformed Generous Robot from Day 1, yes.

This new mechanic is designed to reward people for locking their Robots up in a particular pool and fulfilling as many days of that lockup as possible while giving them accessibility to their $GEAR (after deducting a penalty for early withdrawal) at their will.

How is the Penalty calculated?

The formula for the $GEAR penalty, in terms of %, is:

Penalty % = x * [1 - (Number of Days Staked)/(Length of the Pool Deposited in)] Available GEAR for claim = (1- Penalty%) * Total GEAR earned by that day

where x = 0.95 coefficient is applied if deposited in the 60-day pool, 0.97 if deposited in the 30-day pool, and 1 in the remaining 2 pools

For example, if you stake your non-Transformed Generous Robot in the 60-day pool and withdraw after 30 days, your Penalty % will be 0.95*(1- 30/60) = 47.5%. That means you will have to pay a penalty of 3.53047.5% = 49.875 $GEAR in order to receive your $GEAR

You will need to have the penalty amount of $GEAR in your wallet in order to claim, following which you will be able to claim the final amount (Original Amount of $GEAR Earned - Penalty Amount). The Penalty amount of $GEAR originally held in your wallet will not leave your wallet while claiming.