Celeste on Polygon Passive Subscriptions Rewards

Celeste on Polygon Passive Subscriptions Rewards

Celeste on Polygon Passive Subscriptions Rewards proposal in Gardens UI

Proposal Information

Proposal description:
Pre-emptive funding for Celeste subscriptions on Polygon to create rewards for Celeste stakers. The Celeste subscriptions contract maintains an APY of 25%. If the Polygon Celeste accrues the same amount of Honey as the xDai Celeste (~640 HNY) that’s ~160 HNY per year which is ~14 HNY per month. However, at least to begin with less than 640 HNY is likely to be staked to the Polygon Celeste and so these rewards should last longer.

Celeste is yet to be operational on Polygon but will become so soon.

Funding Information (For Funding Proposals)

Amount of HNY requested:
50 Honey

Ethereum address where funds shall be transferred:
The easiest way to do this is by just depositing this into my personal account, with which I will bridge the Honey to Polygon and deposit it in Celeste. 0x5141970563C7d70a129A05f575e9e34DF4bD81d8

For verification this account is the account I use in various multisigs, including the Gnosis Multisig that governs Celeste on Polygon and the Bug Bounty swarm.

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will this payout be at 25% apr roughly regardless of hny being staked? meaning if polygon only has 320HNY does that mean roughly a 7 HNY per month payout? or a constant 14HNY per month?

There isn’t a lot of HNY liquidity on polygon so i wouldn’t expect nearly as much hny being staked.

The payout is always 25% APR on your staked amount, regardless of how much is staked or how much is available in the subscriptions contract, claimable once per month.

Could 1hive Celeste jurors stake HNY also on Polygon ?

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You can’t stake the same Honey on both networks but you can stake up to the maximum (~30HNY) to each network (total ~60 HNY) and receive the same 25% APR on both.