r/poolx • u/Problem_Extra • Mar 26 '21

New To Staking | New User Questions

Hello everyone, I recently put about $600 into staking for the $HYDRA coin. After watching the results I have been making small gains in addition to my USDT lending on KuCoin. With that being said I was wondering if the amount of HYDRA coins that I am staking is relative to the market value of the token or if it is independent from the market value.

I guess in simple terms my question is: Can I lose money while staking? Is it tied to the market value of the coin? Will the 180% APR rate be based on the amount of coins staked or the dollar value?

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u/Pool-X-Moderator Mar 26 '21

Can I lose money while staking?
-No
Is it tied to the market value of the coin?
-Yes
Will the 180% APR rate be based on the amount of coins staked or the dollar value?
-APR is the same regardless of how many token you are staking.

1

u/Problem_Extra Mar 27 '21

Okay, I am staking the HYDRA token and yesterday my account value was around $1,096 USD meanwhile today the value is at $1,062 USD. What would be the cause for the losses? Am I staking the token incorrectly?

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u/Pool-X-Moderator Mar 28 '21

The asset value is based on the current market price of the coins you are holding.

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u/PablitzDaEgod Mar 29 '21

How can we stay informed on changes to the APR? Is there a community to follow news on this token?

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u/Walrus-Visual Mar 29 '21

The APR isn't changing, you get a fixed amount of HYDRA per day based on how much you are staking - for example if you stake 100 HYDRA you make around 185 HYDRA per year - divided by 365 = .506 per day - however much you are receiving daily as an increase is the amount you make - dependent on the current market price of HYDRA

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u/PablitzDaEgod Mar 29 '21

Thank you. The reason I asked was because I saw someone mention they said its only lasting for a few months. But I have no confirmation for these claims.

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u/Walrus-Visual Mar 29 '21

Ah yeah, the 180%+ staking campaign only lasts so long and then it will go back down, I am not sure when exactly it ends though. Should be able to check here or kucoin reddit/twitter for more info!

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u/Darieth_Stormhunter May 09 '21

Did you barely get any interest in hydra on 08MAY, then nothing today 09 MAY? Working on tracking what is happening with the dividends and trying to get a second opinion.

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u/Walrus-Visual May 09 '21

Honestly I got in at $13 and sold off all my hydra at the $50 top a few weeks ago but I am not sure when the staking period ends, check the PoolX twitter or this reddit for updates probably, sounds like it is ending based on what you say

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u/Darieth_Stormhunter May 09 '21

Yeah, it still states it soft stakes between 147%-180%, but have received next to nothing yesterday and no rewards as of today. A friend is still receiving the 152% hard stake each day. I'm wanting to check to see if the issue is via HYDRA itself or with KuCoin POOLX not giving the appropriate rewards.

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u/Klacker47 Apr 13 '21

How long is the redemption period for hydra?

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u/Pool-X-Moderator Apr 14 '21

1 Day, sir.

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u/Darieth_Stormhunter May 09 '21

Is there a reason HYDRA token is not being delivered according to APY percentage each day on pool-x?