I’ve mentioned in my previous post that all PHRCK delegators will be entitled to claim additional $RNR tokens every epoch.

Well, it starts today! You can now claim your RNR native tokens as additional rewards for every epoch you have delegated to our community stake pool.

And yes, this is retroactive. You have additional RNR tokens from PHRCK for every epoch you staked with us from the past. And going forward into the future, every epoch, you’ll get more also.

2021-04-29_rnr-rewards.jpg

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.

A note on fractional amounts

As of now, it is not yet possible to have fractional values (decimal amounts) of native tokens on the Cardano blockchain. So for now, any fractional amounts of RNR earned will have to be accumulated first, and only whole amounts can be claimed.

When you claim your RNR rewards, if there are any excess decimal values, they will be retained and will be accumulated with the rewards in the succeeding epochs. You can claim again when you have at least 1 whole RNR earned.

In the future, when fractional values are already supported, we will just provide a facility to convert our existing RNR tokens to a new version.

How to check your claimable RNR rewards

Just go to the following page and enter your wallet address. You can use any of the addresses you can get from the “receive” section of your wallet app. Both the used and fresh addresses work the same.

All addresses in a wallet account can be resolved to only 1 “stake address”. And it is this stake address that we are using to give out and track the claiming of these RNR rewards.

Check my RNR rewards

How to claim your RNR rewards

  1. First, be sure you have already checked that you have claimable RNR rewards.
  2. Check that you still have at least 100₳ delegated to PHRCK in the current epoch.
  3. Send 2 ADA to the following designated address: addr1qx8etwdj3vpky8nenxldxzc4gm7llpddad3szf99puffyvdaazlltw7cf2r36fdr47a3pwsu9yjhk7zjud5zwwmt0crqyjynkm

An app constantly monitors this designated address in the background and if it receives incoming transactions, it checks the sender address. If the sender has claimable RNR rewards, the app will send back the 2 ADA (less the trx fee) and the claimable RNR rewards, within 2 minutes.

In Cardano right now, a minimum amount of ADA is required to be sent together with token assets. We cannot send tokens only. This is why we need you to send 2 ADA first, in order to claim your RNR tokens.

This “minimum ADA” amount varies, depending on the length of the token’s name. (The longer the asset name, the more storage space it occupies in the ledger, so the higher the minimum ADA amount required.) For the RNR tokens, only 1.444443 ADA is really needed. But it’s hard to remember… plus, there’s still the variable transaction fee. 2 ADA is much easier and more convenient.

Notes:

  • Since the claiming of these RNR rewards entail usual blockchain transaction fees, it is ideal to let your rewards accumulate for a while before claiming.

  • DO NOT send any ADA to the designated address if you do not have any claimable RNR yet. Our app will not send you back your ADA nor any RNR. The ADA you sent will just be considered a donation.

  • If you do not receive back your ADA + your RNR rewards within 10 minutes after sending the 2 ADA, get the transaction ID and message us on Telegram: https://t.me/phrck and tag me (@nimrodf) in your message.

 

What the heck is $RNR and what is it good for?

We are working on cool and actually useful stuff that will soon be running on the Cardano blockchain. These are software that will be provided by PHRCK as services for the Cardano community. RNR will be the token required to access these services.

RNR tokens are given away for free to the delegators of PHRCK stake pool in recognition of your support, you awesome people! This way, you’ll effectively be able to access for free the services we’ll be offering to the community.

One of these is actually already live - our multi-asset bulk sender. And in the works right now are our NFT minting tool and an actual automated marketplace!

For more about $RNR, visit this post.