Dear Users,
We at Phemex are committed to continually enhancing the value we offer to our users. In line with this commitment, we are pleased to announce the introduction of a new PT Staking Annual Percentage Rate (APR) calculation mechanism that will further optimize the earning potential for all our stakeholders. The new mechanism will take effect on March 1, 2024.
The APR will now be calculated using the following formula:
APR= Annual rewards / Current total vePT
Annual rewards = Fixed PT amount *365
Furthermore, to provide a more consistent and predictable earnings structure, the reward calculation will also be updated. The 5-minute earnings will no longer be based on the previous day's PT buyback but will instead be calculated using the annual rewards, apportioned daily.
The revised formula for calculating a user's earnings every 5 minutes is as follows:
User’s 5-min Earnings = User’s Current vePT / Total vePT × (Annual Rewards / 365) / 24 / 12
*User’s current vePT is the snapshot of the user's current vePT value at the end of every 5-minute interval, such as 00:54:59.
*Total vePT is the total vePT value at the time of the snapshot.
We believe these changes will significantly benefit our community by providing a clear, transparent, and beneficial earnings mechanism. We look forward to your continued support and participation.
Happy Trading!
The Phemex Team
