xARGO
Introducting xARGO
xARGO is a time-locked version of ARGO which allows you to vote in governance and earn protocol fees. There is a 28 day unstaking period for xARGO. xARGO can be obtained by either staking your ARGO, or via liquidity mining rewards.
Staking and Locking Mechanisms
Actions to take after obtaining xARGO:
1. Pledge xARGO
You can pledge your xARGO in the Argo's pledging module. Doing so will provide you with the following benefits:
Share of Protocol Revenue (Yield in CRO): 50% of all protocol fees will be routed to xARGO pledgers
Voting Power: Voting power in governance votes
Earning Penalty fees: Penalty rewards from xARGO holders who instant unstake.
Boosted Vaults APRs: Boosted APRs applied to Argo DeFi Vault APRs
2. Wait 28 days to unstake xARGO into ARGO
Should you decide to unstake xARGO back into ARGO, one option is to wait for the 28 days unstaking period to expire. At the end of the unstaking period, you'll receive ARGO.
3. Instant unstake xARGO into ARGO (50% penalty fee)
You will have the option to break the 28 day xARGO unstaking period and receive ARGO instantly. However, you will have to forfeit 50% of your xARGO value as a penalty fee.
75% of the penalty fee is burned and while 25% is redistributed proportionally to xARGO pledgers.
Example:
Bob has 80 xARGO and wants to unstake it instantly for ARGO.
xARGO Penalty = xARGO * 50% Penalty Fee
xARGO Penalty = 80 xARGO * 50% = 40 xARGO Bob will essentially pay 40 xARGO as penalty and receive only 40 ARGO in his wallet.
30 xARGO will be burnt, 10 xARGO will be distributed across xARGO pledgers
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