RayStake — Advanced Cardano Staking

XRAY | Network
4 min readMay 6, 2022

RayStake is a service operating on the Cardano blockchain, that allows you to stake various tokens, and track and withdraw rewards. At launch, the service consists of several centralized programs related to the distribution of Ray Network’s governance token — XRAY. At a later stage, the application will represent a classic Yield Farming platform that enables DeFi for Cardano and other blockchains.

You can install the PWA app on iOS, Android, macOS, Windows, Linux or use the web version here — https://raystake.io

Use the reward calculator — https://raystake.io/cardano/calculator/

FAQ — https://raystake.io/cardano/faq/

The current active staking programs for Cardano will be described in detail below:

  • ADA Staking & XRAY ISPO — Stage 1 & Stage 2
  • LP / XRAY Staking — Stage 1 & Stage 2

ADA Staking & XRAY ISPO Program

Stage 1

Stage 1 is designed to conduct an Initial Stake Pool Offering (ISPO) of the XRAY token. To be eligible for this initial token distribution program you need to delegate ADA to any of the Ray Pools →. That will allow you to get rewards every epoch in both ADA (as per the usual Cardano protocol accrual of ~4.4% APY) and also XRAY tokens (depending on dynamic Live Mining Rate). This Rate is calculated based on the token distribution schedule which started in epoch 235, and rewards were divided between delegators on a pro-rata ADA staked basis — 888,888 XRAY were distributed each epoch. The Rate at epoch 274 started a gradual decrease of 0.444% each epoch (every 5 days).

This phase will run until epoch 500, and a total of 101,538,200 XRAY tokens are scheduled to be given away.

Fully consistent with the definition of a Fair Launch giveaway, the Ray pools’ Margin Fee is 0% for this stage.

A 15,382 XDIAMOND NFT bonus was available for early delegators (from epoch 235 until epoch 275). Each XDIAMOND is pegged to 100 XRAY, so 1,538,200 XRAY tokens were rewarded during the Early Delegators Bonus program based on stake size and time of participation.

ADA Staking & XRAY ISPO @ Epoch 337
ADA Staking & XRAY ISPO @ Epoch 337

Stage 2

Ray pools will continue to operate as regular nodes (stake pools) that will keep the Cardano network running. This stage is tentatively scheduled after epoch 505 and the Margin Fee will be equal to 1% as maintenance fee.

LP / XRAY Staking Program

Stage 1

Also included in the initial phase of distribution, this program will feature substantially large APY rewards for mass adoption of XRAY tokens. The first stage can be considered a centralized process that tracks and awards at every 2000 blocks the wallet addresses containing XRAY and LP tokens (~12 hours, given current network settings).

You have to keep the tokens from the table below in your wallet. Your wallet must be delegated to any Cardano pool (the stake key must be registered), but it is recommended to do it in Ray Pools →.

Token                    Base APY           APY w/ Max BoostXRAY                     20%                76%
LP SundaeSwap (0.3%) 100% 380%
LP RaySwap 100% 380%
LP Minswap 100% 380%
LP Wingriders 100% 380%
LP ErgoDEX 100% 380%

Your APY can be increased with 280% by holding XDIAMOND NFTs in the same wallet as the staked tokens. The first XDIAMOND offers a 50% APY boost, the second offers a 30% boost and the next 100 NFTs will boost the base APY with 2% each. The table above shows this clearly.

So you can provide liquidity to any DEX in the list above and get high APY in the form of XRAY rewards. The program started on January 1, 2022, so the tokens mentioned in the table ALREADY participate in the staking process, and they will gradually get “Active” status (Ray robot-automation makes all snapshots and will add the corresponding balances).

For early liquidity providers to SundaeSwap between January 1, 2022 and April 1, 2022, there is a bonus of 5,000,000 XRAY distributed based on the size of the pool’s ownership portion and time of participation. The providers with less than 4,650 XRAY accrued in this period will receive 4,650 XRAY, so another 3,884,503 XRAY tokens will be allocated for rewarding the rest of the providers that had a bigger participation. In total, the bonus will be 8,884,503 XRAYs.

The program will continue until 83,848,503 XRAYs are distributed. A total of 75,000,000 XRAYs are scheduled to be given away, with an additional 8,884,503 XRAYs to early program participants.

LP / XRAY Staking Program @ Block 7212000
LP / XRAY Staking Program @ Block 7212000

Stage 2

This stage will be a classic Yield Farming process, where anyone can create a stake pool for any token, specify an APY, and all participants will receive their rewards based on previously set conditions. It’s a fully decentralized application based on Cardano’s validator (smart contract). There will be 50,145,921 XRAY allocated for this purpose.

Next steps

Withdrawals will be available from June 1, 2022.

After completing the XRAY token distributions (Stage 1), RayStake will operate as a DApp where everyone can create their own Yield Farming pool. When creating pools, there will be various options such as setting APY, expiration time, boost conditions, and more.

Buy XRAY or get LP tokens: SundaeSwap | Minswap | Wingriders

Buy XDIAMOND: SundaeSwap | CNFT.IO

Information: XRAY Token | XDIAMOND NFT

Links: Ray Network| Twitter | Telegram | Discord | Reddit



XRAY | Network

An advanced DeFi ecosystem for Cardano blockchain platform