User interactions

This is a basic description of how to navigate the complexities of the MIRO portal

1) A new staking week is initiated every Monday from 00:00 UTC to 24:00 UTC. If a user joins or initiates a stake on any day outside of Monday (signalling the start of a new weekly session) their starting date will be pushed to the next Monday (UTC timezone). For example, if a user initiates a stake on a Wednesday of week 1, their start date will be pushed to the following Monday of week 2 and the first voting session the user can participate in will be on the Friday of week 2. This is done to ensure that the reward distribution is fair for all users that have been staked for week 1. It therefore makes more sense for all users to start their stake on a Monday, albeit if they don’t mind being placed in a queue until the next weekly session then they can stake at any time. Staking on a Sunday of week 1 is a short queue time until monday of week 2.

1 vMRHB = 1 vote. Therefore, any stakes that do not equate to 1 vMRHB will not be eligible to vote and subsequently claim any rewards

2) Every Thursday evening (Approx 00:00 UTC) the Marhaba DAO will send the scheduled amount of MRHB tokens for that week to the staking contract. Once this is done, a user will be able to see what their ‘Weekly Reward’ would be if they were to exercise their voting power. The voting portal will open up after the MRHB tokens are sent to the contract. The voting portal will be open for 3 days for all users to vote on any approved proposals. Once a user votes, their ‘Weekly Rewards’ for that week will become ‘Claimable’ and can be claimed at any time. If a user fails to vote during this window, then they will forfeit their weekly ‘Weekly Rewards’. Those forfeited rewards will be added to the rewards for the following week to be shared amongst users. Therefore any rewards that are unclaimed are cumulatively added to the following weeks rewards for all stakers to share.

3) Because people are in different time zones and weekdays will differ for different users depending on where they are, we will use a generic timezone of UTC (GMT+0) and implement an hourly countdown. The countdown will signal the end of a week and the beginning of a new week. It will start at 168 hours and once the week has 72 hours left (friday - monday) until the new week starts the front end will display that the voting portal is open. Once a new week starts there will also be a 24 hour countdown to allow new stakers to join otherwise any new stakers will be placed in a queue for the following week. We will use the following color theme in conjunction with the countdown:

Green = new week has started with 168 hours and users have 24 hours to join or they will be pushed to the following week if they still decide to stake.

Yellow = when 24 hours have passed and hours remaining until new week is 144.

Red = When 72 hours are remaining signaling that rewards have been deposited to the contract and the voting portal is open. After 72 hours a new week of 168 hours will start.

Once the voting portal opens up, a user only needs to place one vote in order to claim their rewards. The user is however free to vote on as many proposals that exist. The user is also free to distribute or allocate their voting power (vMRHB) across as many proposals as they wish. It is advised that users exercise all of their voting power for that week. Each week the users voting power will reflect their vMRHB balance. If the user exercises all of their voting power for that week it will be renewed in accordance with their vMRHB balance for the following week.

A user can top up their existing stake with more MRHB and/or extend the time lock on their existing stake only if they have an active vMRHB balance and the voting portal is not open. vMRHB balances that start in the following week are considered inactive. They become active once we enter into a new weekly session. Top Up/Extend is disabled for the 72 hour voting session. This is to ensure that once voting commences the reward received by users doesn't change.

Both Top Up/Extend will increase a user’s vMRHB balance and in essence their voting power and pro-rata share of the weekly rewards. The reason behind doing this would be due to the decreasing nature of vMRHB and subsequently the users voting power and share of rewards.