For investors
Staking PBTC for COAL
Stake PBTC and earn COAL every second. Your rewards grow with a time boost of up to 2×, which you keep even if you withdraw part of your stake.
New COAL is only ever created for stakers. Stake PBTC on the Earn COAL page and rewards accrue continuously from a fixed yearly budget that all stakers share. COAL can also be bought and sold on the trade page like any other token.
How rewards are calculated
The pool has a yearly COAL budget (20M in year one, halving roughly every two to three years, see below). Every second that budget is split across all staked PBTC in proportion to each staker's weight: staked amount times time boost. So your share depends on how much you stake and how long it has been staked.
The page shows this as Base APR (what 1 PBTC earns at 1× boost) and Your APR (base APR times your boost), both in USD terms using the oracle prices of PBTC and COAL.
The time boost
Your boost starts at 1× and goes up one step every 15 days, reaching 2× after 90 days (6 steps). It is based on how long your PBTC has been staked and keeps counting as long as you have PBTC staked.
- Adding more PBTC blends the new deposit into your stake's age, weighted by amount. Topping up a large, old stake with a little barely moves it; adding a lot to a small stake pulls the age down a good way. Whether that costs you a step depends on where in the 15 day cycle you are.
- Claiming rewards does not change the boost.
- Withdrawing part of your stake does not reset the boost. What stays staked keeps its age.
- Withdrawing everything resets the boost to 1×. Staking again starts from zero.
Tip
If you need some PBTC back, withdraw part of it. The withdraw dialog warns you if the amount you entered would empty the stake and reset your boost.
Staking, claiming and withdrawing
- Stake: enter an amount, approve it with a signature and confirm the transaction.
- Claim: mints your unclaimed COAL to your wallet whenever you like. Rewards keep accruing whether you claim or not.
- Withdraw: returns PBTC to your wallet, any amount up to your staked balance. There is no lock-up.
Emission schedule and supply
COAL is capped at 100M. 80M is paid out to stakers over ten years, 10M sits in a permanently locked liquidity pool on Base, and 10M is reserved for the ecosystem fund. The yearly budgets are 20M, 16M, 12M, 8M, 6.4M, 5.6M, 4M, 3.2M, 2.4M and 2.4M.
What COAL is for
COAL is meant to be burned. Burning it gets you:
- a launch fee discount, see Fees and payment
- early access to new presales when you hold at least $10 of COAL
- Heat for Coal Boost campaigns
Every burn permanently reduces the supply.