# Open Staking

## <mark style="color:orange;">The Door That Is Always Open</mark>

<mark style="color:green;">**Open Staking**</mark> is the staking mechanism available to any <mark style="color:$success;">**$NOON**</mark> holder, regardless of how <mark style="color:$success;">**$NOON**</mark> was acquired (including tokens bought on the open market, tokens after completion of <mark style="color:blue;">**Active Staking**</mark> or that opt out of <mark style="color:blue;">**Active Staking**</mark>).

### TL;DR

1. Any <mark style="color:$success;">**$NOON**</mark> holder can participate in <mark style="color:green;">**Open Staking**</mark>, regardless of how <mark style="color:$success;">**$NOON**</mark> was acquired
2. You place a stake request, and your stake begins at the start of the following month. Until then, you can <mark style="color:$warning;">**modify**</mark> or <mark style="color:red;">**cancel**</mark> your request freely
3. Rewards are proportional to your share of the <mark style="color:green;">**Open Staking**</mark> pool. The pool grows over time through rule-based rollovers from both <mark style="color:blue;">**Active Staking**</mark> and <mark style="color:green;">**Open Staking**</mark>
4. Staking for 12 months or longer vests <mark style="color:$success;">**100%**</mark> of your rewards. Shorter periods vest only a portion, and the unvested portion rolls back into the following month's <mark style="color:green;">**Open Staking**</mark> pool
5. Early unstaking forfeits <mark style="color:red;">**all rewards**</mark>. Unlike <mark style="color:blue;">**Active Staking**</mark>, there is no partial vesting based on completed milestones. You will only receive your staked <mark style="color:$success;">**$NOON**</mark> back
6. <mark style="color:purple;">**Voting power**</mark> is based on your initial staked <mark style="color:$success;">**$NOON**</mark> amount and grows over a 48-month curve, similarly to <mark style="color:blue;">**Active Staking**</mark>

***

We want to make sure voting rights aren't limited to <mark style="color:purple;">**USN**</mark> and <mark style="color:purple;">**sUSN**</mark> holders, as anyone who holds and stakes <mark style="color:$success;">**$NOON**</mark> should be able to contribute meaningfully to our protocol-level decisions.&#x20;

Whereas <mark style="color:blue;">**Active Staking**</mark> allocates rewards based on <mark style="color:red;">**Active Staking Points**</mark>, <mark style="color:green;">**Open Staking**</mark> does so based on your share of the <mark style="color:green;">**Open Staking**</mark> pool each month.

<mark style="color:green;">**Open Staking**</mark> follows a two-step flow:

1. First, you place a stake request, choosing how much <mark style="color:$success;">**$NOON**</mark> you want to stake and for how long. Until your stake begins, you can <mark style="color:$warning;">**modify**</mark> or <mark style="color:red;">**cancel**</mark> this request at any time
2. Second, your stake begins at the start of the next month. <mark style="color:green;">**Open Staking**</mark> starts monthly so that rewards calculations remain consistent. From then on, your <mark style="color:$success;">**$NOON**</mark> is staked and begins earning <mark style="color:green;">**Open Staking**</mark> rewards.

### 1. Maximising allocation

Your rewards are allocated based on your share of the <mark style="color:green;">**Open Staking**</mark> pool each month. The larger the proportion of the pool you stake, the larger the proportion of <mark style="color:green;">**Open Staking**</mark> rewards you can receive. The <mark style="color:green;">**Open Staking**</mark> rewards pool is set at the start of the month and is <mark style="color:blue;">**fixed**</mark>.

However, the <mark style="color:green;">**Open Staking**</mark> reward pool can be increased by rule-based rollovers from the previous month, which are:

* Intentionally unvested tokens from <mark style="color:blue;">**Active Staking**</mark> (including the remaining 90% from immediate claims)
* Intentionally unvested tokens from <mark style="color:green;">**Open Staking**</mark>
* Forgone tokens due to early unstaking from <mark style="color:blue;">**Active Staking**</mark>
* Forgone tokens due to early unstaking from <mark style="color:green;">**Open Staking**</mark>

#### 1.1. Vesting Curve

The vesting curve for the <mark style="color:green;">**Open Staking**</mark> allocation is the same as the Active Staking one:

&#x20;                          **10% + \[ (t / T)³ × 0.73 + (t / T) × 0.27 ] × 90%**, **over 12 months**

Staking for 12 months, 2 years, or 4 years results in <mark style="color:$success;">**100%**</mark> of your <mark style="color:green;">**Open Staking**</mark> rewards vesting, while a shorter staking period (3, 6, or 9 months) results in only a portion vesting. Your <mark style="color:green;">**Open Staking**</mark> rewards become realised only if you complete your selected staking period.

#### 1.1.1. Open Staking Periods, and corresponding vesting schedule

<figure><img src="https://596450103-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FvawK0RJiR8PpG791Q3EH%2Fuploads%2FSb4yyq9yjfnrlD5CYSVu%2FOpen%20Staking%20Periods.png?alt=media&#x26;token=823c9404-513f-432a-abd4-d5ea7b5c0593" alt=""><figcaption><p>Fig. 1 - Open Staking Periods, and corresponding vesting schedule</p></figcaption></figure>

For staking periods shorter than 12 months, the portion of Open Staking rewards that does not vest is treated as intentionally unvested tokens from Open Staking. These tokens are then rolled into the next month's Open Staking reward pool.

At the end of the selected Open Staking period, your Open Staking rewards become claimable together with the initial $NOON staked into the Open Staking pool (at the start of the staking period).

### 2. Leaving early: what happens to rewards

<mark style="color:green;">**Open Staking**</mark> positions can be unstaked prior to completion of the selected staking period as well. However, unlike <mark style="color:blue;">**Active Staking**</mark>, early unstaking in <mark style="color:green;">**Open Staking**</mark> means <mark style="color:red;">**all rewards**</mark> are forfeited and treated as <mark style="color:orange;">**forgone due to early unstaking from Open Staking**</mark>.

You receive your initially staked <mark style="color:$success;">**$NOON**</mark> back, and those forfeited rewards are rolled into next month's <mark style="color:green;">**Open Staking**</mark> reward pool.

> <mark style="color:purple;">**Example:**</mark> If a user staking for a 6-month period unstakes $NOON after 4 months, the rewards roll over to the Open Staking pool in month 5.

### 3. Voting Power under Open Staking

Under <mark style="color:green;">**Open Staking**</mark>, your individual <mark style="color:purple;">**voting power**</mark> is calculated based on the amount of initial <mark style="color:$success;">**$NOON**</mark> you stake into the <mark style="color:green;">**Open Staking**</mark> rewards pool, and is then multiplied by our <mark style="color:purple;">**voting power curve**</mark>:

&#x20;                                  **10% + \[ (t / T)³ × 0.73 + (t / T) × 0.27 ] × 90%**, **over 48 months**

The key distinction from <mark style="color:blue;">**Active Staking**</mark> is that your <mark style="color:purple;">**voting power**</mark> here is calculated from your initial staked amount of <mark style="color:$success;">**$NOON**</mark> rather than vested rewards.

#### 3.1. Leaving Early: what Happens to voting power

If an Open Staking position is unstaked early, your voting power is reduced to <mark style="color:red;">**zero**</mark>.