Secure Parking Summary

Parking is a tool to secure your GSX and the network.

Token Parking provides personal GSX protection (even if your wallet is stolen, the funds cannot be moved, but Gen6 Governance can help you to restore them), network security and stability.

Parking allocations are calculated through weekly cycles but you can always start reclaim your tokens with allocations adjusted based on the time they have been parked. Wednesday Cycles: Token parking and allocations are based on weekly cycles that start every Wednesday at 00:00 UTC. Unparking takes 4 cycles. Flexible Unparking: You can unpark tokens at any time, but allocations are calculated based on complete weeks parked. Tokens go through a so-called 'cool-down/unparking' period and will be available after the Wednesday cycle of the given week.

If you have parked your tokens and got your account compromised, immediately contact: https://gen6.app/identity/gen6! The community will help you to recover your identity and your funds.

What is happening behind the system?

In addition to security by locking GSX in the Secure Token Parking Pool, the system also allocates rewards for the reason these GSX tokens cannot be used for anything until they are unlocked. Hence PRP is allocated. PRP = Parking Reward Percentage

When you park your GSX tokens, they are added to the Secure Token Parking Pool, which influences the additional allocation percentage. Note that the larger the pool (the more GSX is parked), the lower the PRP becomes and vice versa. Additional Allocation Percentage (PRP): The PRP is determined by the total number of tokens in the parking pool, and it is updated every week. The breakdown is as follows: ● 1 - 50k tokens in the pool: 15% PRP ● 50k - 100k tokens in the pool: 14.5% PRP ● 100k - 150k tokens in the pool: 14% PRP ● 150k - 200k tokens in the pool: 13.5% PRP ● 200k - 250k tokens in the pool: 13% PRP ● 250k - 300k tokens in the pool: 12.5% PRP ● 300k - 400k tokens in the pool: 12% PRP ● 400k - 500k tokens in the pool: 11% PRP ● 500k - 600k tokens in the pool: 10% PRP ● 600k - 700k tokens in the pool: 9% PRP ● 700k - 800k tokens in the pool: 8% PRP ● 800k - 900k tokens in the pool: 7% PRP ● 900k - 1M tokens in the pool: 6% PRP The last threshold is when the parking pool reaches 900k - 1M tokens (and above), with a percentage of 6% PRP.

Wednesday Thresholds

Each parking period is weekly, and the allocations are calculated every Wednesday at 00:00 UTC. If you park tokens before Wednesday, your tokens will earn allocations for the upcoming week starting from Wednesday. Unparking tokens also follows the Wednesday cycle: any unparked tokens will be returned with accumulated allocations on the next Wednesday.

Compound Allocations

The parking allocations are distributed weekly but can only be received at the end of a full week. You can unpark your tokens at any time, but the allocations will be based on the complete weeks they were parked.

Example

Let’s say you park 100 GSX tokens before Wednesday when the total parking pool is between 1k - 50k GSX tokens (PRP: 15%). PRP (15%) is applied for the entire week. At the end of Week 1, you would have earned approximately 0.288 GSX (100 GSX * 15% / 52 weeks). If you decide to unpark your tokens after 4 weeks, your total will include the accumulated allocations for those 4 complete weeks. Total GSX after 4 weeks = 100 GSX + 1.152 GSX (compound reward for 4 weeks).

Important Warning: Unparking Your Tokens and Allocations

Please note that you can only access your tokens if you unpark (unstake) a certain amount of your parked tokens. Even if you unpark a minimum of 0.1 GSX, this triggers a mechanism that moves all your accumulated rewards into the unparking state. Key Point: When you unpark any amount of your parked tokens, ALL of your additional allocations will be moved into the unparking state, and they will be available after the following Wednesday cycle. Whenever you unpark any amount of your tokens, your additional allocations will also enter the unparking state and will only become available after the next Wednesday threshold.