Moving on to Stage 2

Stage 2

As we know, the distribution of XRAY tokens on the Ray Network is divided into two phases: Stage 1 and Stage 2.

Stage 1 includes programs such as ISPO and high ROI staking. In fact, it is the initial distribution of the XRAY token. As of this writing, ISPO has lasted 143 epochs, and high ROI staking has lasted 57 epochs. During that time, 113,059,691 XRAY tokens have been delivered to ~26,000 wallets.

Stage 2 includes classic staking with a soft ROI of 15% to incentivize engaged users by the Ray Network ecosystem. Stage 2 will deliver 50,145,921 XRAY tokens in subsequent programs:

RayStake & RaySwap: 65%
Minswap: 23%
Wingriders: 3.5%
Sundaeswap: 3.5%
Other: 5%

In third-party DEXs, 35% will be distributed in direct proportion to their XRAY liquidity. Changes are possible depending on changes in the popularity of a particular DEXes, but within 35%.

Approximate allocation of XRAY tokens, will be finalized on November 1, 2022

Transition

To complete Stage 1 and move fully into the DEX era, we have made several key decisions:

End ISPO on November 1, 2022
Terminate RayStake Stage 1 on November 1, 2022
Allocate the remaining tokens as of November 1st, 2022 in equal amounts to all wallets which had interacted with ISPO or RayStake in any way prior to the 7,870,000 block, there were 25,906 wallets in total. Approximately ~55,000,000 XRAYs will be delivered
All accrued rewards and unallocated bonus will be automatically debited to staker wallets on November 1–5, 2022 (so you no longer need to send 2 ADA)

RayStake & Stage 2

RayStake is also moving into Stage 2, namely the DEX era. The main idea of this product is to allow any actor on the Cardano blockchain to create their own “mining” pools with defined ROI, boost with XDIAMOND and other parameters that will affect how much income other users will earn from the token staking specified by the creator in those pools.

This case can be used for various projects to create their own token staking pools, emulate “mining” tokens by other tokens, run simple ISPOs, etc.

RayStake is scheduled to release in early 2023, with a testnet on December 2022. Between November 1 and the release of RayStake, XRAY staking will not be available as it was in Stage 1, during that time you will be able to generate income from Yield Farming on Minswap, Wingriders, Sundaeswap. After the release, we will create a pool of XRAY tokens with an ROI of 15% and an XDIAMOND boost of up to 25%.

XRAY, Tokenomics & Stage 2

After a year and a half from tokenomics creation, analysis of interest in the project during this time, also changes in cryptocurrency regulation in major economies of the world, unwillingness to have institutional investors, we decided to remove Reserve & Buyback round from tokenomics, which will reduce Total Cap by 20%. The total token count will be 324,922,240 XRAY instead of 406,152,800 XRAY, which will have a positive impact on token value and remove unnecessary legal checks from regulators.

During Stage 1, the current XRAY token had an unlocked minting policy, which was done to adapt and finalize the distribution. Tokenomics worked well — project Ray Network is one of the most popular in terms of liquidity involved in various Cardano DEX, so we decided to complete ISPO and Stage 1 to remove inflationary pressure and finalize the distribution.

The New XRAY

After finalization of the token distribution, the new XRAY token with a Total Cap of 324,922,240 XRAY, a locked minting policy, and 6 digit decimals will be implemented on the Ray Network. Token exchange instructions will be published on the OFFICIAL website and twitter account after November 1, 2022.

What’s Next

The website will soon be updated to a new version, with a new tokenomics, new sections, and other important information to help the Ray Network move into Stage 2
PolicyID and Fingerprint of the new XRAY token will be published
A post with Stage 1 analytics in which we’ll share some interesting facts about distribution

Brief Summary

RayStake rewards in their current form will be accrued until November 1, 2022
On November 1–5 all rewards will be automatically debited to the wallets of all stakers
ROI in RayStake Stage 2 will be 15% (boosted to 25% by XDIAMONDs). Testnet November-December, release in January
New XRAY token with locked policy and 6 decimals to be announced soon. Exchange instructions after November 1, 2022
Total Cap will be 20% less

Stay tuned!