Knightswap raids

A partner places a fixed reward-token allocation in the raid contract. The contract distributes that budget evenly over the raid's duration, with each participant receiving a proportion based on their KNIGHT stake divided by the total KNIGHT staked in that raid.

With your stake unchanged, deposits by other participants reduce your share of subsequent rewards. Their withdrawals increase it. The changed proportion applies to rewards distributed from that point onward.

LP farming is one way to obtain KNIGHT for a raid, but it isn't a prerequisite for a holder who already has KNIGHT. An eligible farm accepts liquidity provider tokens and distributes KNIGHT; a partner raid accepts KNIGHT and distributes its partner's token.

The displayed annual percentage rate (APR) reflects the pool's conditions at that point. More KNIGHT sharing the same reward stream reduces the number of partner tokens earned per staked KNIGHT over the same interval. With the staking total and distribution schedule unchanged, a higher partner-token price raises the displayed APR, while a higher KNIGHT price lowers it.

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Those price movements change the valuation of the stake and rewards without adding tokens to the reward budget. Annualizing the rate doesn't extend the raid's distribution period to a year or fix the eventual value of the tokens earned.

The Raids guide describes the field labeled "End" as the number of blocks remaining. Its calendar equivalent is an estimate because block times vary. Each raid contract has an end block that can't be changed. Once that block is reached, the raid moves to Inactive, where its KNIGHT stake can be unstaked.

A renewed partnership uses a new raid contract. The guide describes renewed raids as generally being deployed 24-48 hours after the previous raid ends; it doesn't set a guaranteed deadline for every renewal. Renewal therefore doesn't extend the old contract's reward period.

Linked farms have a different lifespan: they don't have a raid-style end block and can continue while the partnership is renewed. If the partner doesn't renew, the linked farm is also removed.

For the partner-token raids it describes, the Raids guide specifies no pool fee for depositing or unstaking and no staking timelock. The end block limits the reward period; it isn't a requirement to keep KNIGHT staked until expiry.

KnightSwap's March 23, 2023 staking-pool announcement covered the separate pool that stakes KNIGHT to earn KNIGHT, accessed through the raids page. In that announced design, flexible stakes could be withdrawn without a lockup or penalty, while locked stakes couldn't be withdrawn before their selected term ended.

• Identify the reward token and staking mode. A locked KNIGHT-to-KNIGHT position has different withdrawal terms from the documented partner-token raids.
• Read APR alongside the total KNIGHT stake and remaining blocks. Your share of the stake and the time left in the reward period both affect what the position can earn.
• For an expired raid, distinguish its Inactive position from any renewed contract. The original end block hasn't been extended.