Flight Deck

The Flight Deck is where users can stake GSHARE to earn emissions of GLX during expansion phases. An expansion phase is when the GLX:GLMR time-weighted average price (TWAP) is greater than 1.01.

Locking

One of the most important things to know about the Flight Deck is that GSHARE staked there are locked for 6 epochs, including the one taking place at the time. An epoch lasts for 6 hours, which means the shares will be locked for 5 epochs x 6 hours + time remaining on current epoch = 30–36 hours until they can be withdrawn.

Additionally, any GLX rewards earned are locked for 3 epochs, 12–18 hours from the last reward claim, deposit, or withdrawal.

Any action you take with the Flight Deck — depositing, withdrawing, or claiming rewards — will reset the clocks for claiming rewards and withdrawal. This means it will be another 12–18 hours until you can claim and another 30–36 hours until you can withdraw.

If you wish to claim rewards and withdraw during the same epoch, use the CLAIM & WITHDRAW button, which withdraws all shares and all rewards. You’re free to restake part of your shares immediately if you don’t intend to withdraw all of them.

Expansion phases

An expansion phase is when the GLX:GLMR TWAP is greater than 1.01.

The TWAP is calculated at the change of each epoch. For Galaxy an epoch lasts 6 hours. A new epoch begins after 6 hours have passed and the allocateSeigniorage function is successfully called on the Treasury contract. This calculation decides other functions of the Treasury as well.

Contraction phases

So far we’ve talked about the Flight Deck and its rewards, however there are times when staked GSHARE may not be earning. These are the contraction periods when TWAP is below 1.

In order to keep the price of GLX pegged to GLMR, if its price falls below GLMR's price, GLX emissions are halted. Because of this, no GLX rewards are paid out to GSHARE stakers in the Flight Deck until peg is regained.

Debt phases

Once peg is regained, GLX emissions resume, however the Flight Deck will not be printing at full power yet. The Treasury has a responsibility to pay back bond holders who bought during contraction, so 65% of GLX emissions will be sent there until all debt obligations are met.

This cuts into the Flight Deck's rewards, so APR will drop for a time. However the normal rate of earning will resume once the Treasury holds enough to repay its debts.