A user may close a stake at any time. Depending on the stake’s status (where the stake is in its lifecycle), different things will happen:
Closing a Pending stake – the stake INTR$T shares are destroyed. The entire stake principal is minted back to the user, without interest or penalty.
Closing an Active (premature) stake – the stake shares are destroyed. The stake principal is penalized (see below) and minted back to the user along with all INTR$T accumulated thus far.
Closing a Mature stake – the stake INTR$T shares are destroyed. The entire stake principal and all interest accumulated is minted back to the user. There are never any penalties for closing a Mature stake, no matter how late.
The penalty deducted from the principal (stakedSwapp) when closing an Active stake is as follows:
If the stake is one day long: penaltyAmount = stakedSwapp × 0.1
If the stake is two or more days long: penaltyAmount = stakedSwapp × (.1 + .8 × ((daysLeft – 1) / (stakedDays – 1)))
Thus, if you close an Active stake that was 100 days long on its final day before maturity, you get a 10% penalty applied to the principal. If you close the same stake on the first day of it being Active, you get a 90% penalty. The penalty scales linearly between those two extremes.
Any such SWAPP penalized from a stake’s return is earmarked for distribution to all active stake shares that day. These penalty distributions are only realized by those stakes’ shares when each of those stakes end.