Major Updates: HODL your SD Tokens + Vesting Bonus

We have some super exciting updates to share with you!

Major Updates: HODL your SD Tokens + Vesting Bonus

We have some super exciting updates to share with you!

Update 1: Stake Pools to Liquid Staking Switch without losing farmed SD (21–24 day unbonding will be applicable)

Update 2: Vesting for Luna <> LunaX Farming

P.S. Information regarding additional rewards for Luna <> LunaX LP will be shared by 6th Feb, 2022.

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Update 1: We’ve Enabled a Way to Retain Your SD Token Rewards

We got some feedback. And, we acted on it ASAP. That is the Stader way.

Several community members wanted to explore liquid staking, but couldn’t unstake from stake pools due to losing farmed SD tokens. Some of them went ahead and unstaked after Jan 20th to move to LunaX.

So, we found a solution to help you transition from one to the other, while keeping your farmed SD tokens as is.

Key Points:

  1. Applicable only for stakers who have undelegated after Jan 20th EOD PT (Feature live till further update)
  2. You need to move Luna >= than the amount staked on stake pools to Liquid Staking to be eligible
  3. You can move from Stake Pools > LunaX or LunaX<>Luna LP
  4. For users who want to move their Luna now, this is not redelegation hence the regular unstaking of 21–24 days will be applicable
  5. It is technically infeasible to re-delegate to LunaX pool due to smart contract constraints.

Here’s how it will work:

Step 1:

On both ‘Withdraw Funds’ and ‘Withdraw Rewards’ screens, you will now be shown a ‘Get LunaX’ button and clicking that will convert all your Luna to LunaX. LunaX can be used to further participate in DeFi once integrations are done.

If you want to provide Luna <> LunaX LP, you can withdraw Luna and do this manually. For steps to provide LP, please refer to this Link.

Please ensure you provide the LP immediately so you don’t miss out on the weekly snapshot.

Step 2:

Click on the button and instantly see your LunaX holdings go up.

You do not lose out on any SD tokens as long as LunaX balance is >= Luna unstaked from stake pools.

When is it going live?

We will be taking the update live by mid of next week.

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Update 2: Vesting For Luna <> LunaX Farming

As announced earlier, due to legal and regulatory constraints, we will only be able to do the SD Token Generating Event (TGE) 40 days after the CoinList sale. Hence you will not be able to claim your vested SD rewards till our TGE.

That is why we want to reward you for your support in continuing to retain vested rewards until TGE by offering an APY of 50% on your vested SD rewards.

Refer to the table below for clearer understanding:

What will remain the same regarding SD rewards?

  • First tranche of farmed SD tokens will vest on Feb 9th, 2022. SD Tokens farmed will not vest for users who remove their LunaX <> Luna LP before February 9th, 2022 eod PT.
  • Vesting schedule of the SD tokens remains the same (excluding above changes) as communicated earlier.
  • Continue to provide LP for [LunaX <> Luna LP] until February 9th (23:59 PST) for at least 50% of farmed SD rewards to vest. Removing LP before this date will result in loss of SD farmed.

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