Migration to a New Parametric Staking pool

DSLA Core Team
Written by DSLA Core Team on
Migration to a New Parametric Staking pool

APR Boost in Period 0

Staking rewards for Period 0 of the Parametric Staking experience were higher than expected, almost 10% for the month.

That’s about 120% APR, which is conceivable with Parametric Staking, but the upside price performance of the DSLA token in November didn’t justify such reward level.

What Happened?

In short, reward levels were misconfigured in the Parametric Staking SLA that was deployed.

This had the unintended result of increasing the Parametric Staking APR. With the token price performance over the past month, Parametric Staking APR should have been 12% APR, or 1% for the month.

However, due to the reward level misconfiguration, rewards were calculated at a rate of 120% APR, which resulted in a 10% reward for Period 0.

What’s Next?

1/ Unstake from the current staking pools by December 19, 2022.

2/ Do not re-stake. If you restake to the current pool, your funds will be locked through the next period, but won’t earn any rewards.

3/ A new Parametric Staking Pool will be deployed on December 29, 2022 at https://dsla.network/stake

As previously communicated, the APR on this pool will be variable, from 12% to 300%, depending on the upside price performance of the DSLA token.

Arbitrum & Polygon

This migration plan to a new Parametric Staking Pool only applies to the Ethereum version of DSLA Protocol.

Verification is still pending on Arbitrum and Polygon network, migration dates for these networks will be shared early January.

Impact

  • All Period 0 stakeholders enjoy a 10% reward instead of the expected 1%;
  • New stakeholders will have an opportunity to join the new staking pool;
  • We skip a beat in December, for the better.

While roadbumps are not unexpected when you’re launching new and innovative products, they’re seldom ideal. We’re glad that, in this case, the result was a nice bonus for our community, who are pioneering Parametric Staking with us.


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DSLA Core Team

DSLA Core Team

The team behind DSLA Protocol, and the DSLA family of products.