Sphere Weekly Report — CW 75
This Week in Sphere Ecosystem News & Updates
Hey Sphereans, welcome to this week’s issue of the Sphere Weekly Report!
The Ecosystem is quickly preparing to go full throttle, and many exciting things are currently in the works and almost ready to be revealed to you all.
Still, there has been no shortage of thrilling information for you to keep up with this week, so without further ado, let us begin!
Sphere’s First Kick Period
Sphereans in our community Discord server and those who have been keeping up with the news are already aware that the Sphere Earnings Pool experienced its first unlock epochs recently, and the different options that $SPHERE lockers could choose with regards to their tokens. You can learn all about that in the article below:
In last week’s edition of the Weekly Report we also mentioned that the Earning Pool’s kick period had begun.
What Does This All Mean?
To put things briefly, those who did not relock or withdraw their $SPHERE tokens from the pool following the unlock epochs became liable to being kicked from the pool.
Kicking was incentivized as an activity, and Sphereans who were kicked sadly lost a portion of their tokens and earnings.
Furthermore, even those who were not penalized yet and did not relock or withdraw their $SPHERE face losing emission power over time.
As metioned above, kicking was incentivized, with a fee being earned for kicking those liable. This week, however, it was decided that the fee earned from kicking would be changed from 1% to 0.01%.
A gentle reminder to all Sphereans who did not get kicked despite not relocking: we encourage you to relock or withdraw your $SPHERE tokens manually as soon as possible!
Click the link below to see and interact with the Earnings Pool:
Dyson: Emissions Grace Period?
Due to WalletConnect’s latest update, the Sphere Development Team has been working diligently to integrate it into the Ecosystem’s dApps.
For those of you who are not familiar, WalletConnect is a Web3 solution that allows wallets to connect to and interact with dApps, usually Multisigs or smart contracts. Due to this integration process, yield for this epoch was delayed.
What does this mean for Lockers?
Not much! As soon as possible, this epoch’s yield was streamed. Due to the delay, there was a grace period where yield was not emitted, but that was made up for when yield began to be streamed.
We would like to extend our deepest thanks to our lockers and our community for your continued trust and patience. You are what makes the Sphere Ecosystem special.
Once again, this news was revealed in our Discord server first, so we would like to remind you to join in order for you to receive access to all the latest news as it comes out:
Preon Launch: Loading…
The countdown has begun and the release of the Sphere Ecosystem’s much-anticipated CDP protocol, Preon, is imminent.
As a quick reminder of what Preon is:
Preon is a revolutionary CDP lending protocol that is part of the Sphere Ecosystem’s suite of solutions disrupting the DeFi space. It also incorporates some elements of yield farming and concentrated liquidity, with unique tokenomics and synergies.
To get the full scoop on the Sphere Ecosystem’s innovative new addition to its suite of solutions, we encourage you to listen to our Preon AMA recap on YouTube, courtesy of the legendary Price Time.
To mark this momentous occasion, the Sphere Ecosystem has a whole lot of festivities and fun in store, including (but not limited to):
- Entertaining competitions,
- A $PREON token presale,
- Zealy quests to help you understand Preon and gamify your learning experience.
Are you as excited as we are about Preon’s release?
Join our Discord server below and you may have a chance of securing youself a whitelist spot for our upcoming presale!
Thank you so much for reading, Sphereans — stay awesome, and stay tuned for much more soon.
Sphere over and out.
