Staking V2

Now that we are in the last stages of preparing to deploy Staking v2, let’s take some time to examine what to anticipate in the next few weeks. We are the first in our industry to create a revolutionary method that attempts to further incentivize active player engagement. Below we dive into all the details and mechanics you need to know.

Stake here:
https://cryptounicorns.vault.inc/#/

I. Staking v1 vs. Staking v2 contract

Let’s first examine the primary differences between the two contracts.

The first major distinction is ownership of the contract. Staking v2 permits the CU DAO (represented by the Laguna Games team) to have majority control over the staking contract via a ⅗ multisig. This considerably mitigates any possible risk by ensuring that changes can only take place to this contract with the DAO’s knowledge and permission.

Next, the new contract should permit the purging of expired deposits, allowing the DAO to effectively revoke rewards and voting power from expired deposits until they are restaked. This was a weakness in the original contract and one we’ve now mitigated.

Also, Staking v2 emphasizes staking reward allocation in favor of active users over passive ones. In addition to obtaining sRBW boost according to timelock, players may also receive sRBW boosts based on the badges they possess and delegate. In the past, the sRBW conversion a player would receive was solely based on their selected time-lock. Below is a quick example comparing the old and new staking contracts:

Let’s consider a player that staked 100 RBW for 1 year and had a cumulative badge bonus of .25.

• Old Contract — 100 RBW staked * timelock (4) = 400 sRBW received
• New Contract — 100 RBW Staked * ((timelock (4) + badge bonus (.25)) = 425 sRBW

We’d like to again emphasize that a badge MUST be delegated in order for a deposit to receive its sRBW bonus. If a badge is not delegated, the player will not receive its corresponding boost when making a deposit. You only have to delegate a badge one time, to each pool type (RBW & RBWLP) after it’s received.

Lastly, in addition to increasing the relative amount of staking rewards a player may receive, the sRBW boost also improves their relative voting power in governance. As a community-owned IP, it is essential that active players in our ecosystem have the ability to properly represent themselves in governance votes.

II. Staking v2 Launch Process

Now that we’ve covered the differences between the two contracts, let’s examine the implementation phases.

The following six phases will comprise the Staking v2 implementation:

1. Badge Distribution: January 13, 2023
2. Badge Delegation: April 13, 2023
3. Staking v2 Website Launch: April 13, 2023
4. Staking v2 Reward Activation and Release of Snapshot: April 17, 2023
5. Staking v1 Deposit Migration: April 20, 2023
6. Staking v1 Contract and Website Deactivation: April 20, 2023

A. Badge Distribution Period

All badges earned in 2022 were distributed on January 13, 2023. This ensures that all players have custody of their badges prior to the badge delegation period. Distributed badges include:

• Fall Leaderboard Badges
• Voting Badges
• Governance Council Season 2 Badges

B. Badge Delegation Period

The badge delegation period will officially begin on April 13, 2023, via Vault’s website.

During this time, old staking contract deposits have not been migrated. To ensure that badge bonuses are applied to the migrated deposits, players should delegate their badges to their staking wallets prior to migration. We also plan to publish a snapshot listing the deposits and badges delegated before April 17, 2023. This should give players a preview of their deposit and boost positions prior to migration. To make it to the snapshot, it is best to delegate the badges before the snapshot. Since the actual migration will not be until April 20, 2023, badges delegated after the snapshot but before the migration will still be applied to the migrated deposits but just won’t be shown in the snapshot preview.

As it has been some time since we first discussed badge boosts, let’s recap how they work.

Key Features of the Badge Boost System

• Badges can be delegated from one wallet to another. Players who utilize different wallets for playing the game and staking will be able to delegate the badges from their playing wallet to the staking wallet.
• Badges are delegated individually. Players with one gaming wallet and multiple staking wallets will have the option to delegate the badges from their gaming wallets across their different staking wallets.
• Badges are delegated on a per “pool” basis (RBW & RBWLP), meaning that the badge will need to be delegated to both RBW & RBWLP pools to receive the associated boost for the deposit.
• Badges must be delegated to the staking wallet for the boost to take effect. Simply having the badge in the staking wallet will not activate the boost.
• Delegation of a badge is permanent. Once a badge has been delegated to a particular staking wallet, it cannot be delegated to another wallet.
• Badges don’t leave your wallet when you delegate them.
• There is no limit to the number of badges that can be allocated on a single staking wallet. As long as you have badges to delegate, there is no upper limit to the amount of boost you can receive either.

Please note, each staking wallet can only earn the boost once for each badge type (specified by its pool_ID). A player with two (2) “I Survived Launch!” badges can only receive the bonus for the first “I Survived Launch!” badge delegated.

• The rarity of the badge determines the boost rate, and the boost increases as the rarity of the badge increases. The boost equivalent is depicted in the image that follows.

This above graphic shows the boost rate for badges earned in 2022. This list is expected to grow over the next few years, so we’d like to encourage everyone to look at the boost rate with an eye towards future badge releases.

C. Staking v2 Contract and Website Launch

In conjunction with the beginning of the delegation period on April 13, 2023, the Staking v2 website will officially be accessible via Vault’s website. The Staking v2 contract, however, is not yet seeded at this point so it cannot generate staking rewards yet.

Key Items to Note

• Both the old and new Staking websites will be accessible during this time but only the Staking v1 contract should be able to generate rewards.
• The old website for staking will only be decommissioned once the migration is complete.

D. Staking v2 Reward Activation and Snapshot of Deposits

On April 17, 2023, a snapshot of all deposits on the old contract will be made available for the community to review. This will allow everyone to verify the correctness of their own deposits and their boosts based on the badges they delegated prior to this date. During this time, both staking websites should be accessible and both contracts should be generating staking rewards. We strongly suggest interacting only with the new Staking v2 contact from this point forward to ensure a smooth migration process.

E. Staking v1 Deposit Migration

On April 20, 2023, when all of the deposits from the old staking contract have been migrated to the new Staking v2 contract, the old contract will stop disbursing rewards. During this time, only the Staking v2 contract should generate rewards.

F. Staking v1 Contract & Website Decommissioning

The Staking v1 website will be decommissioned at the end of the migration period along with its ability to disburse rewards. The official website and official social media accounts should also have been updated to reflect the new Staking webpage.

That’s it, everyone! We anticipate completing this laborious endeavor before the end of April. Please be patient as we continue to collaborate with the Vault team to guarantee a seamless migration. Moving forward, we’re excited to see the most active and loyal players continue to actively shape the direction of our DAO through meaningful governance votes with the additional voting rights that Staking v2 brings them.