Let’s be a bit more Regal
Today we start the first of many announcements and cool things that we have planned in Q1 of 2024. We’re excited to bring you part of what we’ve been game-planning, networking for, designing, and developing over these next couple of months. To preface this post, this is not Renaissance Part 3, but the beginning of our major change to Plunge, our stake pool landmark.
As it stands, Plunge operates as a lossless lottery, where winners receive greater rewards than if they staked normally by pooling everyone’s funds together. While the idea was fun and had some early success, we were not able to keep our delegation high, as the risk was too great for many large accounts, and other pools seemed to have a better return for many users. To solve this issue, we’re making a big change to Plunge, although it is remaining a stake pool. Pending rewards will be sent within the next week.
The new name for our stake pool and program is REGAL. We’ll be using the same pool, so existing PLUNGE delegators do not have to redelegate. However, this pool will operate like a normal stake pool, with a 5% margin and regular distributions. Tasama district holders will receive $SOC from the margin of the pool, just like with PLUNGE. We anticipate that a standard stake pool will draw a lot more volume and create a better landmark for users. It will also allow us to create a streamlined way to target those in the stake pool with our future plans.
The new pool is live immediately, and you can delegate here. For the next 2 epochs, it may still read PLUNGE and 100% margin, and regular rewards will be received once that period passes. By delegating now, you’ll continue to operate normally in your current stake pool until that 2 week time period passes.
But it wouldn’t be TAS without a little bit extra. We’re starting what internally we call TASBEP (The Ape Society Blockchain Exploration Program). In a mission to expand the footprint of our great society, we’re headed cross-chain to open validators and nodes on different emerging networks. Under the brand of Regal Nodes, we’re going to slowly add new chains. We already have some in mind, but please make your voice heard on our Discord, so we can see what apes are thinking as well. These pools will be our first step to expanding the brand and IP to the next level.
Oh, and more thing…some drops from the air may safely land in the wallets of those who stake to REGAL.
Visit us at www.regalnodes.com.
