Phase 2 — what you need to know
Ahead of Phase 1 ending and Phase 2 beginning this Sunday 21st March at 10pm UTC, we wanted to remind you of some of the details, including some important ones to keep in mind.
Phase 2 details
As a reminder, Phase 2 sees both the deposit limit and whitelist removed, allowing anyone to stake any amount.
10,500 BANK will still be distributed per week and Phase 2 will last 2 weeks.
As part of Phase 2, there will be 9 pools:
The 3 DAI/USDC/USDT pools (note these are new pools and you have to unstake and restake to participate in them), 5 new pools (being voted on now on our Snapshot fork, Scattershot, ending on Thursday night at 11pm UTC) and 1 incentivised BANK-ETH liquidity pool.
The split between the pools will be:
- 3500 for the incentivised BANK-ETH pool
- 7000 split equally across the remaining 8 pools (875 each)
Important things to note:
- VERY IMPORTANTLY — Everyone who has been staking in Phase 1 will need to unstake and restake in Phase 2. Phase 1 pools will stop distributing at the end of Phase 1 (Sunday 21st March at 10pm UTC). We will try to make this super clear on the UI but please bear in mind.
- We will have all pools ready a minimum of 12h before distribution starts so everyone has time to check the contract and stake in advance.
- The contracts for the pools in Phase 2 are based on the same template as Phase 1 (i.e. the Synthetix pools contract, which is probably the most battle-tested in crypto). You can check these out on github if you are curious.
If you have any questions, ping us on any of the socials.
Twitter — https://twitter.com/FloatProtocol
Telegram — https://t.me/officialfloatprotocol
Medium — https://medium.com/@floatprotocol
Github — https://github.com/FloatProtocol/
Discord — https://discord.gg/nVCZacJJqM
Scattershot (fork of Snapshot) — https://scattershot.page/#/snapshot.floatprotocol.eth
Forum — https://forum.floatprotocol.com