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.

Socials

Website — https://www.floatprotocol.com/ (also available via: https://ipfs.io/ipns/floatprotocol.eth/#/pools)

Docs — https://docs-float.gitbook.io/docs/

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