HOPR Staking 5.0

Staking Season 5 is here! The new staking season will begin at 2 pm CEST on Wednesday October 26th 2022. It will run for three months, ending at 2 pm CET on Thursday January 26th 2023.

To claim your remaining rewards and unlock your stake, visit https://stake-s4.hoprnet.org/ once the season has ended and press the Unlock button. Your stake will be returned as xHOPR tokens. Unclaimed rewards will be sent to your wallet as wrapped xHOPR tokens (wxHOPR). These will need to be unwrapped to xHOPR by using our unwrapper at https://wrapper.hoprnet.org/

To restake your stake for Season 5, visit https://stake.hoprnet.org, connect your wallet and follow the instructions. To better balance the reward distribution to favour active community members, the base rate has been reduced to 2.5% while the boost cap for NFTs has been raised to 200,000. This season will also see a bigger focus on node running and governance, with almost all issued NFTs falling into these categories.

For more information on how staking works, visit our Staking FAQ.

Updated Parameters

For Season 5, we’re further updating the main parameters of the staking contract to continue our push to reward active participation over active staking.

The base rate will be dropped to 2.5%, while the NFT boost cap will be increased to 200,000. Our analysis suggests that this should further shift the balance of rewards away from whales and towards more active smaller token holders.

In addition to these changes, we’re planning new rewards streams based on node running to launch over the next few months. These will still be linked to the HOPR staking contracts.

Discontinued Boost NFTs

As we move through the staking seasons, older NFTs are discontinued. For this season, only NFTs from Seasons 3, 4 and 5 will be eligible. Their boosts remain the same.

The full list of discontinued NFTs is:

• HODLr
• Wildhorn_v1 and v2
• DAO_v2
• Puzzlehunt_v1, v2 and v3
• Surveyor
• Lucky
• ETH_Denver

Season 5 will have its own NFTs, of course. Unlike previous seasons, these will be more focused on node running to better reflect the current state of the protocol and to support our ongoing transition to HOPR’s final form, where rewards will be entirely linked to node running with the HOPR network.

To get access to these new NFTs, make sure you’re registered in our waitlist so you’re eligible to receive a Network Registry NFT.

Network Registry and Network Registry NFTs

The HOPR Network Registry is tightly linked to the HOPR staking program: to register and gain access to the HOPR network you need to have a Network Registry NFT staked. Therefore, as we move to Season 5, the Network Registry smart contract will also change which contract it queries.

If you’re already on the Network registry and running a node, you’ll need to unstake your funds and restake them in the new season 5 staking contract to remain on the registry.

Starting Sunday, October 30th, at midnight CEST, all unstaked participants will have their nodes removed from the registry.

The Future

As we move into 2023, the goal is to evolve the HOPR staking program in two ways:

• Dynamic unstaking The three month lock-up period will be removed. There may still be a brief unlock period, as is standard in many crypto staking programs for security purposes, but stakers will be able to trigger it at any time.
• Greater focus on node running Ultimately the HOPR protocol is designed to be self-sustaining, with all incentives coming from relaying within the HOPR protocol. We’re still a way off from that, but in the future the majority of incentives will come from node running in one form or another.

Rik Krieger,
HOPR Co-founder

Website: https://www.hoprnet.org
Twitter: https://twitter.com/hoprnet
Telegram: https://t.me/hoprnet
Discord: https://discord.gg/dEAWC4G

Forum: https://forum.hoprnet.org
Staking: https://stake.hoprnet.org
Bounties: https://bounties.hoprnet.org
Playground: https://playground.hoprnet.org