HOPR Staking Season 6 Launch
HOPR Staking Season 6 will launch on January 26th 2023, at 2 pm CET. As with all our seasons, it will run for 3 months. Read on for all the changes, including information about the new network rewards. You can get more information on the full staking program here.
Unstaking from Season 5
Shortly before the season transition, the staking season 5 website will move to https://stake-s5.hoprnet.org/
Once the season ends, press the Unlock button, and your tokens and NFTs will be returned to your wallet, along with any unclaimed rewards.
To restake, head to https://stake.hoprnet.org and follow the instructions. Remember to unwrap your wxHOPR first with our wrapper widget.
If you have a Network Registry NFT, staking from the same address will ensure that you can continue to run your node uninterrupted.
If you would like to move your node to a different address, that’s fine, but you’ll need to reregister your node in the Network Registry smart contract, so we know the correct address to send your rewards to. There will be a week-long transition period to allow everyone to make this transition. After this time, we will sync the registry contract and only nodes linked to staking season 6 addresses will be able to function within the network.
New Staking UI
For Season 6, we’ve rebuilt the staking website from scratch. Everything works the same way in terms of staking, locking NFTs and claiming rewards, but we’ve made a huge number of improvements under the hood to ensure a smoother experience and more accurate real-time information. It should also look much better on all screen sizes, including mobile.
The site makes more extensive use of our subgraph to provide real-time info about your stake and rewards.
There’s also new rows which will show your expected Network Reward earnings and cumulative Network Reward earnings for the season.
Finally, the NFT gallery has been overhauled to give you a clearer overview of your collection, with more intuitive sorting of NFTs and clearer labelling of duplicate NFT types.
Changes from Season 5
In the transition from Season 5 to Season 6, we’ve continued to make changes that reflect the program’s evolution towards the end state, where the program is turned off entirely, and all rewards come from running a HOPR node with HOPR tokens staked in the node itself.
To this end, Season 6 continues to prioritise rewards for node runners, and minimise rewards for passive participants.
The important top-level parameters are:
- Base rate reduced from 2.5% to 1.25%
- Boost cap increased to 250,000
- Season 3 NFTs no longer provide a staking boost (but are still counted for waitlist priority, so hold on to them in your staking address!)
Most importantly, a new class of rewards will be added during Season 6: Network Rewards. These will be sent directly to participating addresses as staked xHOPR, and can be redeemed at the end of the season.
The season will run from 2 pm CET on January 26th to 2 pm CEST on April 26th.
Network Rewards
Starting with Season 6, node runners will be receiving additional HOPR tokens based on their node performance. These tokens will be sent directly to staking addresses as staked xHOPR tokens. So there will be no more waiting for NFTs, and rewards will be more granular.
How Will It Work?
Rewards will be issued in two-week cycles. Every two weeks, we’ll announce a particular node metric or set of metrics that we’re measuring, and at the end of the period, a budget of HOPR tokens will be divided between registered node addresses based on node performance.
For example, if we were measuring uptime, we would sum up all the pings for the period and divide the reward budget proportionally between nodes based on their ping count.
Who Can Earn Network Rewards?
Network rewards will be available to all HOPR node runners with a registered Community rank Network Registry NFT. To be eligible for a Network Registry NFT, stake at least 2,000 HOPR tokens in our staking program and join the waitlist here (1,000 if your node will be on an AVADO or DAppNode).
You can learn more about the Network Registry and Waitlist in our docs.
Can I See My Rewards?
Once the Network Rewards are launched, you will be able to see your expected rewards on both https://network.hoprnet.org and the updated stake.hoprnet.org
stake.hoprnet.org will also show you the cumulative network rewards you have received since the start of Season 6.
Be aware that until the reward period ends, the expected rewards are only an estimate. The actual amount can go up as well as down, depending on your actions and the actions of other node runners throughout the remainder of the rewards period.
How Will I Receive My Rewards?
Rewards will be sent directly to your HOPR staking address as staked xHOPR. These will start accruing wxHOPR rewards immediately in accordance with the rules of the standard staking program.
Rik Krieger,
HOPR Co-founder
Twitter: https://twitter.com/hoprnet
Telegram: https://t.me/hoprnet
Website: https://www.hoprnet.org
Github: https://github.com/hoprnet
Network: https://network.hoprnet.org
