Addition of Compounding (Re-Staking) Function to KLAYswap!

Hello, members of KLAYswap community!

Today we are excited to announce the addition of Compounding (Re-staking) capabilities to KLAYswap. Using this function, users can stake additional KSP earned, without an increase in their lock-up period.

The purpose of this update is to improve user experience and to empower governance functions. Through Re-staking, users can now stake their earned KSP without having to worry about lock-up period increasing. This will also allow them to earn more KSP and vKSP as a result, allowing them to participate in KLAYswap ecosystem more actively than ever before.

Now, let’s go over how to re-stake in details..

KLAYswap : Compounding (Re-staking) Guide

1. Click “Claim Rewards”

Connect your wallet, then head over to “Stake & Boost” section to find “Claim rewards” button. You must press “Claim rewards” button, and not the “Stake” button to re-stake.

2. Re-staking

Upon pressing “Claim rewards”, the page in which you can re-stake will appear. Press “Re-staking” to stake earned KSP to receive compounded interest.

* Details regarding re-staking

1) Re-staking can only be done with KSP that was received as a reward for staking.

2) Re-staking will only stake KSP of whole number value, and anything below the value of 1 will be automatically sent to your wallet.

Ex) Let’s assume you have accrued a reward of 2.23200000 KSP. 2, which is a whole number, will be re-staked, while a decimal value of 0.23200000 will be sent to your wallet.

3) If the user has staked KSP several times with different multipliers and periods, re-staking will yield a value of vKSP with a multiplier value according to the longest remaining staking period.

4 months staking — 1 vKSP per 1 KSP

8 months staking — 2 vKSP per 1 KSP

12 months staking — 4 vKSP per 1 KSP

Ex) If you have staked your KSP twice, once at 4 months and another at 8 months, re-staked KSP will be unlocked at the same time as initially staked KSP, and will yield a vKSP amount as per 8 month staking.

If you wish to collect your accrued KSP without re-staking, you can select the “Receive to wallet” option next to “Re-staking.” You can then press “Receive to wallet” at the bottom to send your accrued KSP to your wallet.

And there you have it, a simple way to re-stake and compound your reward. Through this system, KSP holders can increase their yearly reward, as well as receiving additional voting power. And by not having to worry about an increase in lock-up period, we hope this will encourage even more people to participate in the KLAYswap governance and ecosystem. We humbly thank our users and ask for your continued support.

KLAYswap: https://klayswap.com

Twitter: https://twitter.com/klayswap

KLAYswap Documentation:https://docs.klayswap.com

Orbit Bridge: https://bridge.orbitchain.io