📢ANN: ERC20 PHA Rewards of KSM Stakedrop will be Upgraded into Pre-mainnet PHA

As planned in Phala Parachain Roadmap, functionalities of Phala testnet will be migrated and live on Phala pre-mainnet Darth Vader soon by the end of 2020. To guarantee the safety of unclaimed PHA assets, Phala will pause the Stakedrop reward distribution of ERC20 PHA through Stakedrop Reward Claim Page, and upgrade it into a new contract which allows participants to directly claim Darth Vader PHA (DV PHA) from Kusama Network via the participated Kusama accounts after Phala launches its pre-mainnet.

Another reason we will stop using Ethereum-built functionalities gradually is its instability (e.g., after Infura was down, Phala Stakedrop Reward Claiming tool was greatly affected), as the frequency of Stakedrop ERC20 PHA goes down to 1 time / 2 weeks. Also, we believe it’s a must for non-Ethereum project to undergo.

How Kusama Stakedrop works

We issued ERC20 PHA before the mainnet launch for reward destriburion adn community connection. After mainnet launches, ERC20 PHA can be 1:1 migrated until the mainnet is live and stable.

Stakedrop rewards were distributed in ERC20 PHA though, we wrote the claim tool with a simplified non-contact design, as smart contracts can’t run on Kusama Network and the gas fee of Ethereum was too incomprehensible. This caused the inconvenience that a participant has to bond his ETH address with his Kusama address first and sign again in the Stakedrop Reward Claim Tool.

How it will work on pre-mainnet

Since Phala mainnet is on the way, it’s more reasonable that Phala should distribute the PHA rewards to Kusama addresses with lower cost and quicker responses after Phala pre-mainnet Darth Vader is live (expected to be in the Q4 of 2020). From then on, the unclaimed PHA rewards will be able to be claimed directly through Kusama addresses with a single click.

Also, there’s no time limit on Stakedrop reward claiming so far. After the reward-claiming is restarted, a participant (or a successfully participated account) may claim the PHA rewards at any time he or she prefers.

About Phala

A Substrate-based confidential smart contract platform on which you can develop confidential-preserving and privacy-first blockchain apps. Member of Substrate Builders Program starting lineup. Recipient of Web3 Foundation Grant.

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