Introducing Single-Sided Staking for $TRI
We are very excited to announce the launch of single-sided staking for $TRI. This feature will allow all $TRI holders to stake their $TRI and earn on the fees generated by the Trisolaris DEX with no Impermanent Loss
Head over to our staking UI and stake your $TRI today (rewards only start in the next ~48 hours)
How it works
- While the Aurora EVM engine is completely free to use with no on-chain transaction fees (for now), the Trisolaris DEX charges a 0.3% trading fee on every trade. This fee goes to liquidity providers.
- With the introduction of TRI single sided staking 0.05% of every trade on Trisolaris DEX (1/6th of the normal trading fee) will be taken as revenue for the DEX and be distributed to stakers of $TRI in the form of more $TRI.
- This is made possible by swapping the fees earned in each of the LP pools from the tokens comprising of the pool itself (for example ETH & WNEAR in the ETH<>WNEAR pool) into TRI on the Trisolaris DEX. This means that a portion of every trade is being used to buy back $TRI.
- This $TRI that is bought back is distributed pro-rata to $TRI stakers
What this will look like
When you stake TRI, you will get back xTRI. This xTRI will represent your portion of the single-sided TRI staking pool. What this means in practice is that the rate of xTRI to TRI will update over time as more TRI is accumulated from fees.
While your xTRI amount will stay the same, over time you will be accumulating more and more TRI based on your share of the pool. When you unstake and pay back your xTRI, you will receive more TRI than what you entered with (provided you remained staked for at least a day — as the contract to swap the portion of DEX fees into TRI will be called at minimum once per day).
Why this is important
- $TRI holders and stakers can now all take part in the growth of the Trisolaris DEX. The more we grow with the Aurora ecosystem and the more trading volume that occurs on the DEX, the more $TRI stakers will earn. WAGMI.
- Holders of TRI now have a way to earn on their TRI with no impermanent loss. Single-sided staking means that you only have to deposit $TRI and when you withdraw you get more $TRI back.
Next Steps
- Head over to www.trisolaris.io/#/stake and stake your $TRI
- Rewards will start within the next two days (will announce on telegram, discord, and twitter when live). If you unstake before rewards are live, you will not earn any additional $TRI
- Once rewards are live, unstake to earn rewards or remain staked and auto-compound rewards with no hassle!
- We will begin displaying APR numbers after one full day of rewards are activated in order to have enough of a dataset to project accurate numbers for staking returns. (APR will become more real-time once The Graph is supported on AURORA)
- TriBar Contract: 0x802119e4e253D5C19aA06A5d567C5a41596D6803
