pTRI — The first step of TriNomics revamp
Gm everyone, we at Trisolaris have been building non-stop in the last few months, and are excited to let you know that we will be rolling out pTRI as the first step of the TriNomics revamp!
pTRI
pTRI is the new TRI staking mechanism. Users who stake TRI will get pTRI and will earn a % of protocol revenue in the form of stablecoin LP tokens!
Yes you are not misheard, rewards for pTRI stakers will be the 3pool stableswap LP token!
All revenue collected by Trisolaris DEX will be converted into USN, USDT & USDC, these stables will then be added to the existing 3pool to get LP tokens back, and eventually will be distributed to stakers based on their proportion in the staking pool! Users will have a choice to claim them, or claim + auto-stake into the 3pool farm!
There are no fees to unstake from pTRI. However, starting next week, there will be a deposit fee and this will likely be 3% of the TRI deposit amount. This is to prevent bots from staking, claiming the rewards, and then immediately unstaking. The TRI collected from these fees will be transferred to the Trisolaris DAO and potentially be burned in the future. (Strongly advised to migrate before next Monday)
UI for pTRI will go live today and rewards will start accumulating on Friday! Rewards will be distributed once per day, and once they are distributed, users will be able to claim them right away. No locks!
xTRI
xTRI will be paused and its trading fees share will switch to pTRI. There will be a “Migrate” button to make it easy for users to make a move.
Why?
Stablecoins rewards are offered instead of more TRI. Many users do not want more TRI on top of their TRI and therefore sell the additional TRI they receive. Stablecoin rewards will remove the selling pressure this action generates.
By sharing the revenue in LP tokens, this will also benefit the protocol TVL. Users have the option to directly stake their rewards to receive more rewards, without Impermanent Loss!
We believe organic market growth only comes from profit sharing and value creation. By using a portion of protocol profits to pay TRI stakers directly in stables, we will be creating an organic, sustainable incentive for the long term, both for users and for our upcoming plans!
This idea was inspired by the Trisolaris community.
Thank you very much! Let’s keep BUIDLing!
How to migrate from xTRI to pTRI?
Step 1: Head to https://www.trisolaris.io/ and go to the Stake page.
Step 2: Here there will be a form shows up and ask you to migrate your xTRI to pTRI. Once you’ve Approved & hit Migrate, the protocol will then automatically unstake the xTRI for TRI, then stake those TRI into pTRI.
And because the xTRI mechanism makes xTRI more valuable than TRI, chances are you’ll get more pTRI’s than xTRI after you’ve migrated.
We strongly recommend migrating your xTRI, because once pTRI goes live, they will no longer receive revenues.
What’s Next?
Soon we will be sharing more details about the ve-model for TRI, and shortly after that will be the implementation! For now, you can read our discussion around it on the Trisolaris forum: https://forum.trisolaris.io/
FAQ
What does pTRI mean?
Profit TRI :)
What will happen to the stNEAR <> xTRI farm?
It will be deprecated.
What will happen to TRIPOLAR?
Polaris will switch to TRIPOLAR <> TRI farm and TRIPOLAR will peg to TRI.
