Find out why we are merging our staking campaigns, discover the benefits it creates, and what it means for Block Generator stakers.
Key takeaways:
- Ethereum transaction costs have increased significantly since the start of our staking campaign.
- Our Block Generator contract has a complex set-up and is computationally expensive, which affects the payout of our Block Generators negatively.
- To prevent this burden on our stakers, we will return all Block Generator stakes and accrued rewards starting this Friday, January 15th at 9:00 UTC.
- This automatic process may take up to 3 days and requires no effort from BG stakers.
- We invite all former Block Generator stakers to join Provisioner Staking campaign!
In this article, we detail how Block Generator staking will merge with Provisioner staking.
By prioritizing Provisioner staking, we shield our users from the excessive Ethereum Network transaction fees, allowing DUSK staking to remain accessible to a wider public. In the current structure, retrieving a Block Generator stake and reward can cost a user up to 100 USD in transaction costs, while also contributing to significant maintenance costs for the project. In light of this, we’re streamlining the process to the benefit of all parties.
What will happen?
We are sending back Block Generator stakes and rewards to the originator addresses. This will happen automatically; no action from the user is required.
This way (1) Block Generators don’t have to pay any transaction costs (Dusk Network will pay these fees) to retrieve their stake and rewards and (2) there is no cool-down period.
When?
Transaction processing will commence on Friday, January 15th at 9:00 UTC and may take up to a couple of days.
How does this benefit you?
Once your Block Generator stake and accrued rewards are returned to you, you can enter the Provisioner contract with ease.
1) All previous Block Generator stakers are eligible to stake up to 1 million DUSK in this contract in a single transaction
2) Provisioner stakers benefit from the fixed 12% APY return
3) Stakers will face much lower smart contract transaction fees on the Ethereum Network
4) You are given the option to stake both your previous initial stake and accrued rewards through a single action
The Provisioner Staking Contract can be accessed from the same user dashboard as the Block Generator staking: staking.dusk.network.
How can I continue staking?
Step 1: Wait for your Block Generator stake to return. This will occur automatically before Tuesday, the 19th of January
Step 2: Enter the Provisioner contract through our dedicated staking portal. You can read more about this in our updated Staking Guide.
We thank you for your continued support,
The Dusk Network Team.