What about prp to zkp conversion rate do we know that yet or is that only calculated after?
I assumed the zZKP can only be withdrawn post V1 from the MASP…please correct me if I’m wrong…as per your message…as the zZKP gets accumulated from staking ZKP…you get PRPs against those zZKP rewards…and those that go for early withdrawal (after the minimum lock up period)…they will get their staked ZKP AND their zZKP rewards…but lose out on the PRP rewards…correct?
So the conversation rate is 1:10, hence 1 ZKP = 10 PRPs.
We are setting up the initial Advanced Staking DAO proposal this week and hope to share it asap here on Discourse where the community can add the parameters discussed above onto the proposal. The following parameters need to be specified onto the proposal:
- Flat PRP
- Total reward pool size for the Adv Staking program
- Length of the Adv Staking program
These points already are discussed above which is great. We will give a heads up once the innitial Adv Staking proposal is shared here.
Would it run beyond the 4 months that it would take to release MVP + 1 month to be safe usually? IE - would it run indefinately or limited to this time?
Perfect, so stakers would receive a ‘reward’ of 200ZKP per stake for remaining staked until V1 launches effectively ( assuming the reward of 2000PRP is chosen)
Yes we discussed the length of the Adv Staking program here.
A change thas has been applied to the Advanced Staking infrastructure is to allow for future staking programs by creating new terms if needed. This is very important regarding the continuity of the program itself. I also do think that the 4 month estimation is accurate.
Good for early adopters
Great to know, so then the only outstanding item now is the APR - Saif suggested 10-15%, how would we be able to calculate what can be allocated to this 4 months of staking? ( Taking into account the time that there was no staking I believe it should be higher rather than lower… )
That said it also makes sense to verify later today if all the parameters are sufficiently specified by now.
Ok there is some flawed logic here, someone could stake with 1zkp in 0.001 segments 1000 times and earn thousands of prp’s/zkp @Saif please confirm
So, just to confirm my understanding:
ZKP / PRPs ratio will be 1:10. Let’s say PRPs are capped as 2000.
Does that mean if I have 200k ZKP, I can create 1000 (200 ZKP) stakes to maximise my PRPs gain? Or would that be capped by wallets?
Let me answer both the points:
- Regarding conversion rate of PRP to zkp(protocol privacy rewards), a ratio need to be set in the beginning at the launch and after that the AMM will itself balance out and determine the rate as per the usage of the protocol ( which will create more PRP) and the amount of conversions happening ( which determine the balance of rewards).
- I know it is bit tricky as the transition happens from Adv Staking to Core V1. Re: question from Av8R - your understanding is correct.
There will be 2 Advanced Staking proposals and the parameters decided by the community will be spread among them.
For part 1, the only yet to be determinated parameter is the total amount of $ZKP tokens designated for rewards for stakers.
The other 3 parameters discussed so far will be on the first Adv Staking DAO proposal as well.
Can we compare this to the total reward pool of Classic Staking program? Which had a couple million ZKP innit?
When are we likely to see this proposal, Joris?
Once the parameter above’s specified. Hopefully tomorrow but this depends on when the ZKP holders concur on the total amount of $ZKP tokens being designated for rewards for stakers.
So we are really close. After that one of the Snapshot Authors can pick it up, and we can put the recently deployed Community members into action on Snapshot as well
Thanks Joris, one thing I couldn’t wrap my head around is regarding PRPs distribution. If voted to be capped at 2000, is that per stake position or per wallet? Hope my question makes sense
For me, the answer is whatever the treasury is willing to part with, determined by the value that they believe advanced staking will have towards V1.
I’m not sure if this decision can be made by the community. What are our options?
Per stake! So one can have multiple stakes. This flat PRP goes for the first 2000 stakes as the community discussed this number above.
Thanks Joris. Appreciate your confirmation.