We’re thrilled to announce the launch of DAO Staking Pool v2, an upgrade that brings significant improvements and added flexibility to our staking platform. Here’s a closer look at what’s new and how you can seamlessly migrate to this enhanced version.
Round 1 Datetime: Monday, May 13th, 2024, 14:00 UTC – Thursday, May 16th, 2024, 14:00 UTC.
Who: Current yZF Holders
Where: https://zkswap.finance/earn/staking
TL,DR: Stake your yZF (v1) to the Migration Pool and wait.
✨ Notes:
1. There will be 5 migration rounds, each lasting 3 days. There will be a one-day interval between rounds to prepare for the next round.
2. After Round 1, the ZF rewards for the current DAO Staking Pool (v1) will cease, and the new DAO Staking Pool (v2) will receive these rewards (5% max supply of ZF over 3 years). DAO Staking Pool (v2) still maintain a 1% unstaking fee distributed to other stakers in the new pool.
3. Users who stake yZF (v1) into the migration pool will receive the new yZF auto airdropped to their wallet within a maximum of 6 hours after the migration pool ends.
4. During the migration period, your Boost will remain the same as if you still hold your yZF v1, thanks to the temporary myZFi token. However, you won’t be able to swap with zero fee using Paymaster until you receive the new yZF (v2).
✨ What’s New in DAO Staking Pool v2:
1. Flexible Unstake Fee Allocation: One of the key enhancements in DAO Staking Pool v2 is the introduction of a more flexible policy regarding the unstake fee. While DAO v1 implemented a fixed 1% unstake fee distributed to other stakers, v2 allows for this fee to be allocated to various destinations such as other stakers, a burn address, or the treasury.
2. Burning Mechanisms: The flexibility in the unstake fee allocation opens up possibilities for implementing burning mechanisms for our native $ZF token, enhancing its utility and value.
3. Precise Unstake Fee Setting: Unlike its predecessor, DAO Staking Pool v2 enables the setting of unstake fees with greater precision, allowing for percentages with more digits. For example, users can now set an unstake fee of 0.12345%, providing finer control over fee structures.
4. Enhanced User Experience: With DAO Staking Pool v2, users gain visibility into both their original staking amount of ZF tokens and their earnings. This transparency improves the staking experience, empowering users with a clearer understanding of their investment performance.
5. Heightened Security: While DAO Staking Pool v1 was already secure, v2 raises the bar even further, ensuring that your assets are safeguarded with the highest standards of security protocols.
✨ How to Migrate to DAO Staking Pool v2:
We’ve made the migration process as smooth as possible, offering two options for users:
Option 1: Users can migrate to DAO Staking Pool v2 without paying the 1% unstake fee.
1. Stake current yZF (v1) into the Migration Pool.
2. Wait a maximum of 6 hours after the pool ends.
3. New yZF (v2) will be auto airdropped to your wallet.
The following outlines the reality of what will happen, encompassing both team and user activities:
1. Stake your current yZF (v1) tokens into the migration pool and receive an equivalent amount of myZFi tokens (1:1 ratio), which serve as temporary placeholders during the migration period.
2. At the end of the migration period (typically 3 days), our team will withdraw the yZF tokens staked by users from the Migration Pool.
4. Team exchanges yZF for ZF tokens (unstake) from the DAO Staking Pool v1.
5. Team deposit ZF tokens into the new DAO Staking Pool v2 and receive the equivalent new YZF (v2) tokens.
6. Team airdrops the new yZF (v2) tokens back to users based on the amount of myZFi tokens they possess.
Option 2: Alternatively, users can
1. Unstake from DAO Staking Pool v1 themselves, paying the 1% unstake fee.
2. Stake into DAO Staking Pool v2.
Don’t miss out on the enhanced features and benefits of DAO Staking Pool v2. We recommend choosing Option 1 and joining us in this exciting new phase of the DAO Staking Pool. Happy staking!🌟
