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December 19, 2023 7:46 AM
Last Updated:
December 8, 2022

Single Sided Staking - Phase 2 Update

Heliswap Team
Single Sided Staking - Phase 2 Update

📢 Phase 2 Update - Exciting Enhancements for HeliSwap Stakers!

Greetings, HeliSwap community! We're thrilled to unveil the upcoming Phase 2 of our Single Sided Staking journey, which promises even more opportunities to maximize your $HELI holdings. As we transition from Phase 1, we're excited to introduce a range of new features designed to empower your staking experience.

🔒 Flexible and Lockup Options 

In Phase 2, we're taking your staking experience to the next level by offering two distinct avenues to stake your tokens. Firstly, we're introducing the Flexible Deposit Pool option, providing you with the freedom to deposit and withdraw your $HELI at any time. This means you have full control over your staked tokens, allowing you to adjust your position according to market trends and personal preferences.

But that's not all – for those seeking a more stable and potentially higher yielding approach, we're introducing the Fixed Lockup Option. With this option, you can choose to lock your tokens for a predetermined period, securing a fixed Annual Percentage Rate (APR) throughout the lockup duration on top of the dynamic rate from your flexible deposit. This is a fantastic opportunity for those looking to commit to a longer-term strategy while enjoying the benefits of predictable returns.

💎 Strengthen Your Influence: Voting Power for HeliSwap DAO 

Your staked $HELI will earn you voting power for the HeliSwap Decentralized Autonomous Organization (DAO) in a 1:1 proportion. But that is not all - with the introduction of Phase 2, we're excited to announce that locking your tokens will increase your voting power proportional to the lock time. Your voice will play a crucial role in shaping the future direction of the platform - and your mix of flexible deposit & lock will determine its weight. We believe that active participation should be rewarded, and Phase 2 further solidifies our commitment to empowering our community members.

🔒 Locking Mechanism Details 

For those opting for the Fixed Lockup Staking Period, it's important to note that once you lock your tokens, you can add additional tokens to your existing locked stake, but you won't be able to unlock any portion of the locked tokens until the fixed lockup period concluded. This creates a strategic opportunity for those who wish to maximize the benefits of a stable APR while managing their locked stakes strategically. While your lock may only be unlocked when it expires, we recognize that some people may want to increase their locking periods for more APR & voting rights - which is why we allow users to (A) add more tokens to an existing lock & (B) expand the lock-up period of their existing lock.

There is a limit to the amount of tokens that can be locked and hence enjoy the added voting rights & APR benefits. this limit is 15,000,000 $HELI.

🚀 Seamless Transition - Migrating Liquidity from SSS Phase 1 to SSS Phase 2

We understand that change can be exciting yet uncertain. To benefit from the new SSS Phase 2, stakers of SSS Phase 1 are asked to move their liquidity into the new pool to keep being rewarded. To make this easier for everyone, we have decided to enter a "transition phase" of 1 week - where both, Phase 1 and Phase 2 exist in parallel before Phase 1 APR rewards are entirely discontinued. This should be plenty of time for everyone to unstake - and restake (and to potentially lock).

Here are the Dates:

Single Sided Staking Phase 1 End: September 7th 2023

Single Sided Staking Phase 2 Start: August 31st 2023

Duration of Single Sided Staking Phase 2: The initial pool will last 1 year (365 Days) and End on August 31sst 2024.

More Information can be found in our Documentation: Take me there

Stay tuned for more updates and detailed instructions on the migration process. Thank you for being a crucial part of the HeliSwap ecosystem!