Epoch 1 is drawing to a close, and in just a few days we will be entering into Epoch 2. Before sharing all the new details, let’s take a final look at Epoch 1.
Total Value Locked SDAO
Unbonded — 7,204,670.4732 SDAO
Bonded — 3,499,998.5428 SDAO
For the next Epoch, beginning 17th of October at 10:00 UTC+0 some adjustments will be made. There will be two separate bonded pools, one lasting for 3 months and one lasting for 6 months. Users who are currently in Epoch 1 of bonded staking will automatically roll over into the new 3 month bonded pool, without any action. The unbonded pool will see an increase in rewards, but will remain fundamentally unchanged.
For users wanting to switch from the current Epoch 1 bonded staking or unbonded staking to the 6 month bonded pool, the following actions are required:
Unstake from Epoch 1
Approve the new 6 month pool contract
Stake into the 6 month pool
Pre-approval of the contract is possible but does not guarantee a spot in the pool.
Each of these steps will incur a gas fee, so please do consider the cost vs benefit before making your decision. Once the 6 month bonded pool opens, it will be possible to join on a first come, first served basis. The pools will remain open for 5 days.
It is of course also possible to remove your staked tokens should you choose to do so, or some portion of them. There is a 5 day window starting from the end of Epoch 1 for both the adding and withdrawing of tokens.
Epoch 1 bonded pool rolls over and compounds automatically at the end of each Epoch
If you wish to opt out, you can do so by removing your staked tokens between 10:00 UTC+0 on the 17th and 10:00 UTC+0 on the 22nd of October.
The 2 month bonded pool will be replaced by the 3 month bonded pool starting 17th of October 10:00 UTC+0.
There will no longer be a 2 month bonded pool.
Epoch 2 opens Sunday 17th of October — 10am UTC+0
Deposit/Withdraw closes Friday 22nd of October — 10am UTC+0
Please note that Epoch 1 filled within 30 minutes
Max allocation increased from 25k SDAO per wallet to 50k SDAO
3 month bonded pool — 5m SDAO cap / 437,500 SDAO reward = 35% APY
6 month bonded pool — 5m SDAO cap / 1,250,000 SDAO reward = 50% APY
The unbonded pool will have 275,000 SDAO rewards for the coming two months, at current participation (7m SDAO staked) this would result in an APY of 21.4%. As there is no maximum capacity for the unbonded staking pool, this APY may change over time.
Liquidity Pool Rewards — for the next 2 month period
SDAO/ETH — 30k SDAO
AGIX/ETH — 30k SDAO
SDAO/USDT — 20k SDAO
AGIX/USDT — 20k SDAO
You have likely noticed that Epoch 2 has undergone many changes and new additions. We are always discussing, adjusting, taking feedback and laying the necessary groundwork for upcoming features. This is of course a necessary part of a growing DeFi platform. Expect there to be even more changes in Epoch 3.
In the very near future our launchpad will be complete, you can expect more news about that very soon. Due to the acceleration of the launchpad, bridges have been pushed back slightly. They are still coming in the very near future, we just decided to reverse the priority of bridges and launchpads for reasons that will become very obvious in the next couple of weeks. Feel free to get excited about that!
DynaSets are still on track, a large part of our team is allocating 100% of their time to building the back end and testing the algorithms, everything is looking good for a December release of the first DynaSet. There is still a lot of work to be done to have it ready, but we remain confident about releasing the first set before the end of the year.
Alongside the arrival of our first DynaSet we will also be releasing what we have internally named “Beta V2” — This will include a large number of upgrades and changes to the platform, front end, back end, user interface, user experience, functionality, features and potentially even branding. Last week the whole team met up in France and we spent many hours discussing plans for V2. We would love your input too, so please do reach out to our admins with any thoughts. We always monitor the channels for discussion of interesting new features or fixes that need to be made.
Thanks everyone for making Epoch 1 so successful, we hope you enjoy Epoch 2 and everything else arriving in the coming weeks and months.
Take part at https://app.singularitydao.ai/
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