Singapore, 18 April, 2024 – StakeStone's Omnichain Carnival was successfully launched on March 27th, garnering more than 50k early access signups and with over 20k users that have deposited ETH. Following a meticulous gathering and review of community feedback, StakeStone is thrilled to announce the official upgrade of Omnichain Carnival Wave 1. The upgrade encompasses several exciting features such as a new points system, a strategic partnership with Scroll, no more deposit limits, and additional ways to earn more.
1. A new points system: STONE-W1 Points
Firstly, we are introducing a novel point system called STONE-W1 Points, designed to incentivize users who have deposited STONE on the Ethereum mainnet. Both users who have previously deposited STONE/ETH in Wave 1 and new participants joining Wave 1 will accrue STONE-W1 Points. Ultimately, the Wave 1 prize pool, constituting 3% of StakeStone's total supply, will be distributed among participants based on the quantity of STONE-W1 points they have. These accrued points can now be conveniently tracked on the carnival page.
2. Strategic partnership with Scroll
Following StakeStone’s strategic partnership with Scroll, users can further accumulate STONE-W1 Points by either holding or utilizing STONE on the Scroll platform. Users with at least 0.25 STONE on Scroll can now earn STONE-W1 points and can further enhance their points accumulation and receive bonuses by engaging in various protocols such as Tranchess integrated with the platform.
3. No deposit limit & reward boosts setting In
Finally, the upgrade includes the removal of the deposit limit for Wave 1, which was previously capped at 200,000 STONE. At the same time, boosts that were initially promised to users will be reflected through the new points system. Early access users, who activated their accounts before March 31, 2024, will receive a notable 15% boost in STONE-W1 points. Referrers will enjoy a generous 25% share of their invitees' STONE-W1 points. And going forward, Wave 1 participants will receive a 5% boost in Wave 2, alongside a greater portion of Loyalty rewards.
Enjoy greater flexibility with no lockup
From this upgrade, there will be no lock-up of the ETH users stake, offering the flexibility to take full control of their assets. Before end April, depositing of STONE on the ETH Mainnet will be disabled and users will have the option to withdraw their deposited STONE from Carnival as cSTONE.
If a user opts to withdraw STONE using cSTONE, their existing STONE-W1 points will remain unchanged, but they will no longer accumulate new STONE-W1 points. After the discontinuation, for users who have previously deposited STONE on the ETH Mainnet, the accumulation of their STONE-W1 points will transition to being based on cSTONE holdings. Holding cSTONE on the mainnet enables users to continue accruing STONE-W1 points as usual, with a 15% Boost available for utilizing cSTONE in Zircuit and Mode.
With this new mechanism and partnerships, users will gain access to many new opportunities within the StakeStone Omnichain Carnival, granting them enhanced flexibility and unlocking new possibilities!
Find out more about the StakeStone Omnichain Carnival here.
About StakeStone
StakeStone is a leading liquidity infrastructure protocol that focuses on staking assets beyond the traditional consensus layer, producing yield-bearing assets, and enhancing liquidity distribution across multiple chains and protocols. With its innovative architecture and commitment to transparency and optimized yields, StakeStone is dedicated to advancing the DeFi space by supporting the minting of assets like yield-bearing ETH and STONE ETH and establishing new standards for liquid assets. StakeStone's relentless pursuit of transparency and maximized yields drive the evolution of liquid assets, cultivating a dynamic, ever-growing omnichain liquidity distribution network.
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