Advanced Staking (v0.5)
Advanced Staking's interface
IMPORTANT: Following a decentralized approach, this deployment by the Panther DAO is accessible through the Launch App button on Panther's website. This is to facilitate secure access through a reliable information source.
Advanced Staking (previously referred to as Experimental Staking) is an intermediate step towards Panther’s v1 on Polygon and the Ethereum Mainnet. Through it, users can earn rewards and help Panther test the features that will, in due time, enable privacy through Multi-Asset Shielded Pools (MASPs). Because of its importance for the protocol’s development, it is considered Panther’s version 0.5.
Panther’s v0.5 is a progressive step towards developing the core technologies surrounding the Multi-Asset Shielded Pool, mainly how UTXOs are created, managed, and tracked. Advanced Staking acts as a step to deploy and test the above capabilities by issuing staking rewards as $zZKP directly within the MASP.
The number of tokens to be released as rewards in Advanced Staking is 6,000,000 $ZKP.
The formula for distributing rewards is the following:
Reward = Amount * APR * Period / 365 APR - 15% Period - 60 days
- Reward: reward for a stake ($zZKP)
- Amount: amount staked ($ZKP)
- APR: Annual Percentage Rate (%)
- Period: rewarded period (days)
v0.5 also introduces Panther Reward Points. PRPs are non-transferable points associated with a user's Panther account. The mechanisms for calculating and generating PRPs will also be used on MASPs in the protocol's v1. When the protocol's v1 is live, users that deposit assets (contributing to MASPs' privacy set) will receive PRPs to be redeemed for $zZKP through a one-sided Automated Market Maker.
At v0.5, there are two types of PRP rewards:
- 1.Expected PRP Rewards: The first 2000 stakers will be rewarded with 2000 PRPs per stake, as decided by the community through PIP-9. These rewards will not continue growing or change (i.e., they are “flat”). Users can see them on the Balance Card on the Staking page. This type of PRPs will be awarded automatically and is not forfeitable.
Users that qualify for this kind of reward will receive a “stake-proof” NFT allowing them to access their Expected PRP Rewards once v1 is launched.
- 2.Unrealized Privacy Rewards: These will be calculated and accrued based on the Privacy rewards APR, which the community will decide through a Panther Improvement Proposal. This APR will be set through a PIP before v1 is launched. These PRPs will only be awarded when v1 launches and only if a user has kept their $zZKP rewards in the pool until v1. If $zZKP rewards are redeemed via early redemption mechanics, the user will lose all of his accrued PRPs of this kind.
The Advanced Staking app will be accessible through a fully decentralized front-end, routed through a Panther subdomain at release time.