One-off Commitment Bonus
The deadline for this bonus has passed. This page is left here in case the DAO decides to launch a one-off commitment bonus in the future, following the same or similar structure.
To incentivize longer staking commitments at genesis, stakers can choose extended token lock-up periods and receive a commensurate bonus. This deadline to commit to a token lock-up extension is January 15th, 2024 (UTC 23:59:59).
Note that once you commit to a token lock-up extension, you cannot go back and edit it, even before the Jan 15th deadline has passed.
Stakers can choose from four extension durations: 9 months minimum = 0.5% extra yield (6 month obligatory deauthorization delay + 3 month voluntary extension)
12 months minimum = 1% extra yield (6m delay + 6m extension)
18 months minimum = 2% extra yield (6m delay + 12m extension)
24 months minimum = 3% extra yield (6m delay + 18m extension)
These bonus figures have been validated by the Threshold DAO.
Note that the extra yield for lock-up extensions is a one-off. Stakers do not earn the extra yield over the course of the lock-up period. This is actually an advantage – stakers will be able to withdraw the bonus sooner (February 1st 2024), and for the 9 & 12 month option, the effective extra rewards sum is greater or equal (respectively) than what one would earn if the extra yield was earned continuously. For the 18 & 24 month option, the one-off bonus is effectively less than the continuously earned equivalent.
TACo’s deauthorization delay is the time one must wait between initiating a withdrawal from TACo service provision and being able to complete that withdrawal – is set to 6 months (182 days). This delay is the universal default and is entirely independent from the bonus mechanism. Stakers who choose a lock-up extension duration for the one-off bonus may only initiate the deauthorization delay once the bonus lock-up extension period has elapsed.
Stakers will continue to earn TACo rewards (3.75% annual yield) after initiating the deauthorization delay, until the moment they withdraw their stake.
Note again that the bonus is a one-off incentive scheme. Stakers cannot change the lock-up duration once they have clicked Commit to Token Lock-up in the staking dashboard. Stakers who authorize more tokens to TACo before the deadline will see those tokens locked up for the same duration as that they've already committed to, and their bonus sum increase correspondingly.
The bonus will be withdrawable on February 1st – i.e. stakers will not have to wait for their stake to unlock.
After the bonus deadline of January 15th 2024, top-ups to one’s stake will not count towards increasing the bonus sum (this will have already been calculated and minted), but top-ups will be subject to the same unlock horizon. In other words, you cannot create multiple stake tranches that unlock at different times. Please choose your bonus extension duration very carefully.
How to commit to a token lock-up extension
To make an extension commitment, head to Threshold Dashboard staking page and connect your wallet. You will need to have authorized some number of tokens to TACo first to receive a bonus.
(1) Click on Configure Apps.
(2) Click on the Stake Details tab:
Click on Commit to TACo button.
Carefully choose a lock-up extension and click Commit. Remember, this is irreversible.
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