Staking Sunset FAQ
Recently, we halted new deposits into staking for the EMBR token as a first step towards sunsetting staking. After careful review of the staking pool and the trajectory of demand, we've come to the conclusion that it's time to sunset the staking program - beginning with this first step of halting new deposits into staking.
With this change brings a few questions that we hope to highlight and answer here. Below you will find some frequently asked questions and answers.
At the time of writing, you will no longer be able to start new staking schedules. This represents a first step towards sunsetting the staking program of the EMBR token as it currently stands. This means that when you go to the staking page, you will no longer see the option to deposit tokens into a new staking schedule. Everything else should look as it did before, including the options to withdraw tokens that are available for withdrawal.
Staking was always intended to be a temporary, finite means of thanking early backers of the EMBR token. We reserved 35% of the tokens from the total supply for staking rewards during the presale - as there is no buy or sell tax on our token, that rewards pool is finite. We estimated, from day 1 of staking, about 2-3 years of funds for staking rewards and we are proud that we've been able to reach the 2 year mark. But after extensive review, we believe it is time to sunset this form of staking.
Absolutely! If your tokens are currently staked you will continue to earn rewards in line with the staking schedule you selected when you first deposited your tokens into staking. If your tokens are currently in staking but your lockup period has concluded, you will continue to earn rewards for now.
For now, yes. You may keep your tokens in the staking vault even if you have concluded your lockup period. You will continue to earn rewards for now.
This halt on new deposits into staking will not impact the presale vault. You will sill be able to access presale tokens via the same interface on the website.
You're already reading this on our Knowledge Center! If you look to the bottom corner, you'll see a chat bubble where you can acquire chat-based support if needed.
Although staking may be in the process of sunsetting, there is a lot to look forward to with the EMBR token! Expect some more information soon on what to expect from the EMBR token. Between utility, governance and a fee-share, the opportunity for adoption of the EMBR token cannot be overstated.
With this change brings a few questions that we hope to highlight and answer here. Below you will find some frequently asked questions and answers.
What is actually changing?
At the time of writing, you will no longer be able to start new staking schedules. This represents a first step towards sunsetting the staking program of the EMBR token as it currently stands. This means that when you go to the staking page, you will no longer see the option to deposit tokens into a new staking schedule. Everything else should look as it did before, including the options to withdraw tokens that are available for withdrawal.
Why is staking sunsetting?
Staking was always intended to be a temporary, finite means of thanking early backers of the EMBR token. We reserved 35% of the tokens from the total supply for staking rewards during the presale - as there is no buy or sell tax on our token, that rewards pool is finite. We estimated, from day 1 of staking, about 2-3 years of funds for staking rewards and we are proud that we've been able to reach the 2 year mark. But after extensive review, we believe it is time to sunset this form of staking.
Am I able to access my tokens that I've already staked?
Absolutely! If your tokens are currently staked you will continue to earn rewards in line with the staking schedule you selected when you first deposited your tokens into staking. If your tokens are currently in staking but your lockup period has concluded, you will continue to earn rewards for now.
Can I keep my tokens in the staking vault, even if they're no longer accruing rewards?
For now, yes. You may keep your tokens in the staking vault even if you have concluded your lockup period. You will continue to earn rewards for now.
Does this affect the presale vesting vault?
This halt on new deposits into staking will not impact the presale vault. You will sill be able to access presale tokens via the same interface on the website.
Where do I get support if I need it?
You're already reading this on our Knowledge Center! If you look to the bottom corner, you'll see a chat bubble where you can acquire chat-based support if needed.
What's next for the EMBR token?
Although staking may be in the process of sunsetting, there is a lot to look forward to with the EMBR token! Expect some more information soon on what to expect from the EMBR token. Between utility, governance and a fee-share, the opportunity for adoption of the EMBR token cannot be overstated.
Updated on: 23/04/2024
Thank you!