Vesting
Delta holders are able to lock up their Delta tokens and gain vote powers in the protocol.
We are thrilled to announce that veDELTA mainnet is officially launched today Nov 17th, 2023. Stake your DELTA to mint veDELTA NFT and make your voice heard in Deltaswap community. Q4 2023 Deltaswap bridge fees will be distributed in WPLQ over the following weeks, until March 14th.
Link: https://vesting.deltaswap.io/
Supported chains: Planq
When:
DELTA staking opened on Nov 17th at 10:00 AM (UTC)
The first snapshot was on Nov 17th at 3:00 PM (UTC)
Snapshots take place every Thursday at 02:00 AM (UTC), and reward claims begin shortly afterward. Rewards are calculated on a weekly basis after every Thursday’s snapshot.
What is veDELTA?
Anyone who stakes DELTA will receive veDELTA NFT. The NFT holders will have the power to initiate and vote for the governance proposals. The rights and power are determined by the DELTA amount and lock duration.
1 DELTA locked for 4 years = 1.00 veDELTA
1 DELTA locked for 3 years = 0.75 veDELTA
1 DELTA locked for 2 years = 0.50 veDELTA
1 DELTA locked for 1 years = 0.25 veDELTA
veDELTA NFT is the first tradable NFT with which there are juicy rewards to be distributed on a weekly basis in addition to the NFT value.
You are allowed to extend the locking durations before it expires. Once your lock expires, you can withdraw your DELTA after you claim all the rewards.
How to Stake
Get your DELTA prepared
Visit https://vesting.deltaswap.io/ and connect to Planq Network
Create Lock
Enter DELTA amount and confirm contract approval
Select locking duration and lock DELTA
Contract Address
veDELTA Contract Planq: https://evm.planq.network/address/0xFc04de084548a033D6fAB40e4CfB27C832f9f35E
Reward Contract on Planq: https://evm.planq.network/address/0xfB44597e54CE168A2D97b0cD19aAebc96d9F7684
What’s veDELTA?
Stake DELTA to get veDELTA NFT — a locked state of DELTA, in the form of tradeable NFT. With veDELTA, you will be able to participate in Deltaswap governance and receive Deltaswap bridge fees.
What can I get from veDELTA?
In addition to bridge fees distribution, veDELTA grants its holders voting power. Anyone who stakes DELTA will receive a percentage of veDELTA, the power of which is determined by the locked DELTA amounts and the locking durations. As per the scheme:
1 DELTA locked for 4 years = 1.00 veDELTA
1 DELTA locked for 3 years = 0.75 veDELTA
1 DELTA locked for 2 years = 0.50 veDELTA
1 DELTA locked for 1 years = 0.25 veDELTA
I lock DELTA for 4 years, why am I getting less veDELTAs rather than 1 DELTA : 1veDELTA
It is because the lock time is rounded down to weeks. The locking period recorded by the veDELTA system is shorter than the actual one.
How many rewards will be distributed?
According to the veDELTA proposal, 100% of the quarterly bridge fees will be distributed as rewards and dispersed every quarter.
On which blockchain does veDELTA launch?
veDELTA is the vested version of DELTA and it was launched on Planq.
How long should I lock DELTA?
It’s totally up to the individual. The maximum lock-up time is 4 years. The longer you lock DELTA, the more benefits you receive.
When can I stake DELTA?
Staking will be open on Nov 17th at 10:00 AM UTC and you can stake anytime after that.
When will the rewards begin?
Rewards distribution started on Feb 14th at 02:00 PM UTC and it's ongoing.
When can I claim rewards?
WPLQ rewards will be calculated weekly after every Thursday’s snapshot. For example, if you stake DELTA before the first snapshot on Feb 14th at 02:00 PM UTC, you will be able to claim rewards afterwards.
How many times can I claim rewards?
You can claim rewards multiple times during the weekly emission period, but you need to pay attention to the gas fee of your claiming tx, which is proportionate to the number of weeks you claimed.
What could I do if I forget to claim rewards?
Your rewards build up and you can claim whenever.
How are rewards calculated?
Rewards will be calculated by the reward contract according to your power of veDELTA. The more veDELTA you hold, the more rewards you get. For more information, please refer to the reward contract
What will happen to my veDELTA as time passes?
If you don’t extend the locking durations, your veDELTA power will decay linearly over time.
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