Lara staking
All details about staking Lara
Last updated
All details about staking Lara
Last updated
The Lara Stakign mechanism has been implemented based on a vested token logic whose full maturity is 6 months. For more details, refer to the on our Snapshot Space.
Staking Lara is important for the health of the overall Lara ecosystem. By staking, users are gaining a plethora of benefits, like:
Earning yield: with a targeted ~13% APY , staking is a meaningful income source. The best thing is that staked Lara tokens still count toward your voting power in the Lara DAO.
Gain commission discounts: for Lara Protocol to operate, it takes 10% a commission on your staking yield. The more you stake, the smaller your commission can be. More about staking milestones in its own page at #
A new way of locking supply: staking is a mechanism on its own. In addition to that, the vested LARA tokens (veLARA), are a convenient way of trapping token supply and monitoring future emissions.
$veLARA balances account as additional voting power, cumulatively with both your $LARA balance and $LARA staked.
COMING SOON: Once the Protocol is mature enough, the highest staking milestones will enable users to create alternative validator ranking methodologies and connect such oracles to the protocol.
The veLARA is a simple vested ERC-20 token that helps delay inflation, aligning with the proposal outlined on . This mechanism ensures a sustainable reward distribution over time.
The Staking contract is the central hub of logic and the main point of interaction.
To stake Lara tokens, users must first approve the staking contract to spend their tokens. It is recommended to approve the maximum possible amount (MAX(uint256)) to avoid repeated approvals. Once approved, users can call the stake function on the StakingContract.
After staking, users can claim their staking rewards, which are distributed as veLARA tokens. This process does not require any additional approvals or parameters. The relevant contract call for claiming rewards is straightforward and can be executed directly.
Users who have claimed their staking rewards at least once can redeem their veLARAtokens for LARA tokens. The redeem function requires approval for veLARA tokens, as it involves burning the rewarded veLARA in exchange for Lara. The claimId parameter, necessary for this function, should be obtained from the Lara subgraph. The exact redeemable amount is linear with the maturity of the underlying claim(the closer to the voted on 6 months the higher is the redeemable amount in %).
Users can view their staked amount and current available rewards through a dedicated view function. This function provides a comprehensive overview of the user's staking status and potential rewards.
