# Welcome to LARA Lara - Liquid Staking for Taraxa {% hint style="info" %} T**ip:** You might be interested in Lara if you're seeking to stake or are an active staker in the Taraxa community, value the security of the blockchain, and want to have access to derivatives meanwhile providing your tokens towards securing it. {% endhint %} ## Overview What Lara is: > Lara is a staking and delegation protocol written in Solidity. It allows users to stake tokens, delegate them to validators, and claim rewards, all automatically. Besides making staking a one-click, KYC-less process, it helps you earn more via its auto-compouding features while it gives the power to opt-in and out of it to the user anytime, all of this while helping yout TARA tokens remain liquid and can be used across a range of DeFi applications. 1. **Lara's main contract**. Protocol to manage deposits, staking rewards, and withdrawals. A separate one for every supported network. 2. **Lara Oracles:** Contracts that provide rating/guidance on the best-performing validators on the network. 3. `st[token]`. Unlike staked tokens, the Lara `st[token]` are freely transferable instead of locked as in the case of native staking. Lara lets users operate with staked tokens by leveraging collateral, lending, farming, and other kinds of DeFi protocols. 4. **DAO**. Lara liquid protocol management entity, responsible for ensuring growth, configuring the protocol parameters, and much more. {% hint style="success" %} **As a protocol, Lara** takes a commission of **8%** on the staking rewards its users generate on an epoch basis. {% endhint %} {% hint style="info" %} To dive into the details of governance design and implementation, proceed to DAO. {% endhint %} ## Important links {% content-ref url="/pages/I9db0UksCavm7nr2sItj" %} [Vision](/vision) {% endcontent-ref %} {% content-ref url="/pages/tcsKaUqU6JmrDEwAzJU5" %} [Value Propositions](/whitepaper/value-propositions) {% endcontent-ref %} {% content-ref url="/pages/28PqRLTVHxDKNtaXBeIY" %} [APR and fees on Taraxa](/whitepaper/apr-and-fees-on-taraxa) {% endcontent-ref %} {% content-ref url="/pages/hUb4wIYOLlEgXsnTpppe" %} [Managing st\[TARA\]](/whitepaper/managing-st-tara) {% endcontent-ref %} ## Lara DAO - coming soon We've put together some helpful guides for you to get set up with our community quickly and easily. {% content-ref url="/pages/hLQfB5Kxbk75MJOM14Pt" %} [Lara DAO](/lara-dao/why-a-dao) {% endcontent-ref %} {% content-ref url="/pages/VZqEyxjCDSpEQERI3XY8" %} [Understanding the DAO](/lara-dao/understanding-the-dao) {% endcontent-ref %} {% content-ref url="/pages/kCB0tPQfDQRgRVRQn5cO" %} [LARA tokenomics](/usdlara-token/lara-tokenomics) {% endcontent-ref %} # Vision What differentiates us ## :scales: Fairness in decentralization Most of the liquid staking protocols offer an easy way to stake for high returns. However, on the backside, they either manage the nodes they stake to or they have a close node running circle to which they devote the collected TVL. When it comes to decentralization, this is wrong on so many levels. ### :rocket: Ensuring high APY by constant monitoring Taraxa's DPOS setup enables us to move stakes from one validator to another without any cost. Therefore, we decided to not do the classical scheme of collecting stakes from the community and locking it inside a close group of validators: **by definition this is centralization**. However, then one could ask how we ensure optimal `APY`. The answer is simple: **by frequently monitoring and moving stakes.** ### :space\_invader: Fairness toward node runners This setup solves the burning problems our counterparts face on Ethereum: **centralizing decision-making to a selected group of nodes**. Lara, with its unique `APY tracking` mechanism, embraces any node runner who decides to get on the endeavor of extending the **Taraxa network. We will delegate to any node, regardless of the owner, under two circumstances:** * [x] The node is participating in consensus; * [x] The node provides high enough APY to suit the stake from Lara. However, when we evaluate validators, all factors are taken into consideration: * Current APY * Stability(historic APY) * Commission * Commission volatility(historic APY changes) ## :eyes: Enabling you to see what we see ### :question: Opening up node data Currently, validator data on Taraxa is scattered: * Detailed validator data is available on the Indexer API * Historical APY data available on the Community Site Node Profile page * List of validators ordered by blocks produced on the Taraxa Explorer We aim to change this two-fold: * [x] Push validator data on-chain via an oracle; * [x] Implement a validator ecosystem analytics page for the community. ### :robot: Automating staking for normies and more We fully believe that the real upside comes from expanding the ecosystem outside of "degens". For this, we aim to downgrade the barrier to entry for staking APY to the following: * [x] Have TARA tokens on a custodial wallet; * [x] Be able to sign a transaction. ## :open\_hands: Democratizing staking strategies Once we confirm that the Lara protocol is viable with all its parameters, we will open the creation & registration of new Validator Oracles to the masses. This will give any Oracle runner huge exposure in securing Taraxa or any other protocol for which Lara provides staking as well as a new stream of income. {% hint style="success" %} :money\_mouth: Providing validator analysis via Oracles lets you earn a commission of the staking rewards generated by the users following your oracle. {% endhint %} {% hint style="info" %} A Validator Oracle is a special smart contract that feeds validator scores into the system. {% endhint %} {% hint style="danger" %} Oracle registration will be available only to those $LARA holders who hit the required staking milestones for it. {% endhint %} ## Becoming the main Restaking & Lending protocol on Taraxa Our end goal for Lara is to be the go-to Eigenlayer-like liquid staking provider all across the Taraxa Ecosystem. ### What does that mean? Lara, with all its protocol-layer stakers, will create a huge pot of stake. Protocols creating partnerships with it will be able to tap into this stake via restaking services, thus reusing the pot of TARA staked to provide their own stake-based perks. Not only that, but we want to create Taraxa's first lending protocol that could use the same stake pot for collateral. Stay tuned for the advancements on this front as this is a mid- roadmap scope for late 2024. # Roadmap Let's keep it one step at a time Since Lara will **most likely handle a big portion of Taraxa's TVL** everything that we do must be followed by security checks. Everyone likes to make money, but we must make money while keeping stakers hard-earned investments 100% safe. Please keep this in mind when you evaluate our roadmap. ## Roadmap presentation

Roadmap in detail

## 2024 ### Q1 goals Our vision in one sentence for Q1 2024: **ensure a minimalistic but stable protocol, and build a thriving staking community through the $LARA DAO.** * Telegram launch :white\_check\_mark: * Discord launch :white\_check\_mark: * Lara PRNet testing :white\_check\_mark: * Lara frontend development :white\_check\_mark: ### Q2-3 goals Our vision in one sentence for Q2-3 2024: **launch a stable protocol then later on democratize staking data. In the meantime, we will be laying the groundwork for a vibrant DAO and successful governance process.** * June: outreach campaign * End of June: $LARA Token Deployment & presale * Cornus HF commences : Lara mainnet launch * Successful “trial period”
 * Lara Staking Explorer launch * Ongoing governance processes * Start of partnership developments ### Q4 Our vision in one sentence for Q4 2024: **make Lara the one-stop shop for liquid staking on Taraxa. Create partnerships with other token-based communities on Taraxa.** * Liquid staking implementation to all Taraxa ERC-20s via partnerships
 * Team expansion * Ongoing governance processes ## 2025 and beyond Our vision in one sentence for 2025 and beyond **the decision lies in the DAO's hands, and Lara becomes fully autonomous.** * Governance-based protocol decision making * Partnership development with other PoS chains * Potential start of expansion to other PoS chains # Lara Testnet Campaign Celebrate with us our testnet launch ## Main tl;dr * A total of 1M $TARA pot will be disbursed as a reward * A total of 3M $LARA pot will be disbursed as a reward * Participate in our Zealy social campaigns to earn XP. * You will be airdropped testnet $TARA tokens converted from the XP gathered daily. * Stake your $TARA tokens onto the [Testnet Lara Dapp](https://app.laraprotocol.com) to test & be eligible for a percentage of the prize fund. {% hint style="danger" %} MAKE SURE TO BIND YOUR WALLET TO YOUR ZEALY ACCOUNT {% endhint %} ### Activity Rules Users complete tasks on Zealy and earn corresponding XP. The Lara team will convert each user's XP to $TARA testnet tokens at a 1:1 ratio on a specified date and distribute them to the user's wallet. Users can then stake the received $TARA testnet tokens on Lara (testnet version) to earn rewards in $TARA mainnet tokens and $LARA. ### OG Bonus To appreciate the ongoing support of Taraxa OGs, during this event, we will provide a token bonus when converting XP to $TARA testnet tokens based on the amount of $TARA mainnet tokens in the active user's wallet (wallet + staking). {% hint style="warning" %} Make sure your wallet is bound into Zealy; otherwise, you won't receive this OG bonus. {% endhint %} * $TARA in wallet >= 10M: Zealy XP multiplier 2 -> XP\*2 * 5M <= $TARA <= 10M: Zealy XP multiplier 1.5 -> XP\*1.5 * 1M <= $TARA <= 5M: Zealy XP multiplier 1.3 -> XP\*1.3 ### Event rewards * $TARA Reward: Based on the amount of $TARA testnet tokens staked by users, at the end of the Testnet Campaign, you will receive your respective part of the 1M $TARA pot based on your individual stake ratio. * $LARA Reward: Based on the amount of $LARA testnet tokens staked by users, at the end of the Testnet Campaign, you will receive your respective part of the 3M $LARA pot based on your individual stake ratio. ### Event Timeline * Zealy campaign: from November 4th -> November 15th * $TARA testnet token distribution: daily starting with November 5th * Event reward distribution: December 1st ## Event walkthrough & nice to knows #### Make sure we know your wallet Open the Linked accounts in Zealy's Account Settings, scroll to the bottom, and you can bind your wallet address.

Make sure to display your wallet addresses

#### Complete Zealy tasks Complete Zealy tasks and gather XP
#### Receive testnet $TARA We will actively monitor your XP on a daily basis. Starting November 5th, we will airdrop your respective $TARA based on the XP you got that day.

Receive testnet $TARA

#### Stake your testnet $TARA onto $LARA Stake your received testnet $TARA tokens into Lara Protocol and receive $stTARA for it. For the purpose of this testnet campaign, these $stTARA tokens won't have any utility, but they will showcase how Lara Protocol will work on mainnet.

Stake your testnet $TARA into Lara Protocol

Do these repeatedly and you'll get a bigger portion of the prize pot! Cheers :tada: # Value Propositions What makes Lara a focal point of the Taraxa ecosystem {% hint style="info" %} **Summary:** This section describes why you're supposed to use Lara: * seamless and liquid staking * no KYC required * democratizing stake * maximizing staking APY {% endhint %} ## Staking - Problem Statement Since [DPOS staking](https://docs.taraxa.io/staking/staking-directly-on-chain) is in place, Taraxa enthusiasts have been facing several difficulties in reaping the benefits of the chain's enticing APY. Staking has been about locking one’s tokens in one project for a long time and expecting a fixed, predetermined staking reward in return. While it guarantees the return on staked tokens much like a bond, it also limits the opportunities of generating higher returns on those tokens from the DeFi ecosystem. If you’ve staked all of your crypto holdings, you can’t invest or trade in more profitable crypto pairs on exchanges. This is especially painful with the current protocol-level 7-day un-delegation period in place. ### Solution[​](https://docs.lido.fi/#solution) Liquid staking allows the use of the `st[TARA]` in other trading opportunities to let the user get the best of both worlds - a reward on your staked tokens, as well as the returns from new trading opportunities. Liquid staking introduces various fundamental benefits: * Making the staking process simple - no need to worry about hardware setup and maintenance in case you're thinking about running a node, not even about [on-chain interactions with the DPOS contract](https://docs.taraxa.io/staking/staking-directly-on-chain) or any other sophisticated on-chain process; * Making it possible to maximize rewards without the technical knowledge of writing complex scripts and listening to on-chain activity; * Providing the `st[TARA]` , a building block for other applications and protocols (e.g., as collateral in lending or other trading DeFi solutions). Liquid staking allows maximizing the potential while having the best of both worlds; * Providing an alternative to or even encompassing exchange staking, solo staking, and other semi-custodial and decentralized protocols;

Let Lara slowly fill your savings tank

## Reducing required on-chain activity Lara's first and most important goal is to make staking and with it the Taraxa ecosystem, reachable to non-degens. There's a vast ocean of untapped capital out there and we are serious about honoring the goal of Taraxa: implementing real-world use cases. Lara aims to solve this via: * Reducing staking to a one-click one-signature effort; * Providing easy-to-understand charts and data about everyone's and the protocol's figures; * Providing a GraphQL interface where anyone can freely juggle with staking queries: find out what you exactly want; * Getting rid of validator monitoring: while Lara will not support an internal group of validators, it will make sure that your stake always sits with the best validators; * Compounding: in case you're a long-term believer in Taraxa, you can stake with Lara, activate the auto-compounding feature, and come back months later to see a nice little return on your return. All this while making added money with the `st[TARA]` derivative in the emerging Taraxa DeFi ecosystem; ### No preferred validators Lara proposes to not interfere with the validator landscape at any time on Taraxa. Meaning, that there will **never be a set of preferred validators Lara will delegate user funds to.** \ Regardless**,** the minimal requirement for a validator to **be seen by Lara is to participate in consensus**. With the current technology in place, we see no way to track validators that do not meet these criteria. # APR and fees on Taraxa Understanding what you'll earn {% hint style="info" %} APY, which stands for Annual Percentage Yield, in the context of a Delegated Proof of Stake (DPoS) validator on Taraxa, refers to the annual rate of return that delegators can expect to earn from staking their tokens with a specific validator. This yield is expressed as a percentage and takes into account the compounding of staking rewards over a year. {% endhint %} {% hint style="info" %} APR, in the context of Lara, provides only the current estimation of the rewards without any upfront forecasts. {% endhint %} > User's APR (Lara staking APR) = Protocol APR \* (1 - Protocol fee) ## Protocol fee Lara applies an 8% fee on staking rewards that directly go into the DAO Treasury. The fee can be changed by the DAO pending a successful vote and we're more than sure will change until the launch of the protocol. We will regularly conduct DAO votes to not only allocate the DAO tokens but also part of the treasury to be used to further develop the protocol. # Managing st\[TARA] What you need to be aware of while using Lara While being on the top of the staking game, no one is a wizard. We envision an even more liquid way of staking than Lido on Ethereum. However, certain restrictions still need to be in place.🥁​​ ### No stTARA, no rewards While Lido remaps rewards daily, Lara's `st[TARA]` does that a lot more frequently via creating holder snapshots. {% hint style="info" %} **Code is law: T**aking a snapshot is publicly open but can't be done more frequently than configured in the smart contract's `epochDuration` blocks. If you hold your `st[TARA]` at the moment of snapshots, you will instantly receive your staking rewards directly to your balance in `st[TARA]`. {% endhint %} #### What is a holder snapshot? A holder snapshot captures the current distribution of `st[TARA]` . This distribution is then used to calculate every delegator's rewards, snapshot by snapshot.

Momentary distribution of stTARA from a staking pool's perspective

**Let's follow an example:** 1\. When Lara starts an epoch, the first 4 stakers are named Anne, David, Joe, and Dan who have staked `345(34,5%), 109(10,9%), 218(21,8%), and 327(32,7%)` `TARA` into Lara. When they did this, they received the 1:1 amount in `st[TARA]`. After they did this, Lara instantly staked their tokens and after a few blocks, a snapshot was taken. When that happened, Lara claimed all staking rewards until that moment. In the same transaction, the total reward of that epoch was distributed between the 4 stakers, in the initial slices. 2\. If, during the staking epoch, someone else comes and stakes their tokens, those stakers will be included in the next snapshot, thus eligible for the snapshot's reward distribution. 3\. If you do any action that transacts your `st[TARA]` from your address to another, and a snapshot is taken, the new address will be qualified for the rewards, regardless of the time you held the amount of `st[TARA]`. Beware of this when using DeFI protocols. Make sure that their pools or any other instruments are aware of the staked token mechanics and will reroute your yields to you. ### Once you stake, you need to wait for the unstaking period Lara helps you keep your assets liquid but is no magician and can't circumvent Taraxa's delegation rules set in the [DPOS precompiled contract](https://github.com/Taraxa-project/taraxa-evm/blob/master/taraxa/state/chain_config/chain_config.go#L68). Once Lara delegated your TARA tokens and you received the `st[TARA], you can only receive your TARA back by requesting an undelegation and waiting the undelegation time.` {% hint style="warning" %} To create an undelegation request for a specific amount of `TARA` , you need to approve the Lara contract for that amount of `st[TARA]` and call its `requestUndelegate` function with the amount. This function will burn your `st[TARA]` and register your claim for the same amount of `TARA`. {% endhint %} {% hint style="success" %} Once you created an undelegation request you can cancel it anytime via calling Lara's `cancelUndelegate` function. {% endhint %} {% hint style="success" %} Once your undelegation period passed, you can claim your `TARA` tokens via Lara's `confirmUndelegate` function. {% endhint %} ### For LP providers and custodial protocols {% hint style="warning" %} Protocols that want to interact with `st[TARA]` in a custodial manner will need to be implemented against the fact that their custodial contracts will receive user rewards.​ {% endhint %} {% hint style="danger" %} For users using protocols that demand you to transfer `st[TARA]:` make sure to read the protocol documentation and inspect the source code of the smart contract you transfer your `st[TARA]` to, since it transfers your claim for the staking rewards.​ {% endhint %} # What is wst\[TARA] What is the wrapped staked TARA and why you should use it ## wstTARA: Wrapped Staked TARA Token ### Overview **wstTARA** (Wrapped Staked TARA) is an ERC-4626 compliant vault token that wraps **stTARA** (Staked TARA) tokens to make them more compatible with DeFi protocols while preserving their yield-generating capabilities. It solves the common problem of rebasing tokens being difficult to integrate with DeFi applications. ### Key Features #### 1. ERC-4626 Vault Standard * Implements the ERC-4626 vault standard, which is specifically designed for yield-bearing tokens * Provides standardized deposit, withdrawal, and conversion functions * Enables seamless integration with DeFi protocols that support ERC-4626 #### 2. Yield Preservation * Maintains the yield-generating capabilities of stTARA * Automatically accrues and distributes staking rewards * Preserves the underlying value of staked tokens #### 3. DeFi Compatibility * Converts rebasing **stTARA** into a non-rebasing token format * Maintains a stable token balance while the underlying value increases * Enables easier integration with: * DEXs (Decentralized Exchanges) * Lending protocols * Yield aggregators * Other DeFi applications ### How It Works #### Token Wrapping 1. Users deposit **stTARA** tokens into the **wstTARA** contract 2. The contract mints **wstTARA** tokens in a 1:1 ratio initially 3. The underlying **stTARA** tokens are locked in the contract #### Yield Accrual 1. As **stTARA** generates staking rewards, the total value of locked tokens increases 2. The **wstTARA** contract tracks the increasing value of underlying assets 3. Users can withdraw more **stTARA** than they deposited, reflecting the accrued yield #### Value Conversion * The contract maintains conversion rates between **wstTARA** and **stTARA** * As rewards accrue, the conversion rate adjusts automatically * Users can withdraw their **stTARA** plus accrued rewards at any time ### Benefits #### For Users * Simplified yield tracking (no need to track rebasing events) * Stable token balances for DeFi interactions * Maintained exposure to staking rewards * Easy conversion between **stTARA** and **wstTARA** #### For DeFi Protocols * Standardized interface through ERC-4626 * Predictable token balances * No need to handle rebasing mechanics * Simplified integration with existing DeFi infrastructure ### Technical Implementation The wstTARA contract inherits from three key OpenZeppelin contracts: * `ERC20`: Basic token functionality * `ERC20Permit`: Gasless approvals * `ERC4626`: Vault standard for yield-bearing tokens ```solidity contract WrappedStTara is ERC20, ERC4626, ERC20Permit { IstTara public immutable stTARA; constructor(address _stTARA) ERC20("Wrapped Staked TARA", "wstTARA") ERC20Permit("Wrapped Staked TARA") ERC4626(IERC20(_stTARA)) { stTARA = IstTara(_stTARA); } } ``` ### Use Cases 1. **DEX Liquidity Pools** * Provide liquidity with wstTARA without dealing with rebasing * Earn both staking rewards and trading fees 2. **Lending Protocols** * Use wstTARA as collateral * Maintain stable collateral value while earning staking rewards 3. **Yield Aggregators** * Automatically compound staking rewards * Optimize yield strategies with stable token balances 4. **Cross-Protocol Integration** * Seamlessly move between different DeFi protocols * Maintain yield exposure throughout the DeFi ecosystem ### Conclusion wstTARA serves as a crucial bridge between staking rewards and DeFi applications. By wrapping stTARA in an ERC-4626 vault, it enables users to participate in DeFi while maintaining their exposure to staking rewards. This solution makes rebasing tokens more accessible and usable in the broader DeFi ecosystem. # $Lara Token This section contains everything about the Lara token ## TGE The $LARA token was deployed to the Taraxa Mainnet successfully on the 28th of July, marking the birth of the Lara DAO & the Lara Protocol. Explorer links: * * [ https://tara.to/token/0xE6A69cD4FF127ad8E53C21a593F7BaC4c608945e](< https://tara.to/token/0xE6A69cD4FF127ad8E53C21a593F7BaC4c608945e>) ## Important Stats After our presale, we have: * 100M $LARA in circulation * 25.1M $TARA raised * 55 individual holders & DAO members
# LARA tokenomics First and foremost a governance token with lots of utility ## Why should you hold $LARA? To have a vote in the Lara DAO, and to contribute to the determination of any of the topics outlined above, one must hold the `LARA` governance token. Holding `LARA` gives DAO members a vote in the future of Lara, allowing each DAO member to have a personal say in the community. `LARA` voting weight is proportional to the amount `LARA` a voter holds. The more `LARA` on a user’s address, the greater the decision-making power the voter gets. The exact mechanism of `LARA` voting can be upgraded just like the other DAO applications. {% hint style="info" %} **35% of $LARA tokens will be minted and attributed to the Lara treasury on token deployment. Anyone can propose how they can be used. If you have any initiatives you think will benefit the Lara protocol, share your thoughts in our governance forum in Discord and initiate a vote on Snapshot if properly backed by $LARA holders.** {% endhint %} ## Tokenomics

Token distribution

| Allocation | Percentage of Total Suppy | Explanation | | --------------------------------------- | ------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | DAO treasury | 30% | NO emission schedule yet. **Expense subject to governance vote**. | | Early users | 3% | Distributed to early users via airdrop once the protocol "trial period" ends. | | Investors | 12% | 3 month cliff, 12 month-long even vesting period. | | Presale | 10% | We aim to make the protocol lauch, as well as the DAO more populated by providing a presale buy opportunity. **A special Presale contract will hold $LARA that people can buy from TGE until the end of the presale period. All remaining supply will be burnt at the end of presale.** | | DEX LP incentives and signature holders | 10% | Used to provide LP incetives for DEXes and to reward pontential community representatives for their work. | | LARA developers | 20% | Will be used to cover development expenses after launch. **Expense subject to governance vote**. | | Initial Team | 15% | **5% unlocked instantly** to core members, even distribution. For the **remaining 10%: 3 month cliff, 24 month-long even vesting period.** | {% hint style="info" %} The protocol **Trial period** refers to the first 8 weeks after the mainnet launch, in which we'll conduct a closed alpha. {% endhint %} ## Utility Besides offering a base of democratization, we truly believe that any token requires a valuable base of utility to be of interest to modern stakers. ### $LARA staking At the protocol launch, a LARA staking service will be available to users. Staking LARA will be the entry point to be an active user of the whole ecosystem. `tl;dr:` **If you own LARA, you can benefit from better perks, if not, just use the Dapp and that's it.** #### Benefits of staking $LARA - staking milestones Upon hitting staking milestones volume- and time-wise will give you discounts on the commission LARA takes on your staking, resulting in the fact that you will directly earn more, stackable with voting discounts. {% hint style="success" %} Staked LARA will still give you voting rights 1:1 to $LARA tokens held in your wallets. {% endhint %} {% hint style="info" %} Staking milestones will be defined after the presale has been finished, together with the presale holders, to make them truly reachable. {% endhint %} # LARA presale Everything you need to know about the presale ## Valuation Currently, there are exactly `2,1 billion TARA` staked. Considering the success of predecessors and the ease Lara brings to stakers, we are aiming to capture a conservative `30% of the TVL` which would provide a `TVL valuation of` 3.436.020 `USD` without considering the attracted new stakers since the barrier to entry will be lowered significantly. Looking at other restaking/liquid staking protocols, and factoring in the huge upside Taraxa has as an ecosystem, we aim for a short-term `Market Cap of` 1.374.408 `USD(40% of TVL).` When we're talking about the value of $LARA tokens, we aim to represent the total value that Lara manages & through Lara it secures the Taraxa network, factoring in the tokenomics of our predecessors on other chains. We strongly believe that this value will skyrocket in the mid-term and will steadily keep increasing ever after. ## Token Generation Event At the `$LARA` contract deployment, `1.000.000.000(1 billion)` maximum supply will be minted(ERC-20) and distributed according to[LARA tokenomics](/usdlara-token/lara-tokenomics#tokenomics). ## Presale price For the `10% presale allocation`, we'll provide a `10%` discount to early supporters and DAO enthusiasts. The exact price will be determined at TGE, but at the time of writing, this would mean a total presale valuation pool of `~140 000 USD` (140 thousand), resulting in a token price of `1 $LARA ~ 0,0014 USD` or `1 LARA ~ 0,256 TARA` . While this doesn't leave us too long of a runway, we're committed to seeing the #TARA price rise hoping for an extended valuation, and thus an extended runway in terms of USD. ## Presale Process - LIVE on the 28th of July 4 PM CEST The official `Lara Presale` has been announced in collaboration with a group of mid-sized KOLS on all our social media accounts. {% hint style="success" %} ## Our presale is officially sold out after just \~6 hours. We're grateful for the supporting community. {% endhint %}
#### How to participate #### When the presale will open, you'll have the chance to exchange your `$TARA` for at least \`1000 $LARA\` on the official presale page. {% embed url="" %} Officla Lara Presale page {% endembed %} Terms of service: * Users must hold $TARA tokens to be able to participate. * On the morning of the presale the $LARA TGE will happen and the official contract address(CA) will be communicated & source code uploaded to Sourcify & Tara.to for fairness. * On the `Presale page` users will be able to directly interact with the `Lara Token contract` to swap their $TARA tokens for $LARA tokens on the ratio listed exactly below the swap

Lara presale UI

{% hint style="warning" %} To ensure fairness in distribution, we impose a one-time swap upper limit of 5`.000.000 TARA at a time.` {% endhint %} {% hint style="danger" %} Once you hit your`1M TARA swap limit`, you will be waitlisted for 900 blocks(cca 1 hour). After that, you can swap again. {% endhint %} {% hint style="warning" %} The presale will last exactly 7 days from the moment of announcement. After that, the presale contract will not accept transactions anymore. All tokens not claimed will be burned, reducing the total supply forever. {% endhint %} {% hint style="success" %} From the moment you own $LARA, you'll be granted the opportunity to raise improvement proposals as well as vote on other proposals. {% endhint %} {% hint style="danger" %} Trading $LARA will not be supported via DEX-es only after protocol launch. {% endhint %} # Private Sale Rules & T\&Cs ## Valuation Since Lara DAO is a community-first initiative, we've set up a unique system of token releases that prioritizes small holders and early supporters. The presale had a `1 $LARA = 0.25 $TARA` valuation and has sold out in a matter of \~6 hours. This proves that there's significant traction and demand for the project, its community initiative, and the token itself. Therefore, we're upping the request to the valuation of `1 $LARA = 0.3 $TARA` for the private sale rounds. ### Allocation As per [LARA tokenomics](/usdlara-token/lara-tokenomics), 12% of the total supply is allocated to private investors. ## Terms of Private Sale * There are 120M $LARA allocated for presale starting at a pledge price of 0.3 $TARA (1 $LARA = 0.3 $TARA \~ 0.0016059 USD). * Private investors can pledge for a number of tokens with their specific price above the pledge price: anyone can offer 0.32 $TARA(0.00171392 USD) each for the full 120M or just for 60M, entirely up for personal preferences. * We are taking into consideration & prioritizing private investors with strong connections in the crypto & DeFi space - people who can introduce us to key stakeholders and arrange warm intros. * On the 5th of August, we'll list the tokens 5-10% higher than the highest pledge we get for the private $LARA, if no pledge happens, the DEX listing price of the token will be 0.4 $TARA(0.002144 USD per $LARA). * Once listed on DEX, all subsequent private round token prices will match the listing price or current price. {% hint style="success" %} Once the DEX listing happens, we will not offer private token rounds for less than the current market price. Lara DAO is community-first and we don't want to undermine the value our presale holders have by discounting tokens for private investments. {% endhint %} # Lara staking All details about staking Lara ## tl;dr The Lara Stakign mechanism has been implemented based on a vested token logic whose full maturity is 6 months. For more details, refer to the [relevant governance vote](https://snapshot.org/#/laradao.eth/proposal/0xac59595a36b1288d257e2b41523bef4bcfa691bff6201cac9eea757f60f69fee) on our Snapshot Space. Staking Lara is important for the health of the overall Lara ecosystem. By staking, users are gaining a plethora of benefits, like: * Earning yield: with a targeted `~13% APY` , staking is a meaningful income source. The best thing is that staked Lara tokens still count toward your voting power in the `Lara DAO`. * Gain commission discounts: for Lara Protocol to operate, it takes `10%` a commission on your staking yield. The more you stake, the smaller your commission can be. More about staking milestones in its own page at # * A new way of locking supply: staking is a mechanism on its own. In addition to that, the vested `LARA` tokens (`veLARA`), are a convenient way of trapping token supply and monitoring future emissions. {% hint style="success" %} `$veLARA` balances account as additional voting power, cumulatively with both your `$LARA` balance and `$LARA` staked. {% endhint %} {% hint style="warning" %} 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. {% endhint %} ## The Lara Staking mechanism ### Building blocks #### The Vested LARA token($veLARA) The `veLARA` is a simple vested ERC-20 token that helps delay inflation, aligning with the proposal outlined on [Snapshot](https://snapshot.org/#/laradao.eth/proposal/0xac59595a36b1288d257e2b41523bef4bcfa691bff6201cac9eea757f60f69fee). This mechanism ensures a sustainable reward distribution over time. #### The Lara Staking contract The Staking contract is the central hub of logic and the main point of interaction. ### Staking flow #### 1. Stake Lara 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. #### 2. Claim Staking Rewards 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. #### 3. Redeem Lara Tokens Users who have claimed their staking rewards at least once can redeem their `veLARA`tokens 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 %). #### 4. View Current Rewards and Stake Information 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. # Staking Milestones Bringing utility through staking ### Staking milestones These staking milestones are designed in an easy-to-attain to hard-to-attain way. {% hint style="success" %} Staking milestones are cumulative, meaning that if you attain a higher one, you still benefit from the other ones on the way. {% endhint %} {% hint style="info" %} The Lara Protocol tracks staking in real-time, meaning that if you increase your staked `LARA` tokens and hit additional milestones, they will instantly contribute to your commission discounts. {% endhint %} {% hint style="warning" %} The same is true the other way around. If you unstake your `LARA` tokens, your commission discounts are revoked in real-time. {% endhint %} #### Milestone 1: 1M LARA staked Every Lara Protocol user who has 1M `LARA` staked is getting an additional 1% commission discount. #### Milestone 2: 2.5M LARA staked Every Lara Protocol user who has 2.5M `LARA` staked is getting an additional 1% commission discount. #### Milestone 3: 5M LARA staked Every Lara Protocol user who has 5M `LARA` staked is getting an additional 1% commission discount. #### Milestone 4: 10M LARA staked Every Lara Protocol user who has 10M `LARA` staked is getting an additional 1% commission discount. #### Milestone 5: 25M LARA staked Every Lara Protocol user who has 25M `LARA` staked is getting an additional 1% commission discount. #### :soon: Milestone 6: 50M LARA staked - coming soon Every Lara Protocol user who has 25M `LARA` staked is getting an additional 1% commission discount. In addition, they can create validator oracles and take a % of the total yield generated by users. This is a draft and will be voted on by the community. {% hint style="info" %} Example: Adam has 10M TARA staked in the Lara Protocol, 1M LARA in his wallet and 6.3M LARA staked. This would mean that: * instead of the 10% base commission, Adam's commission is 7%. * Adam's voting power equals 7.3M LARA: the sum he staked + the LARA in his wallet. * Adam makes 13% yield on his 6.3M LARA staked. This nets him an additional `820 000 LARA`tokens on a yearly basis. {% endhint %} # Explaning $veLARA Everything about the vested LARA token ## Maturity period debunked As voted on by the Lara community in its first [DAO proposal](https://snapshot.org/#/laradao.eth/proposal/0xac59595a36b1288d257e2b41523bef4bcfa691bff6201cac9eea757f60f69fee), `$veLARA` tokens have a maturity period of 6 months and a linear exchange rate. This simply means that from the moment you claim `$veLARA` tokens as a staking reward you need to wait 6 months to be able to redeem it `1:1` in the Lara Protocol. You can redeem it earlier too, but it will proportionally be worth less `$LARA` the quicker you redeem it. All `$veLARA` redeemed is instantly burnt. {% hint style="info" %} Example: \ Bob claimed 1000 `$veLARA` as staking rewards today. If he is: * redeeming them the next day, he's getting a very very small amount of `$LARA` for it. * redeeming them in 3 months, he's getting exactly 500 `$LARA` for it. * redeeming them in 6 months, he's getting the full 1000 `$LARA` for it. * redeeming after the 6 months have passed doesn't add a multiplier to the value, Bob will still get 1000 `$LARA` for his `$veLARA`. {% endhint %} ## What $veLARA is vs isn't The token is a vested version of the token. It serves as a way of locking supply and optimizing emission rates of the underlying token. ### Why is $veLARA good for the $LARA ecosystem * Through introducing `$veLARA`, we keep inflation and additional token emissions as low as possible. * `$veLARA` serves as a receipt for your future claimable `$LARA`. * Having vested staking rewards we're enforcing protocol usage by minimising negative price pressure. * Enhances the voting power of people who actively partake in the Lara Protocol. ### What $veLARA isn't * Although you have full access to trade or transfer `$veLARA` tokens, they are not designed to be a freely tradeable asset with a secondary market in place. {% hint style="danger" %} When someone claims `$veLARA` tokens as staking rewards, only that address can redeem them for `$LARA.` `Example:` `Bob staked 1000 $LARA and claimed 50 $veLARA as staking rewards. Then, Alice buys the 50 $veLARA from Bob and then tries to redeem $LARA tokens for it. Alice will fail redeeming because Bob is the only one that can exchange those 50 $veLARA tokens for $LARA.` {% endhint %} # Redeeming $veLARA When and where is it possible ## Lara Protocol is a single hub for everything The [Lara Protocol application](https://app.laraprotocol.com) is serving as a single hub for: * staking $TARA * staking $LARA * withdrawing $TARA * claiming $veLARA * redeeming $veLARA We designed the protocol to be as easy to use as possible, having the ease of use at the forefront of our priority list. # Why a DAO? About our community ## Scope of the DAO The Lara DAO is a Decentralised Autonomous Organisation that manages the liquid staking protocol and all possible future sub-protocols by deciding on key parameters (e.g., setting fees, staking epoch lengths, maintaining parity with the underlying chain's building block and oracles, etc.) through the voting power of governance token (`LARA`) holders. Also, the DAO will accumulate service fees and spend them primarily on research, development, incentives, and protocol upgrades. We aim to be this transparent ## Why is a DAO necessary The DAO is the logical compromise between a team or a community-driven protocol, which allows the deployment of competitive products without full centralization and custody of the exchanges. While we have full trust in the Taraxa ecosystem, the chain is in its infancy and we strongly believe that running Lara still needs to be mainly done by an underlying team. However, setting up a DAO is a statement to the future, where we, the Lara team would step back and let Lara thrive fully in the community's hands. For now, this is what the DAO will be tasked with: * Enabling a focus on community might offer a more socially conscious structure and consequent decision-making; * Covering the costs of developing and upgrading the protocol from the DAO token treasury, including the reimbursement of personnel or individual contractors; * Takes care of other management activities as well if there is a technical ability or direct necessity; The DAO will be the deciding body on changes in the protocol. Whether there's a quicker snapshot necessary or a better APY calculation, the DAO will decide. # DAO Terms & Conditions Terms of Service for Lara DAO
Effective Date: 28.07.2024
Welcome to Lara DAO (“DAO”). By accessing or using our platform, you agree to be bound by these Terms of Service (“Terms”). If you do not agree to these Terms, do not use our services.
1\. Acceptance of Terms
By accessing or using the services provided by the DAO, including participating in the DAO, voting, and any other activities, you agree to be bound by these Terms. These Terms apply to all members, contributors, and any other participants in the DAO.
2\. Definitions
• DAO: Decentralized Autonomous Organization operating through smart contracts on the blockchain. • Member: Any individual or entity that holds tokens issued by the DAO and participates in its governance and activities. • Token: Cryptographic tokens issued by the DAO that grant the holder certain rights within the DAO. • Smart Contract: Self-executing contracts with the terms of the agreement directly written into code on the blockchain.
3\. Eligibility
You must be at least 18 years old and capable of forming a legally binding agreement to participate in the DAO. By using our services, you represent and warrant that you meet these requirements.
4\. Membership and Participation
Membership in the DAO is acquired through the holding of DAO tokens. Members can participate in governance, voting, and other activities as defined by the DAO’s smart contracts and governance model.
5\. Governance
The DAO operates through a decentralized governance model. Decisions are made by member votes, which are weighted based on the number of tokens held. The specific processes for proposing, voting on, and implementing decisions are detailed in the DAO’s governance documentation.
6\. Contributions
Members may contribute to the DAO in various ways, including but not limited to, providing services, developing software, or creating content. Contributions are rewarded as per the DAO’s reward mechanisms, which are governed by smart contracts.
7\. Token Usage and Distribution
Tokens are used to represent voting power and can be earned, bought, or distributed as per the DAO’s guidelines. The initial distribution, ongoing issuance, and transfer of tokens are governed by the DAO’s smart contracts.
8\. Intellectual Property
All intellectual property created within the DAO, unless explicitly stated otherwise, is owned by the DAO. Contributors grant the DAO a perpetual, irrevocable, royalty-free license to use, modify, and distribute their contributions.
9\. Disclaimers
The DAO is provided on an “as-is” and “as-available” basis. We make no warranties, expressed or implied, regarding the DAO’s functionality, security, or performance. Participation in the DAO is at your own risk.
10\. Limitation of Liability
To the maximum extent permitted by law, the DAO shall not be liable for any indirect, incidental, special, consequential, or punitive damages, or any loss of profits or revenues, whether incurred directly or indirectly, or any loss of data, use, goodwill, or other intangible losses, resulting from your participation in the DAO.
11\. Changes to Terms
The DAO reserves the right to modify these Terms at any time. Changes will be effective immediately upon posting. Your continued participation in the DAO after any such changes constitutes your acceptance of the new Terms. # Understanding the DAO What are the Lara DAO's functions ## Functions Lara is managed by the Lara DAO. The DAO members govern Lara to ensure its efficiency and stability. The Lara DAO should do the following: * Build, deploy, update, and decide on key parameters of liquid staking protocols, approve incentives for parties that contribute towards DAO’s goals; * Approve LGC(Lara Grant Committee) grants to support different research and initiatives that are worked upon for the benefit of the protocol; * Payments to full-time contributors and other operational duties; * Bug bounty program, respond to emergencies; * Accumulation of service fees from Lara, which can be funneled into the insurance and development funds, distributed by the DAO; ### Actions & Governance The `LARA` token governs all Lara DAO governance and network decisions to ensure its prolonged stability and decentralized decision-making to facilitate the growth of fair, and transparent liquid staking. The `LARA` contract address - `coming soon`. To have a vote in the Lara DAO, and to contribute to the determination of any of the topics outlined above, one must hold the `LARA` governance token. Holding `LARA` gives DAO members a vote in the future of Lara, allowing each DAO member to have a personal say in the community. `LARA` voting weight is proportional to the amount `LARA` a voter holds. The more `LARA` on a user’s address, the greater the decision-making power the voter gets. The exact mechanism of `LARA` voting can be upgraded just like the other DAO applications. #### Software Preparation for governance votes & communication will be managed via Dedicated Discord channels. Voting will be conducted via Snapshot. {% hint style="info" %} Our Snapshot space has been registered at and our DAO has officially claimed the `laradao.eth` ENS name. {% endhint %} # Proposal guidelines & template Everything you need to know to submit proposals {% hint style="success" %} Our Snapshot space has been registered at and our DAO has officially claimed the `laradao.eth` ENS name. {% endhint %} ## Important guidelines #### Who can vote Anyone having any $LARA token allocation can vote on ongoing proposals. Their voting power is equal to the $LARA tokens they hold. {% hint style="success" %} When we launch `$LARA stake`, the staked tokens will also contribute to your voting power. {% endhint %} #### Who can create proposals Anyone having at least `500,000 $LARA` tokens can create proposals. All proposals must adhere to the guidelines outlined in this section of the official Lara DAO Gitbook, the latest published template, and must contain direct & objective descriptions. All other proposals will be deleted for housekeeping purposes. ## Template ```markup # Proposal: [Title of Your Proposal] ## Summary Provide a brief overview of what your proposal aims to achieve. Clearly state the problem you are addressing or the feature you propose implementing. ## Motivation Explain the reason behind this proposal. Describe why this change or feature is essential for the Lara ecosystem. Highlight any potential benefits or improvements it would bring. ## Proposal Details Go into the details of your proposal: ### Goals Outline the specific goals of your proposal. What do you intend to achieve by implementing this change or feature? ### Implementation Describe the technical details of how you plan to implement this proposal. Include any relevant code changes, architecture considerations, and dependencies. Provide a step-by-step explanation if applicable. ### User Experience Explain how Lara DAO members and Lara Protocol users will interact with this proposal. How will it impact their experience? If it's a user-facing feature, consider providing visual mock implementation. ``` # Contracts Our setup in detail The Lara Protocol smart contracts underwent a public security audit and got open-sourced right after on the 16th of October 2024.

CredShields Audit badge

## Repository The smart contract code is publicly available at the Lara Protocol [liquid-staking repository](https://github.com/Lara-staking/liquid-staking). ### Solidity Docs To understand the code more deeply, please consult our Specs hosted on [GitHub Pages](https://lara-staking.github.io/liquid-staking/). # Security Audit List of security audits done on the Lara Protocol ## Pre-launch audits

CredShields audit badge

### CredShields security audit * Date of start: 1st of October 2024 * End date: 8th of October 2024 * Retest done on the 14th of October 2024 * Publication date: 16th of October 2024 During the audit, 0 vulnerabilities were found with a High or Critical severity rating. These vulnerabilities represent the greatest immediate risk to "Lara Protocol" and should be prioritized for remediation, and fortunately, none were found. 13 Medium or Low impact vulnerabilities were identified. A retest was performed on the 14th of October 2024, and all the bugs have been addressed. CredShields has published the audit to [their official repository](https://github.com/Credshields/audit-reports/blob/master/Lara_Liquid_Staking_Final_Audit_Report.pdf) and it is available below: {% file src="/files/x3MI5VcdjONpabsFxLv6" %} # Lara App walkthrough How to use Lara Protocol ## Connecting your wallet When you open the Lara App, you can click on any of the connect buttons to connect your wallet(Metamask as an example)

Click any of these to connect

Once connected, you should see your wallet address like this:

An example for a connected address

### How to stake $TARA When you open the app, you should see this central card with a single main call to action: STAKE.

How to stake

All you need to do is complete the amount input with the number of TARA tokens you want to stake, and then click the stake button:

Adding the amount to stake

This should trigger a transaction and stake your tokens {% hint style="danger" %} The minium amount to stake is 1000 $TARA {% endhint %} ## How to Undelegate $TARA If you want to take our your $TARA tokens from Lara Protocol, you need to proceed to the [Withdrawals](https://app.laraprotocol.com/withdrawals) page and create an undelegation request. {% hint style="danger" %} Undelegation requests are subject to the same undelegation period as direct staking, but they perceive no commission. {% endhint %} The action is the same as on staking, you just need to specify the amount staked and you must have more $stTARA than the specified amount, but the prerequisites are a bit more complex. When you request a withdrawal, your equivalent amount of `$stTARA` is burnt instantly, therefore you need to approve the Lara Protocol contract to burn those on your behalf. This triggers an additional approval request in your wallet. * [ ] First you need to specify a bigger spending cap than the specified withdrawal amount. The app will prefill this with the maximum integer amount in Solidity. * [ ] Then, you need to approve that amount. * [ ] Once that's done, a final popup is going to spawn with the request withdrawal contract interaction. ![](/files/o7nOHrkBqGYK1Harqjnz)![](/files/XBov1V5dVOJ2PLg0JFfY)
Once this is done, our stack will show, after a minute or so, your pending request:

One claimable request

{% hint style="success" %} The green section shows the amount of withdrawal requests that are claimable {% endhint %} {% hint style="warning" %} The yellow one shows the amount of withdrawal requests that are not claimable yet. For those, you need to wait for the chain's unlock period. {% endhint %} ## Claiming withdrawals On the [Withdrawals](https://app.laraprotocol.com/withdrawals) page, you can move to the Claims tab via clicking the "Claim" toggle

Claim view

This will open the list of claims you have and you'll see a "Claim All" button that can be used to claim all ready ones instantly, in one click.

Claiming a withdrawal request

Once this is done, the UI will update and you will be able to see if there are other outstanding requests or not:

No available claims available

Happy staking! :tada: # For Passive Stakers {% hint style="info" %} **Good to know:** if you're looking to use Lara only to accumulate the high APY Taraxa staking currently offers, this is the place for you. {% endhint %} {% hint style="warning" %} **Also good to know**: Staking the native asset of a young chain poses risks. If you want to stake your tokens, your value will be locked inside the protocol for at least 32 days(currently, might be subject to change). This timespan is defined by the Taraxa protocol, and Lara has no way to go around it. Stake with caution! {% endhint %} ## How to simply stake with Lara Go to our [Staking page](https://tlara.xyz/stake), connect your EVM-compatible wallet, switch to the Taraxa mainnet, and stake the amount you desire. ### What you will receive from Lara Once Lara registers your funds, you'll get the equivalent `st[TARA]` minted to your wallet. When you accrue staking rewards, your balance will simply tick up, without a transaction. Oh, and it compounds. Simple as that :relaxed:. # For DAO members {% hint style="info" %} **Good to know:** for `Lara` token holders, the tokens do not, in any way or form, grant access to the accrued commission the protocol collects for regulatory reasons. `Lara` is a governance token that provides holders the right to participate in governance decisions, propose ideas, and vote on important changes within the ecosystem. Your voice matters, and with **$LARA**, you have a direct say in Lara's evolution. {% endhint %} ## :man\_factory\_worker: Be an active user To propose educated ideas, you should be an active user of the protocol. However, this does not limit other **$LARA** holders to participate in the DAO's lifecycle. Therefore, we highly encourage the users of the protocol to accrue **$LARA tokens to be able to stand up for themselves in voting.** ## :construction\_worker: The decision-making process The process is going to be pretty straightforward: * We'll be using an official communication channel to enable proper community collaboration: Discord -coming soon. * We'll be using an official token-gated voting tool: Snapshot - coming soon. * We'll be registering the details of every proposal voted on in a public place: GitHub - coming soon. ### Socials Socials are available at the following [LinkTree](https://linktr.ee/LaraProtocol).