💵Managing st[TARA]
What you need to be aware of while using Lara
Last updated
What you need to be aware of while using Lara
Last updated
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.🥁
While Lido remaps rewards daily, Lara's st[TARA] does that a lot more frequently via creating holder snapshots.
Code is law: Taking 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].
A holder snapshot captures the current distribution of st[TARA] . This distribution is then used to calculate every delegator's rewards, snapshot by snapshot.
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.
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. 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.
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.
Once you created an undelegation request you can cancel it anytime via calling Lara's cancelUndelegate function.
Once your undelegation period passed, you can claim your TARA tokens via Lara's confirmUndelegate function.
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.
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.
