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2 Accelerated staking feature available until year's end

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INTRO TO STELLAR

Stellar is an open-source platform for currency payments.

THE POWER OF STELLAR

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SDF Blog


ACCELERATED STAKING FEATURE AVAILABLE UNTIL YEAR'S END



STELLAR DEVELOPMENT FOUNDATION



Jan 12, 2022



Stellar's intent has been to be a fast, efficient payment system with support
for digital representations of any currency. By design, the network needed its
own built-in token, the Lumen. Lumens are required for opening accounts, paying
fees and act as a a digital-first asset that embraces the openness of the
internet and is fully independent of economic or political factors.


The initial total supply of Lumen was 100 billion, but after the Network Upgrade
in 2015, the cancellation of the inflation mechanism and the reduction of supply
in 2019, the total supply was reduced to 50 billion. But from the total supply,
only 24 billion Lumens are what we consider to be circulating supply. This is
comprised of lumens owned by individuals and independent companies. These are
lumens out in the world, used to pay network fees and fund Stellar accounts.
They are also used as a general medium of exchange. The remainder of 26 billion
Lumens are stored in the SDF Mandate account, Network Upgrade Reserve account,
or Fee Pool.

RAISING LIQUIDITY WITH 25M LUMENS

In order to raise the Network liquidity following the 18 Protocol Upgrade, a
decision was made to release the unclaimed Lumens from the Network Upgrade
Reserve account, which basically is an escrow for old network users to claim
their old tokens at the time of the new Stellar Consensus Protocol launch in
2015. These tokens have mostly been claimed so far. From the initial balance of
82,823,331,293 Lumens, only 259,580,194 remain in escrow and have not been
claimed at all. Validators voted for the distribution of these unclaimed Lumens
in an accelerated staking plan, before the end of February 12th.

ACCELERATED STAKING FEATURE

Starting January 12th, 18:00 UTC and ending on February 12th, 23:59 UTC, the new
feature is available for all network users.

The feature is a simple staking delegation but in an accelerated time-user base,
which means the more users start staking, the lower the reward percentages.

This method ensures that all claimable Lumens will be distributed in the two
week period and that early stakers get higher rewards. The algorithm mixes the
deflationary formula with a hybrid dutch auction system.

x - y / x cmin≤ ck≤ ck−1cmax> ck >1


Simply put, users are stimulated to start staking sooner and as more users start
staking, the payout decreases. Increments are paid at the 24 hour cycle ending,
each day at 18:00 UTC, starting January 12th.

HERE’S HOW TO USE THE FEATURE

Access the Stellar Account Viewer tool. Sign into your account. Click the
Accelerated Staking feature button. Select a Special Validator from the dropdown
list. Sign the authorisation transaction. No fees are charged.




FIND OUT MORE

We believe in community-based ownership of the Stellar network. Feel free to ask
us questions about the lumen distribution program.

Find answers to frequently asked questions in our FAQ page.

Join the conversation at: slack.stellar.org.

And if you’re a developer interested in building applications on Stellar,
explore our documentation.

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MORE ARTICLES


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SDF JOINS THE BLOCKCHAIN ASSOCIATION

Candace Kelly

Feb 13, 2021

A LOOK BACK AND A LOOK FORWARD: OUR MOMENTUM FOR 2020

Denelle Dixon

Sep 20, 2021

SDF'S NEXT STEPS

Stellar Development Foundation

Nov 4, 2021

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