Early VestFee Redistribution

Early Vest Fee Distribution

Starting Sep 1st at 9 PM UTC, prior to the weekly inflation minting event, the adminDAO will send 373.075 $KWENTA to the rewards contract weekly for 20 weeks, these tokens along with inflation, will then be streamed each week as "rewards". Any new early vest fees will now be redistributed directly to our new contract.

Early Vest Distribution and Improved UX

  • Direct Distribution: Early Vest Rewards will no longer need to pass through intermediaries. They will now be sent directly to our staking contract.

  • Simplified User Interface: With this new method, users do not need to engage with a separate claim UI.

  • Variable APY: The Annual Percentage Yield (APY) for staking will not remain constant. It will alter every week, contingent on the amount vested in the preceding week. It's worth noting that each week is viewed as an epoch, with a new cycle commencing every Thursday when fresh rewards are minted.

This change hopes to enhance the user experience, making it more streamlined & passive.

How we did it:

With V2 staking and implementing early vest fee distribution, an intermediary contract stakingRewardsNotifier is introduced. This contract retains all early vest fees per epoch. Once stakingRewardsNotifier obtains weekly inflation, it distributes the minted inflation & collected early vest fees to the stakingRewards contract. Consequently, stakers earn additional tokens in the subsequent epoch linearly, termed as “rewards.”

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