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Staking on the Lamina1 Mainnet

For those unfamiliar, staking is a way for cryptocurrency holders to earn rewards by locking up their digital tokens in a blockchain network for a set period of time. It’s a key part of many blockchains that use “proof-of-stake” (PoS) validation, which helps ensure that all transactions are verified and secured without a bank or payment processor in the middle.

Staking helps ensure that only legitimate data and transactions are added to a blockchain, and can contribute to the overall security and efficiency of blockchain projects. The reason your crypto earns rewards while staked is because the blockchain literally “puts it to work” — securing network transactions and establishing which blocks are valid. In general, we hope staking will represent a powerful part of the emerging LAMINA1 economy, and plan to heavily incentivize community members who do so.

On the LAMINA1 platform, the rewards you will earn through staking fall under three categories:

  • Rewards L1 (RL1) Tokens, which are released gradually into your LAMINA1 wallet throughout the staking period you select (e.g. X RL1 tokens earned per day), and convert to liquid/tradeable L1 over time. On the LAMINA1 networkRL1 tokens will unlock at a rate of 10% per quarter. Users can come back to the LAMINA1 Hub to unwrap new rewards tokens daily into useable L1 that they can trade, stake or make purchases on the LAMINA1 platform.
  • STAKE Tokens, which are rewarded immediately after you stake and further determine the amount of rewards you are earning on the network. They do this by adding a rewards “multiplier” to the stake transaction, determined by the amount and length of that staking transaction. These tokens will accumulate quickly in your Wallet, but cannot be transferred between participants or converted to other currencies on the network.

In future updates to the LAMINA1 staking platform, participants will also earn VOTE Tokens for staking, which they can use to participate in L1 governance initiatives like OMMA/OMAC elections. Expect this feature to roll out 90 days after the L1 token listing.

In other words, every time you stake, you will earn rewards and voting power on the network.\ To begin staking on LAMINA1, log into https://lamina1.com and go to the Staking Tab, marked by a stack of coins icon at the top of the LAMINA1 Home Page.\ \ The left side of the Staking page details the assets you are working with that you can put to use through staking; including:

  • Daily Earning Rate: The amount of RL1 rewards tokens you are currently earning per day with your staked L1, alongside a COLLECT button that will allow you to unwrap/collect any unlocked rewards you are generating on the network.
  • Active Stakes: The amount of L1 you currently have locked up in staking, batched by completed staking date alongside a MANAGE button where you can pull out liquid L1 that has completed its Staking window.
  • Available to Stake: The amount of idle/unstaked L1 you can put to use by staking on the network, alongside a STAKE button that will allow you to do begin staking.

Note that every time you stake L1, you will earn RL1 rewards tokens that unlock back into usable L1 over time. You also earn STAKE tokens, which multiply your rewards on the network based on the amount and length of time you locked them up on the network.

Meanwhile, the right side of the Staking page provides information about network tokenomics at large, including:

  • The current Staking day, Quarter, and Period
  • The Issuance rate of that quarter — e.g. the total number of tokens being released into the network in a 90 day window — a rate that will be dynamically determined by the OMMA as the network unfolds and evolves.
  • Total Rewards Pool Allocations
  • A Metaverse Standard Time clock, which will give you an idea of when new rewards will unlock daily on the network.

Finally, at the bottom of the Governance page, we have included some additional info and guides community members may find useful when adjusting their strategies for earning, including:

  • Staked Supply: The percentage of L1 that are currently staked by LAMINA1 token holders and are actively generating rewards on the network, plus completed stakes that can be withdrawn.
  • Circulating Supply: The number of tokens on the Network that are currently usable as L1 and available to users.
  • Locked Supply: L1 tokens that are currently locked in smart contracts (e.g. RL1 and LL1) that are inaccessible to LAMINA1 users.
  • Total Supply: 1.5 billion L1

To begin staking, simply click the unlocked STAKE button three down from the top of the page. This will pull up an interactive modal that will help you set/determine the amount of tokens you’d like to stake and the time period for which you’d like to stake those tokens (up to 3650 days, or 10 years).

A handy Stake Calculator we built for you will tell you your estimated yield or APY based on your stake, as well as the staking power multiplier you’ll receive in STAKE tokens based on the transaction. The calculator will also let you know the Daily Rewards you’ll be generating on the network, and the relative staking power you’ll hold compared to other L1 token holders based on the transaction.

Using this tool, users should quickly discover that the more tokens you stake and longer you stake, the higher your rewards. Keep in mind that these are NOT guaranteed returns, they are estimates based on the current network parameters and how much other people have staked in the network. In this system, each time someone in the network stakes or withdraws, your actual rewards will change accordingly.

Once your first rewards start coming in and your initial staking periods are up, the two buttons above the Stake button (Collect and Manage) under “Available to Stake” will unlock and become accessible — allowing you to withdraw your completed stakes to trade, use, or re-stake on the network (Note: You get back 100% of what you put down); plus the RL1 rewards tokens you can collect and begin unwrapping.

For ease of use, the “Collect” button has a dual function, and will immediately unwrap any rewards tokens you have available into usable L1 so you don’t have to go back and unwrap in your wallet. While this button can only be used once per day, you can manually claim and unwrap your tokens as many times as you’d like.

Note that users can obtain rewards via the “Collect” button for free once per day to claim rewards and unlock any LL1/RL1 to cover the gas of unwrapping. Any additional unwraps made via the Wallet will have a small gas fee associated with them.

As rewards tokens begin to unlock daily on the network, we anticipate many LAMINA1 community members will return to this page daily to check in on their rewards, collect/unlock RL1/LL1 and re-stake new liquid tokens onto the network.

For assistance with staking, go to our dedicated #staking channel on the LAMINA1 Discord.