TL;DR
- The Staking Gala will launch on 2nd July 12:00 PM UTC and run for a period of 7 days, until 9th July 2:00 PM UTC. Participants will compete for a rewards pool of $20,000.
- Staking Gala launch: 2nd July, 12:00 PM UTC End date: 9th July, 2:00 PM UTC. Competition rewards pool: $20,000. Users holding <500 ATOM should register at register.pstake.finance to receive 500 test ATOM. For those holding >500 ATOM, their assets will be replicated through a snapshot on 30th June, 12:00 PM UTC.
- After receiving test tokens, users can participate in the Gala at gala.pstake.finance.
- New Cosmos private testnet chain and Ethereum token contract instances will be deployed for the Staking Gala.
- Note: Assets being used on alpha release alpha.pstake.finance are not compatible with the Staking Gala.
- Users are ranked on the basis of activity on app and %-rewards earned on their starting test ATOM balances. User activity on the app is scored through action points which are earned by performing supported actions.
- Actions supported on the app include: Deposit/Wrap, Withdraw/Unwrap, Stake, Unstake, Redeem, Claim Rewards
- Fees introduced in Staking Gala:
- Minting Fee: 0.35% (charges for minting pATOM)
- Service Fee: 5.0% (charges for earning staking rewards)