Updates — $DBK staking and distribution
Hello people! Another week of ongoing work, grind and hustle for everyone in Dbook.
Unfortunately, we had to delay the launch of our operations due to some discovered bugs which will prevent the operations from running smoothly. However, over the course of the last few weeks, a few ideas had sprung up as well, and this delay might allow us to work on some of the new ideas to make the overall product better from the beginning.
We also had our first official vote session on Snapshot.org over the past weekend. That was an exciting milestone, even though not mentioned anywhere, as it shows everyone the importance of voting in Dbook Platform. We hope more $DBK holders will participate in the vote sessions in the future.
Based on the conclusion of the vote, we’ve decided to put up the remaining unsold $DBK as rewards for $DBK staking.
With our audit completed with Solidity Finance last week, we’ll be looking to deploy our staking smart contract and integrating them on DbookDAO.com. More information will be announced in our community group.
Staking $DBK on DbookDAO.com
Everyone should know by now, our in-house staking protocol lasts 7 days. This means stakers will need to stake at the beginning of the pool and unstake at the end to claim for rewards and collect the staked $DBK. This will be a weekly affair.
With the delay of the launch of operations, and bearing in mind that we’ll require some time to start getting a decent revenue in order to share it with the community, we will be running $DBK farms on DbookDAO.com for the next 6 months at least.
$DBK holders can use this period to stake and ‘farm’ more $DBK in the meantime and reap better rewards in the near future when profit distribution begins.
Current Staking Plans
Bearing in mind that a staking period will last 7 days, we will be able to hold 4 different staking rounds in a month.
We will be holding 1 whitelisted staking pool cycle, and 3 staking pool cycles for all. A whitelisted staking pool will be a special pool for contributors. We will be having a Gleam page soon with tasks for all community members to contribute to. All participants who successfully complete the required task will qualify for the shortlist staking.
The other 3 staking pool cycles will be open for all $DBK holders.
Unsold $DBK allocation
A total of 29,215 $DBK will be distributed. 20% will be distributed to all voters who participated in the vote session last weekend via the whitelisted pool. The remaining 80% will be distributed to all $DBK holders via staking.
The whitelisted pool will kick off the staking for DbookDAO.com. And the public pool will be available the week after.
We will announce the start of staking on our community group at a later date!
Rocket Bunny Partnership
Some in the community might feel that the weekly staking/unstaking activities might be too much for them, with their daily jobs occupying most of their time.
We will continue our partnership with Rocket Bunny for the next few months, as Rocket Bunny will be able to provide a longer-term staking solution. The rewards will be lesser as compared to weekly staking on DbookDAO.com, but it’ll be another option for those who won’t be able to follow the weekly staking schedules.