Over the past few months we released three Beta phases for our staking platform. But now, it’s time to open it up for public access.
There are a few different ways that users can access the staking platform depending on where you’re at, so read on to find out how to make the most of the platform and the rewards on offer.
New to DOVU?
If you’re new to DOVU, you will have to buy DOV and bridge it over to Hedera. You can only stake DOV if it’s on Hedera.
You may find that acquiring DOV takes a bit of time, but our how-to YouTube playlist here has videos that cover every part of the process, and includes all the videos linked below:
- Buy DOV on PancakeSwap
- Buy DOV on Uniswap
- Bridge DOV from BSC to Ethereum
- Bridge DOV from Ethereum to Hedera
If you have any questions during the process we recommend joining our Discord where you will have access to tech, questions and staking channels.
Hedera is a fully open source, proof-of stake, public network and governing body. It’s fast, energy-efficient (carbon negative) and secure.
If you’re new to Hedera, check out these resources to find out more about why it’s our choice of platform:
How to stake
So, you have DOV and you’ve bridged it over to Hedera. What now? There are a couple of different avenues that you can go down depending on your wallet and when you bridged.
For any users who have DOV but did not bridge in time for the Earth Day snapshot and don’t have a MetaMask wallet, accessing staking is simple:
- Sign into your marketplace account here. If you don’t have an account, then create a new one.
- Once you’ve signed in, navigate to the drop down next to your avatar in the top right.
- Click on staking.
- Start earning your rewards!
For users that do have a MetaMask wallet or did bridge in time for the Earth Day snapshot, it’s time for you to activate blood mode.
Operation Blood Moon
Blood Moon and open beta staking: what’s the link?
On Earth Day this year, we took a snapshot of every wallet with bridged HTS DOV. Why? We have a large DOV treasury and Operation Blood Moon is a way for us to distribute 10 million DOV to those wallets in the snapshot. It’s a way for us to reward the early adopters through our staking platform.
Find out more about Operation Blood Moon and where it fits into our vision towards becoming a DAO here.
For now, users must activate blood mode to claim DOV. Continue reading to find out how to claim your tokens.
Earth Day snapshot users
Users with wallets that were included in the HTS snapshot will receive an email with a link to the staking platform.
Simply click through the link in the email, log into your account and claim your tokens.
MetaMask users can claim DOV on Hedera by connecting to our Carbon Calculator. However, you must have made transactions on the Ethereum network to claim tokens. A marketplace account will be automatically created for you when you claim through the Calculator.
We’ve heard your feedback and, while this might seem like a lot of steps, we’ve done it this way so that your claimed DOV tokens will already be on Hedera. This means no gas costs and no requirement for you to bridge.
Psst… no other DAO distribution on a layer one network has ever done that before.
The rewards are multiplying
Once you’ve made it to the staking platform, you’ll get access to lots of multiplier campaigns – these are rewards that you earn in addition to the base rate (APY).
We currently have four additional multipliers in place plus the APY, but these campaigns will have conditions. For example, we can reward users for holding other tokens or NFTs on Hedera that aren’t DOV, or reward them for holding staked DOV for a certain period of time.
The possibilities are (almost) endless and this will incentivise users to hold DOV and, in return, we can reward you. Is it one of the most powerful staking incentive systems that exists today? We’ll let you decide.
So let’s break down the current multipliers:
This activates after 30 days. Once a user has held DOV in their staking account for 30 days, they’ll receive the multiplier. This increases the longer you hold the position, and maxes out after 6 months (180 days).
If a user buys a certain amount of carbon stock from our marketplace they will get access to a % boost, incentivising ongoing purchases of carbon.
Lifetime Staking Bonus
Users who have signed up for a marketplace account before 16 May – Blood Moon – will have access to this boost. But there are conditions to this. If a user removes DOV tokens from their staked wallet to another account or for any other purpose, they will lose access to that bonus permanently.
So, if we reduce the base rate (APY) to 5%, but the lifetime bonus is set to 1.2x (or 20%), if a user moved any DOV, they would lose this 1.2x boost.
We do have the ability to reactivate this bonus at any time for anyone who has lost it but reactivation will be done at our discretion.
This is one of the most exciting multipliers. This provides us with the capability to partner with any token or NFT project on the Hedera network (within the staking platform). For example, if someone holds a certain amount of HTS, and we apply the multiplier to anyone that holds x number of HTS, they will get a boost.
The best part? We can run multiple campaigns at the same time, which means if a user holds two tokens/NFTs within the campaign, they will get a bonus for both.
This multiplier gives us the ability to support and work with people and artists building on Hedera.
Got questions or feedback?
Jump into our staking channel on Discord and get involved. We welcome all comments, questions and queries there.
Additionally, we also have a feedback & ideas channel where we welcome suggestions or comments related to usability, platform, workflow. We’ll take note of all feedback and will be working to constantly improve the platform and user experience.
New features will continue to be added to the platform and we have lots of multiplier campaigns planned for the coming months that we hope you’ll get involved in. But for now, the aim is to have a clean and simple flow to bridge new users, from Ethereum, into our ecosystem.
And last but not least, we want to thank you for supporting us and all that we do. As we continue to evolve, the DOVU community is at the forefront of that.
Keep up with DOVU
Be the first in the know: https://discord.com/invite/dovu