Last week, we announced in our latest update, Sitrep #029, that our legacy staking contract would be reducing it’s token emissions.
We also announced the opening of our super-wicked Liquidity Mining program, which begins this week on March 1, 2023.
However, we didn’t take into account those stakers who are already in our legacy staking program, and who wanted to be able to remove their BUMP so they could participate in earning even more rewards for taking part in the LM program.
So we’ve come up with an interesting solution.
As of 28th February, 2023, existing staking positions will have a temporary “eject” button which will allow users to exit early, freeing up staked BUMP tokens so they can be redeployed into our Liquidity Mining program.
This eject button won’t be around long, and you’ll have until 12pm UTC on 15th March to exit your staking positions. After this time, the eject button will disappear like the Predator with that cool invisibility cloak on.
If you want to eject, simply visit the Bumper dApp, connect your wallet and view your staking positions. You’ll find the eject button next to any which are eligible for exit.
Eject will work whether you’re on a fixed or flexible staking position, and there won’t be the normal 10-day cool-down period for those who chose flexible staking.
We also won’t be implementing the reduction in legacy staking rewards until after the Eject button has disappeared, so for now, stakers will continue to earn rewards at the same rate.
Our intention is to make sure rewards for our community are purposeful, and ultimately benefit the protocol, and by extension those loyal supporters who've been with us throughout.
And right now, what really benefits the protocol is users providing liquidity to the DEX to help make frictionless swaps easier. This is why we started the Liquidity Mining program, and committed such a large stash of rewards to it (over 1.8M BUMP will be distributed over the coming 13 weeks - That’s 20,000 tokens per day).
We hope that our supporters will realise the benefit of this, not just to them, but to the protocol, and the community as a whole, and taking part is a major step on our road to having a fully decentralised, novel and price-efficient risk market with a really solid utility for BUMP token holders.
If you have particular questions about this, please do jump into our Discord and join in the conversation.
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