Skip to main content

stPEAQ: Parasail peaq Liquid Token

$stPEAQ is a liquid token representation of staked $PEAQ within the Parasail ecosystem. By staking their $PEAQ with Parasail, an equivalent amount of $stPEAQ is minted. These $stPEAQ tokens allow holders to participate in rebases, receive rewards, and incur slashing.

Tokenomics​

The tokenomics of $stPEAQ are designed to maintain a robust, self-healing economic environment, ensuring stability, incentivization, and growth of the network. The minting and burning of $stPEAQ during rewards distribution and slashing events will maintain a consistent 1-to-1 balance between $stPEAQ and $PEAQ.

  • Minting of $stPEAQ tokens:

    • An equivalent amount of $stPEAQ will be minted corresponding to the $PEAQ staked. Stakers will receive $stPEAQ tokens, which are automatically adjusted to reflect any rebases, representing their share of the total staked $PEAQ under management.

  • Burning of $stPEAQ tokens:

    • $stPEAQ will be burned at a 1:1 rate during withdrawal or slashing events. The $PEAQ share claim of other stakers will be adjusted, reflected by a decrease in their $stPEAQ holdings during these burning events.

  • $stPEAQ/$PEAQ exchange rate:

    • 1 $stPEAQ will be backed by 1 $PEAQ under control.

  • Delegation and undelegation:

    • When there is sufficient $PEAQ in the pool, it will be delegated into peaq DPoS system to earn yield. The yield is distributed to the pool and rebase $stPEAQ. When the liquidity is short, $PEAQ will be undelegated from peaq to fulfill the withdraw demand.

Guide for stake and unstake​

  • Deposit
  1. Visit Parasail staking page for peaq: https://www.parasail.network/staking/peaq
  2. Select Deposit tab and input the amount to stake
image
  1. After the transaction complete, you can see the stPEAQ in your wallet. Might need manual import to the wallet, stPEAQ address: 0xe36e7Ac6e7a93D3C40f287f3857b01d6e46c565A
  • Withdraw
  1. Visit Parasail staking page for peaq: https://www.parasail.network/staking/peaq
  2. Select Withdraw tab and input the amount to withdraw
image
  1. After the transaction complete. stPEAQ will be burnt and PEAQ will be withdrawn to your wallet.

Note: The deposited $PEAQ will be delegated to peaq DPoS system so when there are lots of withdrawals, it's possible that pool doesn't have enough $PEAQ to be withdrawn. You will need to wait for free liquidity of $PEAQ, coming from new deposits, DPoS rewards, or undelegation (up to 7 days).