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stSPON: Parasail Spheron Liquid Token

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

Tokenomics​

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

  • Minting of $stSPON tokens:

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

  • Burning of $stSPON tokens:

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

  • $stSPON/$SPON exchange rate:

    • 1 $stSPON will be backed by 1 $SPON under control.

  • Delegation and undelegation:

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

Guide for stake and unstake​

  • Deposit
  1. Visit Parasail staking page for Spheron: https://www.parasail.network/staking/Spheron
  2. Select Deposit tab and input the amount to stake
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  1. After the transaction complete, you can see the stSPON in your wallet. Might need manual import to the wallet, stSPON address: 0x662bd61b6cdCC25FcA7a8B32C92B9055c1634E75
  • Withdraw
  1. Visit Parasail staking page for Spheron: https://www.parasail.network/staking/Spheron
  2. Select the Withdraw tab and input the amount you want to withdraw
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  1. After the transaction completes, your stSPON tokens will be locked for 14 days.
  2. You can check the Pending Withdrawal section on the Withdraw tab to see your withdrawal status and unlock time.
  3. Once the 14-day lock period ends, you can claim your withdrawn SPON by clicking the Claim button next to the withdrawal amount.