The deBridge Official protocol is transitioning towards community ownership, and its deBridge DAO Staking mechanism is central to this process. This guide explains How to Stake on deBridge, focusing on the technical implementation of veDBR.
Core Concept: Vote-Escrowed DBR (veDBR)
A look at veDBR Explained shows it's a vote-escrow model, similar to Curve's veCRV. It's designed to reward long-term commitment.
Staking: Users lock their native DBR tokens in a staking contract.
Lock Duration: Users choose a lock-up period. The longer the lock, the more veDBR voting power they receive for the same amount of DBR.
Voting Power: veDBR is the non-transferable token that represents a user's weight in deBridge Governance votes.
Decay: The veDBR balance decays linearly over the lock period, encouraging users to extend their locks to maintain influence.
Step-by-Step Staking Process
Acquire DBR: Obtain the DBR token through official channels.
Navigate to Staking Portal: Go to the deBridge app where staking is enabled.
Approve & Stake: First, approve the staking contract to spend your DBR. Then, call the stake() function, passing two parameters: the amount of DBR and the desired lock duration (as a timestamp).
Receive veDBR: The contract will calculate and assign your corresponding veDBR balance.
You are now eligible to participate in governance and earn a share of the protocol's revenue, distributed as DBR Staking Rewards.
For the full smart contract specifications and formulas, please refer to https://sites.google.com/verified-web3-portal.com/debridge/.
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