Today we are announcing several important updates that are of interest to current and future stakers of CHR tokens. Read on for all the details:
Changes to Base APR
As of January 1st 2025, staking base APR will be adjusted to 3% across all networks.
CHR has a maximum supply of ~978M, meaning there’s a fixed number of tokens that can exist. As a result, the amount of CHR that can be distributed as staking rewards is also finite. Chromia plans to continue growing and supporting dapps for a long time, and our staking system needs to be adjusted over time to help achieve our goals.
While yield reduction might seem like a downside, it also brings several benefits:
- Staking rewards become more sustainable.
- Holders benefit from fewer CHR entering the market as staking rewards.
- Stakers will continue to earn a share of the fees collected by the provider they delegate to. As the network grows, this supplementary amount will become more significant.
- The maturation of the Chromia ecosystem will bring more ways to reward stakers beyond rewarding them with CHR tokens.
Incentivizing Migration to the Chromia Network
Chromia will be taking a number of steps to increase adoption of Native CHR on mainnet. These efforts include the phasing in enforcement of provider staking as well as incentivizing stakers to migrate their CHR tokens from Ethereum and Binance Chain to Chromia Network.
During the initial stages of mainnet, providers were given a grace period to provide their own stake. By March 1st 2025, all providers will be required to meet the following obligations:
System providers must have a combined self + delegated stake of 600,000 CHR, with a minimum self stake of 60,000 CHR.
Node providers must have a combined self + delegated stake of 300,000 CHR, with a minimum self stake of 30,000 CHR.
Providers must use Native CHR to meet their self-staking obligations.
Over time, Native CHR will become the focal point of user and provider staking, governance, and the entire mainnet ecosystem. The steps outlined in this article are important elements of this larger transition.
The First ‘Native CHR Staker’ Airdrop is Coming Soon…
We are finalizing the details of an ecosystem airdrop for Native CHR stakers, with the snapshot planned for mid-January.
This airdrop will only be received by Native CHR stakers, meaning that users staking CHR on Ethereum or Binance Chain will not be eligible.
As the ecosystem develops in 2025, there will be additional opportunities for airdrops, promotions, and other incentives. Some will be open to all stakers, while others will be limited to Native CHR stakers.
The only way to ensure you’re eligible for every opportunity is to stake directly on Chromia Mainnet. Keep an eye out for more details!
Streamlining the Transition
In the weeks and months ahead, we are expecting an increasing number of users to migrate their CHR tokens from EVM to Chromia mainnet. To facilitate this, we are taking the following steps:
- Last week, MEXC announced that Native CHR and Chromia’s FT4 token standard has been integrated into their exchange. Our team is actively working towards other CEX integrations.
- Until the end of February 2025, stakers will continue earning rewards during the 14 day withdrawal waiting period. This ensures that EVM stakers can receive rewards while they are waiting to withdraw and bridge their CHR to Chromia.
- Tomorrow, we will be releasing a follow up article and FAQ that gives more information about Native CHR and the migration process.
An Exciting New Chapter
As we move into 2025, the transition to Chromia Mainnet staking marks an exciting new chapter for our ecosystem and its participants. With airdrops, incentives, and new opportunities on the horizon, now is the time to align with the future of Chromia. Stay tuned for more updates and resources to help you make the most of this transition and be part of what’s next!
About Chromia
Chromia is a Layer-1 relational blockchain platform that uses a modular framework to empower users and developers with dedicated dapp chains, customizable fee structures, and enhanced digital assets. By fundamentally changing how information is structured on the blockchain, Chromia provides natively queryable data indexed in real-time, challenging the status quo to deliver innovations that will streamline the end-user experience and facilitate new Web3 business models.
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