Threshold Network

1) Bonus Deadline Extension to June 1st

~1.89 billion T has been staked and over 90 PRE nodes are up and running! A great start, but newer stakers could use a little more time – so we suggest extending the deadline of the Migration & Stake Bonus, such that any staker who commences staking before June 1st will be eligible. The bonus, if validated by the snapshot & DAO vote, will now be 3% for eligible stakers – see qualifying criteria below. Time-based rewards (15% target APY) will start accruing to your stake from June 1st onwards. The first merkle distribution – after which your rewards will be withdrawable – is planned for mid-July. The updated bonus eligibility criteria:

• Begin staking and correctly configure their Proxy Re-Encryption operator node prior to June 1st (previously May 15th) .
• Reliably operate a PRE operator node until at least July 15th, and ideally through the launch of Threshold’s full applications. Temporary outages in PRE node operation due to known infrastructure failures (e.g. due to DigitalOcean or Infura downtime) will not automatically forfeit affected stakers’ bonuses. However, please take care to avoid extended non-availability.
• Remain fully staked until mid-July. If you unbond any part of your stake between June 1st and the first distribution (mid-July), you will automatically forfeit the entire bonus – all 3%. However, you would still accrue ongoing (time-based) rewards in proportion to your stake size and the duration that it remains staked.

The requirement to set a delegatee address has been removed from the original criteria in the forum proposal. However, it is still required to participate in the Threshold DAO.

2) Ongoing Stable Yield

From June 1st onwards, reward amounts will be based on the duration you are staked and reliably operating a PRE node. The target annual yield will be 15%. For example, a staker who starts staking on June 15th would see their stake grow by (15/365 * 15% = 0.62%) in the 15 days up until June 30th. The nominal inflation rate and monthly issuance figure will again be dependent on the average staking rate.

Note: The token holder DAO will vote through governor bravo to actually mint rewards in the follow weeks