Upcoming Staking Contract Upgrades to Enhance User Experience with New Functionalities

• Week-long migration scheduled to begin on May 11, 04:45 UTC
• Migration will automatically disable all staking activities
• NO ACTIONS REQUIRED FROM DELEGATORS, REWARDS TO BE DISBURSED RETROACTIVELY
• Phase 1.1 to offer exciting new features such as swapping of delegators’ wallets, & functional enhancements

On May 11, Zilliqa will undergo a mainnet upgrade to v. 8.0.0. Following the upgrade, our staking contract will transition to phase 1.1 [as proposed in Zilliqa Improvement Proposal #19]. As per the planned changes:

1. Transferring stakes from one account to another account, without penalty will be possible. This feature can open up new possibilities such as smart contract wallets supporting staking
2. Staking parameters will be adjusted following the block time reduction and reward adjustment in mainnet v. 8.0.. This adjustment is to calibrate the staking rewards to around the same level as phase 1 staking
3. Functional fixes will address the contract state bloating issue
4. Interface changes for reward transition will ensure compatibility with Scilla v. 0.10.0

PLEASE NOTE:

1. All staking activities will be on halt during the migration period which will last for 1 week. Delegate stakes, withdrawing staking rewards, withdrawing stakes, etc. will not be possible.
2. Delegators don’t need to take any actions ahead of the migration.
3. Rewards will be retroactively awarded post-migration.
4. Zillion staking portal will support Staking phase 1.1. We are coordinating with other wallet providers to support phase 1.1
5. There will be no change to the final minting block number for $gZIL.

The following parameters will change:

Note: We may further calibrate the above parameters upon observation of Mainnet v. 8.0.0

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