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StakedCelo

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What is StakedCelo?

StakedCelo — Celo's proprietary open source liquid staking protocol, developed by cLabs to encourage active user participation in the protocol. This allows anyone to wager on CELO, thereby supporting the network and earning Epoch Rewards, associated with wagering. At the same time, you will maintain the liquidity of these assets so that they can help to participate and interact with other applications in the ecosystem.

Contents:

StakedCelo - a profitable staking protocol

How does StackedCelo work?

Users enter CELOs into the protocol, which are then placed to support active participation and consensus on the Celo blockchain. As a receipt for the deposited CELO, users receive stCELO in return. These stCELOs roam freely on the chain (unlike locked staking CELOs) and can be exchanged at any time for an appropriate amount of CELOs per protocol.

The CELOs, received by the protocol, help to vote for groups of validators and earn Celo Epoch Rewards.Staked Celo

Rewards are accumulated in the protocol and distributed proportionally among all stCELO holders for their active participation and participation in the protocol. Rewards are reflected in the increase in stCELO value over time, meaning that the number of CELOs, supporting one stCELO, is constantly increasing with Epoch rewards.

These main features characterize StakedCelo:

1. stCELO complies with the ERC-20 standard and does not require rebasing.
2. A rebased version is available, called rstCELO (a wrapped version of stCELO). This will make StakedCelo easier to access for different types of users and thus further facilitate participation in the governance process, including timely and proactive block validation.
3. StakedCelo does not currently charge any fees. This means that 100% of the epoch rewards, earned by the base CELO, are distributed to stCELO holders.

StakedCelo can be upgraded with a 3 out of 5 multisig. Any multisig initiated upgrade requires a 7-day temporary lock wait before it takes effect, giving users enough time to cash out before changing the code if they so choose.

stCELO and rstCELO

stCELO — an ERC-20 compliant non-rebase token, designed to further encourage active user participation in the protocol, dApps, and the wider Celo ecosystem. Non-rebase means that the amount of tokens the user has in their wallet remains constant over time if that user takes no action. Therefore, the cost of one stCELO increases over time.

To provide maximum flexibility for developers, StakedCelo also provides a rebase token, called rstCELO, which covers stCELO. The main feature of rstCELO is that it is supported by a single CELO. Therefore, when deriving rstCELO from the StakedCelo protocol, one CELO must be received for each rstCELO.

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