yPRISMA

Yearn: The new YBS staking system yPRISMA will be launched, and users need to migrate their assets to continue earning staking rewards

ChainCatcher news, Yearn announced that it will launch the new YBS staking system for yPRISMA on Thursday (May 9) at 00:00 UTC according to the YIP-77 proposal. All yPRISMA stakers need to migrate their assets to continue earning staking rewards. The best migration period is within one week after the new system goes live. Users can choose to deposit into the new yPRISMA Yearn gun pool yvyPRISMA, or directly stake into the new Yearn Boosted Staker (YBS).It is reported that the yvyPRISMA option is suitable for users who want to increase their yPRISMA positions and are more concerned about Gas costs. The YBS direct staking option is suitable for users who want to earn stablecoin rewards, do not mind additional Gas costs, and expect to become long-term participants in the ecosystem.In addition, YBS adopts an innovative mechanism to incentivize long-term stakers by providing them with higher rewards. Rewards will be distributed in the form of Yearn gun pool wrapped stablecoin yvmkUSD-A, which can be claimed at the beginning of the week after staking for a full week.To ensure safety, the reward contract will ignore the staking amount during the first week of staking. Therefore, no users will be eligible to receive the 1x boost before May 23 after the new system goes live. Users who complete the migration within the migration week (before May 16, 00:00 UTC) can claim the accumulated double rewards on that day.Users who migrate after the migration period will miss out on a week of double rewards. The original yPRISMA staking contract will be deprecated this Thursday.
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