Genesis Staking Coming Soon

DIA is preparing for the Lumina mainnet launch, planned for Q1 2025. The launch will introduce a staking mechanism that will play a crucial role in strengthening the network’s resilience through cryptoeconomic security. Staking on Lumina will feature slashing, ensuring security and decentralization in a trustless manner, as detailed in the Lasernet deep dive.

While the main staking functionality will launch on Lasernet early next year, we are excited to introduce the DIA “Genesis” staking program. Genesis staking is designed to reward early adopters of the Lasernet staking mechanisms and long-term holders as well as incentivize liquidity migration to the new Lasernet chain.

Genesis staking not only grants DIA holders exclusive access to rewards but also positions them at the forefront of DIA’s transformative journey with Lumina, making them key players in this groundbreaking phase for DIA and the oracle space.

Genesis staking will take place later this year, prior to the network’s mainnet launch. Here’s a breakdown of how it will work:

• Holders can earn up to 30% APY by committing their DIA to a staking contract on Ethereum Mainnet, depending on allocation details, timing as well as potentially available open staking tranches.
• Staking rewards will be limited and accessible on a first-come, first-serve basis via an interface on the DIA App.
• Staked tokens will be locked for a fixed period of 6 months, after which both the principle and the rewards will be claimable.
• Rewards will be claimable on the DIA Lasernet, while the principle stake will be redeemable from the Genesis staking contract on Ethereum mainnet.
• Genesis staking is set to launch before the end of this year. More details on the timeline will be communicated via DIA’s public channels.

Once Lasernet is live, node operators will be onboarded and the network will start its operations in a controlled, limited scope with trusted parties before transitioning into a fully permissionless network. More about the decentralization roadmap.

During this period, holders can continue staking to secure the network and earn rewards. A dedicated bridge will enable smooth migration of liquidity to the DIA Lasernet to ensure a frictionless user experience. More details about the permissioned mainnet and the road to full decentralization will be shared further down the line.

To enable Genesis staking rewards, DIA tokens need to be made available. Thus, the DIA team is proposing a vote to use the funds from the treasury unlock from 2023, in line with last year’s decision.

You can read all the details and participate by visiting the DIA forum and looking up GDP#016. The vote opens today at 13:00 UTC and will remain open for 48 hours.