HBARX Update

Dear HBARbarians,

Thank you for your continued support for HBARX and the Stader platform, we are grateful for the love and support of the Hedera community and honored to build for you.

As many of you may be aware , the Hedera Governance council has made some significant changes to protocol staking via their vote on Aug 4 (for more details click here). We wanted to make the community aware of how this will impact HBARX.

No change to smart contracts
There will be no change in the way HBARX smart contracts operate, the changes made are mostly on rewards and the contracts are modular enough to handle these changes without a new contract deployment.

New reward structure
This is where the major changes take place, since HBARX uses protocol staking at the backend , the rewards derived from protocol staking will fall in line with the governance proposal (from 6.5% to 2.5% or below). Additionally, this also reduces the amount of fee collected by the HBARX platform , which was one of the sources for the additional 10,000 HBAR in rewards provided over protocol staking. With the new reward structure laid out by the governance council and to ensure the long term viability of the HBARX platform , we will be reducing the extra emissions to 4,000 HBAR per day till the end of August.

No user action required
While rewards will be impacted there is no action required from HBARX holders , rewards will continue accruing at the new rate through the increase in the exchange rate of HBAR/HBARX. There will be no impact on liquidity pools or other integrations.

We are thankful to the entire HBAR community for supporting us on our journey on the Hedera network, we look forward to continuing building and growing HBARX with your help.

As always feel free to reach out through our socials if you have more questions.

-Team Stader

Twitter (X):https://twitter.com/stader_hbar
Official TG:https://t.me/StaderLabs_Hedera_Official