Unstaking
Last updated
Last updated
As of November 2023, 78% of all LEO is staked as LEO POWER (illiquid for 28 days). Users can unstake at any time through a "Power Down" process. Powering down initiates 4 events - 1 per week - for 4 weeks where 1/4th of the total LEO POWER a user has staked becomes liquid.
For example, a user with 10,000 LEO POWER could unstake some or all of that power. If they unstake 4,000 of it, then they will receive 1,000 LEO liquid in their wallet each week for 4 weeks. At the end of the 4 weeks, they would have 6,000 LEO POWER and 4,000 liquid LEO.
78% of all LEO is staked as LEO POWER (illiquid for 28 days). Users can unstake at any time through a "Power Down" process. Powering down initiates 4 events - 1 per week - for 4 weeks where 1/4th of the total LEO POWER a user has staked becomes liquid. For example, a user with 10,000 LEO POWER could unstake some or all of that power. If they unstake 4,000 of it, then they will receive 1,000 LEO liquid in their wallet each week for 4 weeks. At the end of the 4 weeks, they would have 6,000 LEO POWER and 4,000 liquid LEO.
The rest of the LEO in the circulating supply is either liquid or bridged to wLEO, bLEO or pLEO and available on the books in Automated Market Makers (AMMs) for traders to buy/sell LEO.
Unstaking is super easy:
1). Head to your INLEO Wallet
You can find your INLEO wallet by going to "Profile" in the left menu and then clicking "Wallet" just under your profile description.
2). Click the "Down Arrow" Icon to Open the Power Down Dialogue
3). Type the Amount to Power Down and then Click "Power Down"
4). Powering Down Takes 28 Days. You'll Receive The First Powerdown After 7 Days and Then the Next 3 Each 7 Days Afterwards
So in the above example, I power down 4,000 LEO and receive 1,000 LEO after 7 days and then 1,000 more each 7 days until the power down is completed.
Can I have multiple power downs?
Yes, just initiate a new power down by adding more to the existing one (if you're powering down 4,000 and want to increase it to 14,000, then do the full new amount including the previous amount).
NOTE: any change to the power down amount will reset the 28 day timer. Best practice is to allow the current power down (7 days) to elapse, and then immediately make the change afterwards.
Can I cancel a power down?
Yes, return to your wallet and hit the X icon.
Does it cost anything to power down / is it frowned upon?
Obviously it is your stake and your choice, you can power down at any time. There are 0 fees for doing so.
What do I do after powering down?
This is totally up to you. There are many utilities for liquid LEO along with being able to bridge it to wLEO, bLEO, pLEO and swap for any other EVM-compatible cryptocurrency.
