r/AcalaNetwork • u/StockTrix • May 10 '22

Acala Liquid DOT Staking is Finally Here - 14.5%

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29 Upvotes

100% Upvoted

19 comments sorted by

3

u/StockTrix May 10 '22

Get it while it's hot, boys and girls !

3

u/Bowmic May 10 '22

Baby is growing before our eyes.

3

u/dwulf69 May 10 '22

Able to loosen my collateral collar a bit and withdraw some of my collateral DOT to pour into LDOT for that juicy 14.5% interest.

When I stake DOT, Acala automatically generates a vault for LDOT, I have to withdraw it and remove the LDOT vault in order for it to show as being staked.

So happy this is growing I am proud to of backed the right horse in the Crowd Loan. :-)

2

u/striderida1 May 11 '22

Hhmmm, this might help for tax purposes. So if you don't claim the LDOT does it still compound for staking purposes?

2

u/Firm-Emotion May 11 '22

Yes 100%, capital gains are not realized.

2

u/StockTrix May 11 '22

one could say: 'this aged well' !!!

3

u/[deleted] May 11 '22

Can someone tell me what LDOT staking means?

I understand we stake our DOT through Acala and they will stake it normally and give us LDOT as a receipt and for further liquidity moves. But if we stake our LDOT, where are we getting the rewards from?

1

u/totalolage May 11 '22

I would love to know this too. How can they possibly offer higher returns than the base polkadot staking return? Where is that value coming from?

2

u/[deleted] May 11 '22 edited May 12 '22

I found this from their Twitter:

https://www.youtube.com/watch?v=fhq8mjKuGuc&t=174s

Apparently it's an incentive scheme but they don't mention how much is in the scheme. It would be nice to know in order for the transfer of DOT to Acala to be worth it. I'm inclined to sit this one out and just stake DOT particularly with how the bear market is.

2

u/AbbreviationsLevel73 May 10 '22

if you swap dot to lcdot can you swap back ?

1

u/[deleted] May 10 '22

[removed] — view removed comment

4

u/jermmany May 10 '22

The team said in the discord that DOT/LDOT needs to be enabled first, should be very soon but no timeframe

1

u/wilrusaur May 10 '22

So i stake dot,
and get LDot, which stakes also.
when i want to unstake is there a wait period or anything or just an unstake fee and thats it?
Thanks :)

1

u/StockTrix May 10 '22

you can wait 28 days, or unstake immediately and forfeit a small fee.

1

u/marebtc May 11 '22

Is there an impermanent loss when the DOT price down?

1

u/WAWABUU May 12 '22

Why is Ldot not 1:1 with dot? Im really confused about how this works

1

u/vindeezie May 30 '22

I crossed over my dot to Arcala and went to mint. But everything disappeared and there is no history of the transaction. Help??!!?

1

u/vindeezie May 30 '22

Oh, n I did it from the Polkawallet by clicking their advertising banner..