Token and LP Staking closes on Polkacipher’s Truss Platform

4 min readJan 25, 2022
Truss Platform: PolkaCipher Unstaking Mechanics

Dear Ciphers, after a brief period of 180 days, $CPHR staking and LP pool will expire and all the users can now unstake their tokens and claim pending rewards. If any user fails to unstake their tokens before expiry, they will automatically get their tokens with pending rewards back to their wallets. Unstaking and reward claims for the $CPHR LP Staking and Tokens Staking program are now due on the 25th of January 2022 and the unstaking period will last till 27th January, 12 PM UTC.

Liquidity providers who participated in the LP Staking and Tokens Staking program on PolkaCipher’s Truss Platform on the 26th of July 2021 can now unstake their LP tokens and claim all their staking rewards.

How successful was the staking program?

With the participation of Ciphers, your favourite privacy-focused NFT ecosystem was able to accumulate close to 29.5M tokens and 9000 $CPHR LP tokens in the staking program which lasted for six months. To incentivise the LPs, a total of 700,000 $CPHR/month was set aside as rewards. In turn, Polkacipher was able to give out 16666 tokens per day in Token staking and 6666 CPHR per day for LP staking. The highlight for the staking program and the mark of its success was that liquidity was ensured, out of the total number of tokens in circulation, 60% of the tokens were staked and only 40% of tokens were available to trade on exchanges.

Now, with unstaking due on the 25th of January, 2022, Ciphers can unstake and enjoy their rewards.

Steps to unstake CPHR Tokens:

  1. Connect your wallet on the Truss staking dashboard via Metamask: Here Ensure you switch your network to “Binance Smart Chain”.
  2. Click on “Claim” to earn all the staking rewards from the staking program.
  3. Approve the contract to receive the rewards in your wallet directly.

Note: Please use same process for CPHR LP Tokens

To get the staked tokens in wallet:
1. Enter the entire number of tokens shown in “Staked” in the box.
Note: Please use only 1 digit after the decimal for faster tx (eg: 5621.2)
2. Click “Unstake”
3. Approve the contract

To get unstake Pancakeswap LP tokens:
1. Enter the entire number of LP tokens shown in “Staked” in the box.
Note: Please use only 1 digit after the decimal for faster tx (eg: 5621.2)
2. Click “Unstake”
3. Approve the contract
4. Please visit Pancakeswap exchange -> Click on Liquidity section.
5. Remove CPHR/WBNB Liquidity to disconnect from staking program.

Voila!! You have successfully unstaked your tokens!

Note: The unstaking period will last till 27th January, 12 PM UTC.

What next after staking?

We have a lot planned in the coming weeks as we will be coming up with another staking program from the second week of February. This is to enable CPHR stakers to continue earning additional rewards through staking on our new and easy to use Truss staking dashboard.

New Staking Dashboard on Truss Platform

Going forward Truss Platform and Investors Dashboard will be merged in one single dashboard where users can perform multitude of actions to earn $CPHR as well as participate in new programs that should bring you closer to be among select few to test our unique NFT focused privacy tech.

In coming days, we will unveil our flagship platform, that will allow users to interact with their NFTs irrespective of the chain they might be connected to. A true cross-chain platform with support for 10 EVM chains at start and a newer architecture for our NFT bridge that would allow EVM as well as non-EVM chains to participate in ecosystem.

Expect more details in the upcoming staking program and our new roadmap detailing several developmental milestones we have etched out to start executing. This will cover updates on new features that will be introduced on NFTzie that will be unveiled by the end of the month.

We are extremely focused on enabling the seamless of NFTs to adopt a cross-chain method while providing essential privacy features which seems to be a critical missing piece for the sector.

Any questions, ask Admins in our Telegram Community.
Admins or team will never send you a DM even if you request one.

About PolkaCipher

PolkaCipher is a next-level privacy-preserving oracle network on the Polkadot Blockchain focused on bringing the use case of private NFTs to off-chain businesses and being a bridge for seamless integration to on-chain Defi apps.

PolkaCipher’s unique offerings help push the use-case of the NFTs in real-world scenarios while still being connected to a cross-chain network that is fair and accurate. PolkaCipher intends to achieve business goals by helping users transact privately and securely using NFTs as a mode of access to different decentralized apps (Dapps) and real-world business rewards.

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Cross Chain Privacy-Preserving Oracle Network Built on Polkadot Network