sPRL and Voting Power
sPRL1 & sPRL2 = Voting Power
In order to participate in Parallel Protocol governance, token holders must stake their PRL tokens for sPRL. Users are receiving sPRL1 and/or sPRL2, which are transferable tokens depending on their preference.
sPRL1 & sPRL2 are represented in form of tokens and will be freely transferable, however in case of transfer, the accumulated Paraboost will be lost (more details about Paraboost here).
It is possible for sPRL1 and sPRL2 to initiate unstaking at any time, against a cooldown period of 1 epoch. However, they are able to bypass the vesting period by paying a penalty fee, starting at 50% and decreasing linearly over time. The penalty fee is taken from the amount of sPRL1 or sPRL2 being unstaked and is sent to the DAO Treasury.
sPRL1: Single PRL Staking
A basic single-sided staking for users who do not want to take an impermanent loss from tokens in liquidity pools. Each PRL staked as sPRL1 will count as x1 voting power, with a 1 epoch unstaking cooldown.
sPRL1 is currently deployed on:
Ethereum
Polygon PoS
Base
Sonic
sPRL2: Liquidity Pool Staking
A PRL/wETH 80/20 Balancer Pool Token staking for users who want to get the maximum voting power. The staked LP as sPRL2 is itself staked on Aura under the hood, with rewards in $BAL and $AURA automatically sent to the DAO treasury.
As these stakers help Parallel increase the PRL liquidity a x2.5 boost on the equivalent value of PRL tokens staked (in $) is applied. This boost ise applied for ParaBoost. sPRL2 holders are able to unstake their BPT tokens against a 1 epoch unstaking cooldown.
sPRL2 is currently deployed on:
Ethereum
Where to stake PRL?
You can increase your voting power by staking PRL here and obtain sPRL1 and/or sPRL2.
What next?
Now that you have sPRL, you can participate in the various governance proposals, published on the governance forum.
Be sure to stake your PRL before the snapshot vote starts, or your PRL will not be available for voting!
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