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Set up Tally's staking system: prerequisites, reward sources, and considerations for successful deployment.
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Set up Tally's staking system: prerequisites, reward sources, and considerations for successful deployment.
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To implement Tally's staking system, you'll need the following:
Compatible tokens:
A standard ERC20 token to use as the staking token. Typically, the staking token is the native token of the protocol, like UNI.
One or more ERC20 tokens to distribute as rewards. e.g. WETH or the native token of the protocol for inflationary rewards.
Note: Rebasing tokens or non-standard ERC20 tokens won't work.
Reward source: Rewards come from protocol revenue, treasury funds, or minting new tokens.
Optionally, staking supports additional features:
Governance compatibility - for staking token that are also governance tokens. In other words, tokens that implement ERC20Votes
. Staking passes through voting power to the underlying governance token. No changes are needed on the governance system.
Staking reward criteria can use an . Calculators increase or decrease rewards based on any criteria. Calculators can use offchain criteria with an oracle.
Many protocols launch staking with their token launch. Tally can help with a flow that combines the two events. Combining them offers several benefits:
Immediate utility for new tokens
Higher staking conversion rates
Reduced initial selling pressure
Clear value proposition for tokenholders
Your implementation approach depends on your protocol's stage and needs:
Implement staking alongside your token launch
Design with value accrual in mind from day one
Create an economic loop between usage, fees, and rewards
Add staking to create utility for existing tokens
Use protocol revenue or token inflation to reward stakers
Consider phasing in rewards over time to test and adjust parameters
For the fastest and most reliable implementation:
Tell Tally about your staking and reward tokens
Tally will guide you through the deployment process
Get a fully-configured staking user interface on Tally
To deploy a test or self-serve staking contract
Learn more about how Tally helped Obol combine token launch with staking launch .
Contact Tally's team at
See the