❓LAIR FAQ
Staking
What is Lair?
Lair is a liquid staking derivative service that allows users to stake their KAIA to accrue staking rewards without locking their assets.
What is liquid staking?
Staking is an action of delegating one’s voting power on Kaia network to a Governance Council member. A GC operates validator nodes and vote on governance proposals on behalf of the stakers and the network. Users who stake their KAIA tokens to a GC receives staking rewards in return. This process normally locks a staker’s token in contract, making it illiquid. Liquid staking solves this liquidity problem by issuing a token representing the staker’s share in the staking contract. Liquid staking token can be used in DeFi ecosystem for various financial activities such as lending, borrowing, and swapping for another token.
What is stKAIA?
stKAIA an yield bearing token given to users who stake their KAIA with Lair. Its value against KAIA increases over time by just holding it. It can ben used throughout the Kaia DeFi ecosystem for more yields and opportunities.
Why should I stake KAIA with Lair?
Lair offers the best KAIA staking APY and risk management by allowing users to delegate to decentralized Governance Council members. Staking with Lair has 3 major advantages over staking with single GC.
Higher staking APY - Kaia systematically reduces staking rewards distributed to a GC as its delegation amount increases in order to disincentivize centralization. Lair solves this problem by spreading the delegations over a decentralized set of GC members.
Lower risk - There’s no penalty for slashing in Kaia. But an inactive GC cannot receive staking rewards while it’s inactive, meaning the users who staked their assets to the GC lose their rewards as well. By distributing stakes to decentralized set of GCs, such risk is mitigated.
DeFi use - Lair is working closely with many Kaia ecosystem partners to utilize stKAIA as the base asset in the ecosystem. Users shouldn’t have to miss out on the DeFi opportunity because of staking.
How can I trust Lair?
Lair is built by the Bughole team that has a track record of securing the Finschia network as the #1 validator.
Lair has been audited by Trust Security, the audit partner of Optimism, Olympus Dao, zk Sync, and the graph.
Lair is a non-custodial staking service. No one can control your staked KAIA without returning stKAIA.
What is stKAIA APY?
stKAIA APY is the staking rewards APY you receive for staking KAIA. stKAIA is a yield-bearing token, which means its value against KAIA automatically increases over time. You will receive more KAIA after unstaking compared when you staked first.
What is exchange rate?
Exchange rate is the swap ratio between stKAIA and KAIA token. The amount of KAIA required to get 1 stKAIA will keep on increasing over time.
What is TVL?
TVL is the total amount of KAIA tokens staked with Lair by all users.
What fee is applied by Lair?
There’s a 10% protocol fee applied to the staking rewards you receive from staking. There is NO unstaking fee. 50% of the protocol fee will be reserved for the community re-investment such as Lair governance token buyback.
What is Lair Farming?
Lair Farming is about giving credits to the loyal Lair users. Lair users who stake KAIA with Lair will receive Acorn points according to the time and amount they stake with Lair. Acorn points are distributed once a day to those who have staked with Lair and referred Lair to their friends.
How can I unstake stKAIA?
Users can unstake stKAIA to receive their original KAIA amount plus staking rewards at any time. Go to Unstake page to start unstaking.
What are the risks of Lair?
Smart contract security
There is an inherent risk that Liar could contain a smart contract vulnerability or bug. The Lair code is open-sourced, audited. To mitigate smart contract risks, all of the core Lido contracts are audited. Lair smart contract code and audit reports can be found on our Github.
GC misbehavior risk
Misbehaving GC cannot receive staking rewards. To minimize this risk, Lair stakes across multiple professional and reputable node operators.
stKAIA price risk
stKAIA price against KAIA can become temporarily low on exchanges. However, the peg is always kept stable when unstaking via Lair’s native unstaking route. So it will always be pegged to the right exchange rate.
How do I see stKAIA on my wallet?
Upon completing staking on Lair’s staking interface, you’ll be asked if you want to add stKAIA to your wallet. Click ‘add stKAIA’ to add the asset and see it on your wallet.
What is GC? And why should I select it?
GC stands for Governance Council. The Kaia Governance Council is a council that has the right to decide various governance matters. Users can stake their KAIA to a GC via Lair to delegate their voting power while still earning KAIA staking rewards. Each GC offers different staking APY due to factors like voting power and commission. Users can see a GC’s voting power and staking APY in the GC selection window on the staking interface.
Unstaking $stKAIA
What is stKAIA unstaking?
stKAIA is unlocking staked KAIA token from the staking contract and returning the tokens back to the user. It takes a 7-days unlocking period and a claim tx to fully return the original assets and rewards back to the user. Alternatively, users can use exchanges to unstake stKAIA instantly by swapping stKAIA for KAIA.
How does unstaking work?
When a user returns stKAIA, Lair NodeController contract unstakes the user’s share of the staked KAIA from a selected GC. The returned stKAIA tokens are burned.
How do I unstake stKAIA?
Users can unstake stKAIA from Lair’s unstake page. Enter the amount you want to unstake, and hit ‘unstake’. After the 7-days unlock period, users can claim their assets and rewards from the claim tab on the unstake page.
How long does it take to unstake?
It takes 7 days to fully unlock the staked KAIA token. Users can choose to unstake instantly by swapping stKAIA for KAIA on exchanges.
Is there a fee for unstaking?
There is no fee for unstaking.
What is claim for?
Kaia network requires that the user claims their unstaking requested KAIA tokens after the unstaking period. You must come back after 7 days and hit the claim button to receive the deserved amount of tokens. If you leave it hanging for more than 2 weeks, the tokens might get staked again when you try to claim them.
How do I claim unstaked KAIA?
You can claim the unstaked KAIA via our claim tab on the unstake page.
What’s the difference between using Lair and exchanges?
Unstaking via lair actually takes delegations away from GCs. If you use exchanges, it’s swapping your stKAIA for other users’ KAIA token. There might be a discount due to skipping the 7-days unlock period.
What is GC? And why should I select it?
GC stands for Governance Council. The Kaia Governance Council is a council that has the right to decide various governance matters. Users can stake their KAIA to a GC via Lair to delegate their voting power while still earning KAIA staking rewards. Each GC offers different staking APY due to factors like voting power and commission. Users can see a GC’s unstakable amount and staking APY in the GC selection window on the unstaking interface.
Restaking
What is restaking?
Simply put, restaking is staking already staked Kaia LST for more rewards. Supported LSTs like $stKAIA, $sKLAY, $gcKLAY, $stKLAY can be restaked to mint $rstKAIA, a LRT by Lair.
What is $rstKAIA?
$rstKAIA is a Liquid Restaking Token that you receive as a proof of your restaking. It’s a yield-bearing token just like $stKAIA. It just bears more yields. It can also be used in DeFi for trading and lending. Holding $rstKAIA is equivalent to restaking.
What do I get for restaking?
You earn multiple rewards. First, you earn native $KAIA staking rewards. Second, you earn boosted Acorn points. Third, you earn $KAIA rewards from Lair Rewards campaign. This is during the pre-farming phase. After Lair liquidity vault launches, you can earn extra token rewards from Lair’s partner protocols.
How do I participate in restaking?
You can start restaking by staking the supported LSTs - $stKAIA, $sKLAY, $gcKLAY, $stKLAY.
What’s the difference between ‘staking rewards’ and ‘restaking rewards’?
‘Staking rewards’ mean native $KAIA staking rewards given by the Kaia block rewards. ‘Restaking rewards’ refer to the extra rewards distributed by Lair for the restakers. To receive the restaking rewards, you just need to sign-in by signing a message in the reward page or the farm page.
Can I unstake and redeem my LST at any time?
Yes, you can unstake $rstKAIA and to receive the underlying LST at any time. Unstaking $rstKAIA takes 7 days just like unstaking $stKAIA. You can claim $stKAIA after the unstaking period is over.
How can I unstake $rstKAIA?
Click the switch button between the LST input box and the $rstKAIA output box. The UI changes to the unstaking window. Input the amount of $rstKAIA you want to unstake, and click unstake.
Why is there a limit?
Lair restaking is still in the early stage. In order to ensure the stability and security of the service, there will be deposit limits for a while.
I want to deposit my LST and participate in restaking, but the cap is reached.
The cap will be raised periodically. Please stay tuned by following our social channels like X and TG.
Unstaking $rstKAIA
How can I unstake $rstKAIA?
Input the amount of $rstKAIA you want to unstake, and click unstake. You’ll get $stKAIA after the unstaking period.
Where can I see my $rstKAIA unstaking status?
If you have an ongoing unstaking process, there should be a claim window below the unstaking window. It shows how much you can claim, how much is pending for claim, and how long it takes for the unstaking to finish.
When can I get my unstaked LST?
After the unstaking period is over, you can claim your unstaked LST by clicking the claim button in the claim window.
How long does it take to unstake $rstKAIA?
It takes 7 days.
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