StakeRank Season 2: Loyalty Program Relaunches with Enhanced Perks and Rewards

Ether.fi's StakeRank Season 2, launched on March 25, 2024, rewards ETH stakers with loyalty points for extended staking durations. The revamped program features an 8-rank level system, where users ascend ranks for every 100 hours of staking, unlocking loyalty point rate boosts. Season 1 participants retain their earned points, but the accumulation rate has been increased 10x to encourage new stakers. To maintain fairness, airdrop eligibility is tightened, requiring additional staking for users who withdrew ETH or accumulated points primarily in Season 1. Ether.fi remains committed to adjusting StakeRank rules to optimize user experience.

StakeRank Season 2: A Deeper Dive into the Loyalty Program

What's New with Season 2?

Ether.fi's StakeRank program has returned with a vengeance, bringing forth a host of enhancements and incentives. Season 2 kicked off on March 25th and will run until June 30th, offering participants a chance to earn significant rewards for staking their ETH.

Revamped Level System and Loyalty Boosts

The program now boasts an eight-tiered level system, where users climb ranks based on the duration they stake their ETH with Ether.fi. Each rank provides a progressively higher loyalty points rate boost, encouraging long-term participation. To qualify for rank advancement, users must maintain a staking balance above 0.1 eETH.

Adjustments for Season 1 Participants and New Stakers

To accommodate the transition from Season 1, Ether.fi has increased the loyalty points accumulation rate by 10x. This move aims to strike a balance between rewarding returning users and attracting new participants. While previously earned points will still contribute to the new season's rewards, their value has been diluted.

Eligibility Criteria Tightened for Fairness

Season 2 has introduced stricter eligibility criteria for the airdrop. Users who withdrew their ETH or primarily withdrew their ETH during Season 1 will not qualify unless they stake additional ETH during the current season. Additionally, users with loyalty points predominantly earned in Season 1 will not be eligible for an airdrop unless they offset the balance with new points acquired in Season 2.

Frequently Asked Questions: Addressing User Concerns

Ether.fi has updated its FAQ section to address common queries. Positions in Pendle YT will continue to be recognized, and there will be no penalty for Pendle pools maturing on April 25th. DeFi protocols not currently tracked will have their points granted retroactively.

Looking Ahead

Ether.fi remains committed to monitoring and adjusting StakeRank rules to ensure fairness and maximize rewards for all participants. This proactive approach reflects the platform's dedication to its community and the evolving landscape of decentralized finance.