Can you clarify @marcosd ?
A bucket with 900 days stake duration holding 10,547.48392 IOTX will be able to participate in liquid staking?
Thanks.
Yes, but the staking duration will have to remain the same or be longer and the number of tokens will have to be an exact amount for one of the pre-defined buckets. (Almost certainly there will be a 10,000 token bucket defined)
@seedlet Can you give a more precise answer if I’ve left anything out or misstated something?
Very confused. You say Yes, but your explanation suggests NO.
Sorry for the confusion. Strictly answered, no that exact # of tokens cannot be converted. We’ll create NFT options for specific numbers of tokens. And with respect to the duration. The duration will have to be the same or greater than the staked bucket duration. Did that clarify things or did I still miss the mark?
So if I have a bucket with 3,304,348.4858438 IOTX and a 300 day stake duration, for example, and 1,000,000 IOTX with a 365 day stake duration is one of the qualifying pre-defined buckets for liquid staking:
Can I split my bucket into 4 new buckets with 1M, 1M, 1M and 304,348 IOTX. Then increase the stake duration on those first 3 buckets to 365 days so that they are eligible?
I believe so, re: the stake duration. But the 4th bucket will have to be one of the pre-defined token number increments. @seedlet, can you weigh in on this question?
I am just wondering if you will be able to split current buckets to meet the pre-defined bucket size criteria. So in the above example, perhaps get 3 NFTs representing 1M IOTX staked for 365 days, and be left with 304,348 IOTX. Then maybe get another 3 NFTs representing 100k IOTX staked for 365 days, and be left with 4,348 IOTX in the original bucket. All but the remaining 4,348 IOTX would be eligible to participate in liquid staking. Correct?
Yes, I think this is correct. The unknown is what the NFT sizes (i.e. how many IOTX per NFT) will be offered.
Okay. Can you get confirmation for me that it is correct? Thanks.
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In current design, migrating a native bucket to contract buckets, the original bucket will be burned. To achieve that, in the example @MFI given above, 95,652 IOTX will be needed to create the 4th NFT along with the migration transaction.
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Thanks for addressing that!
Oh, I think I understand. So if I had 2,195,000 IOTX in a current bucket, I could add 5k IOTX to that bucket and then burn the bucket in exchange for two 1M IOTX contract buckets and two 100k IOTX contract buckets. Do I have this correct? Sorry I am a bit slow 
Yep, that’s the theory as I understand it. The number of IOTX has to fit neatly into whatever denomination of NFTs exist. So you have to ‘top off’ the remainder to make it fit the next available NFT size.
IIP-13 Passed - What does that mean?
IIP13 Passed - What does that mean?
What will people soon be able to do?
IoTeX Improvement Proposal 13 passed and now dApp developers can build projects similar to Lido and Rocket Pool to create Liquid Staking Derivatives. (LSDs) In IoTeX’s case this would happen by taking certain staking buckets and enabling them to be converted into NFTs that represent both the value and stake duration of the buckets.
What does that mean for you and me? I’m assuming that neither of us is a developer. (Nothing wrong with developers. Some of my favorite people are developers)
The dApps we expect to see on IoTeX will let people those staked tokens as collateral for loans or margin trading to earning yield. That makes staked tokens immensely more valuable than ever before.
Given this increased value and flexibility in staking, we can expect to see more people stake (as has happened on other chains that have LSDs) Since we’re a proof-of-stake chain that means the chain will be more secure.
What does this say about community governance?
If you’re curious about how the vote turned out, here are the basic statistics:
IIP 13 Final Tally
123 Wallets votedIOTX value - 145.1 millionPassed with 97% of vote
How does this level of participation compare with previous votes? Better than the prior two Improvement Proposals but less participation than the last two in this list. We’ll keep an eye on the level of participation. It’s probably a good proxy for the health of an important part of the community.
Burn-drop Tokenomics Update
81 Wallets voted
IOTX value - 58 million
Passed with 97.89% of vote
Mainnet v1.9
70 Wallets voted
IOTX value - 50 million
Passed with 100% of vote
Naming Conventions for Cross-Chain Assets
485 Wallets voted
IOTX value - 186 million
Passed with 99.56% of vote
Extend Foundation Bonus Staking Reward
456 Wallets voted
IOTX value - 258 million
Passed with 97% of vote
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