Phase 1 (Core Staking & Node Operations): Done ✅

Phase 2 (Advanced Staking & Node Operations): Done ✅

Excellent work NuCypherinos! Now, it's time for WorkLock!

Overview

Phase 3 will be a test run of the WorkLock token distribution mechanism. You'll learn how to contribute Goerli ETH (goETH) in exchange for stake-locked Goerli NU (goNU) tokens which you can use to run a node and recover your escrowed goETH.

Phase 3 ends March 6 at 23:59 UTC.

Here are the details:
(Note: the parameters in the Phase 3 test WorkLock are not necessarily the final parameters that will be used in the production WorkLock.)

• 200M goNU will be distributed through the test WorkLock
• goETH contribution period begins February 18 at 00:00 UTC
• goETH contribution period ends February 22, at 23:59 UTC
• The total contribution amount is uncapped
• goNU will be distributed pro rata across the total amount of contributed goETH
• The distributed goNU will be auto-staked for six months (180 periods) with wind-down off and re-staking on, by default. You are free to change these defaults (i.e. prolong your stake, turn wind-down on, or re-staking off). If you have a different staking configuration set, it will not change these settings.
• Escrowed goETH can be reclaimed as your node earns inflation rewards. If you receive X goNU through the WorkLock, you can reclaim your goETH in proportion to the amount of inflation, Y, that you produce multiplied by a boosting factor: % reclaimable = (Y * boosting_factor) / X

For example, with a boosting factor of 1, if you receive 15,000 goNU from the WorkLock you will reclaim 100% of your goETH once you've produced 15,000 goNU in inflation rewards: 100% = (15,000 * 1) / 15,000. With a boosting factor of 2, you will reclaim 50% of your goETH once you've produced 3,750 goNU in inflation rewards: 50% = (3,750 * 2) / 15,000.
• The boosting rate is 2x
• goETH can be reclaimed more quickly by doing "more" work (i.e. adding goNU to the stake you received from the WorkLock). In fact, since you already have a staker address with staked goNU you're already doing this!

1. Contribute/bid anywhere from 5 goETH to 10 goETH to the WorkLock during the contribution period. Community member @banteg has graciously donated 5 goETH to all the Phase 1 qualifying addresses 🙏. If, for some reason, you didn't receive any or you need more, you can get some here: https://faucet.goerli.mudit.blog/.
2. Once the contribution periods ends claim your NU and bond it to an Ursula worker node (if you have an existing Staker/Worker from previous Phases, this is probably already done)
4. Once you've done some work reclaim/refund some of your escrowed goETH