The Alphard Release

Matt Losquadro

Feb 8, 2022 • 1 min read

Later today/tomorrow (2/08/22, ~03:00-05:00 AM UTC), the Alphard release will begin. Minting, Claiming, and Burning will all be down for approximately 2-4 hours on both L1 and L2.

We highly recommend that everyone claim your SNX staking rewards on Layer One and Layer Two right away to ensure that you do not miss the claim period.

Here's what’s included in this release:

SIP-185: Debt Shares: Track staker’s issued debt amount by issuing debt shares when minting or burning sUSD debt.

The new debt shares mechanism will replace the currently used debt ledger by issuing or burning a number of share tokens when sUSD is minted or burned. A staker’s debt percentage will now be their balance of debt shares divided by the total supply of debt shares. While this does not change anything directly for stakers, it does open up many future changes.

This change enables many highly anticipated features, such as debt pool synthesis, putting an end to snapshotting staking rewards, and overall simplification of the debt tracking system.

This release is called Alphard, which like all releases, is named after a star (in order of visual magnitude). If you've got any comments or questions about the release, please join the conversation in Discord.

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