Terms and Definitions

JetGovern Definitions

Stake - When you “stake” your JET tokens, you will be able to vote on active proposals in the time frame allotted. In the future, staked JET might earns a portion of the protocol revenue proportionate to all staked JET tokens. For a 180-day period after staking goes live, there will be a total of 13 million JET distributed proportionally to stakers in this pool as described in the Medium announcement. Staked JET also are the primary insurance fund for a protocol-wide event such as bad debt—in this event, the first backstop is staked JET (see "Staked JET as a Primary Insurance Fund").

Unstake - When you “unstake” your JET tokens they will immediately enter the 29.5-day unbonding period, during which time you may not vote and rewards will cease to accrue, but the unbonding tokens will still be a part of the JET insurance fund. After the unbonding period ends, you may withdraw the staked JET to your wallet. At any time during the unbonding period, you may choose to restake from the Flight Logs page to immediately regain the ability to vote and earn distributed JET (if the 180-day program is still active). If you unstake a portion of your JET after having voted on a currently-active proposal, you must re-vote with your remaining staked JET on those active proposals.

Unbonding Period - When you elect to unstake JET tokens, a required unbonding period of 29.5 days will begin as soon as the unstaking transaction is completed by the user. During this unbonding period, the user may not vote on any proposals, and will not earn any interest. While unbonding, the staked JET is still in use as an insurance backstop for the platform.

APR (in the context of staking on JetGovern) - This is the rate at which staked JET will accrue more staked JET. This rate will vary based on several factors, including the total amount of JET staked by all users. In the future, it is possible that protocol fees may be directed in part to JET stakers as described in the docs (see "Fees"). Note that if a user wants to unstake their JET and enters the unbonding period, that user's APR will drop to 0% for the duration of the unbonding period.