How it Works

For the purposes of this section, we will use ORA as the paired dualSTAKE asset.

The ORA dualSTAKE token is called oraALGO.

  • Each oraALGO unit is backed by ALGO at a rate of 1:1
  • Each oraALGO unit is backed by an increasing amount of ORA
oraALGO issuance is fully managed by a smart contract. Different tokens are managed by independent contracts, without co-mingling.

A typical user journey with a dualSTAKE token like oraALGO would consist of:

  1. minting dualSTAKE (e.g. oraALGO) by depositing ALGO + ORA
  2. (later on) redeeming their oraALGO dualSTAKE tokens for ALGO + more ORA.

Between points 1 and 2, the dualSTAKE contract would receive staking rewards from block production, which are immediately swapped into the paired ASA, increasing the ORA amount backing each unit of oraALGO. The amount of staked ALGO remains constant.

dualSTAKE supports farms, which pay out an additional amount in the paired ASA for each block produced, resulting in a higher APR. Farms are permissionless and can be created or extended by anyone.

Read more about minting or navigate to a specific section using the menu.