Move $WALLET Staking to a New $stkWALLET Contract

Staking $WALLET should be simple: stake, earn, unstake. Today, it still runs through two tokens, and one of them keeps causing confusion. We propose deploying a new $stkWALLET contract that handles staking and unstaking on its own, and retiring $xWALLET for good.

Background

$xWALLET was Ambire’s original staking token. It uses a pool-share model, so its ratio to $WALLET fluctuates as rewards accumulate. Today, 1 $xWALLET is worth roughly 21 $WALLET, which makes balances hard to read.

An earlier governance vote brought the current $stkWALLET to life as a fix for this. It always shows your balance 1:1 in $WALLET terms. But $stkWALLET is a wrapper built on top of $xWALLET, not a replacement. $xWALLET is still running underneath.

This matters most when you unstake. Your $stkWALLET reverts to $xWALLET for the 30-day leave period, and that $xWALLET balance must remain untouched until the period ends. If it changes, you can’t finalize your withdrawal.

Proposal overview

We propose:

• Deploying a new, standalone $stkWALLET contract that handles staking and unstaking without $xWALLET.
• Migrating all staked balances from both $xWALLET and the current $stkWALLET to the new contract.
• Retiring $xWALLET once migration is complete.

Staking terms stay the same: 2% APY, full voting power for $stkWALLET, reduced Swap & Bridge fees, a 30-day leave period, and instant (rage) leave with a 50% exit fee.

The new contract will be audited before launch. Development begins once the proposal is approved, and we expect the contract to go live in the coming months.

The question is: Should Ambire launch a new $stkWALLET contract and retire $xWALLET?

• Yes
• No

If the majority votes Yes, development begins, and we’ll announce the launch date and migration details in advance.

If the majority votes No, the current setup stays in place, and Ambire can propose an alternative.

What this means for you

If the vote passes (Yes wins):

• Nothing changes yet. Until the new contract is live, keep staking and unstaking as usual.
• Holding $stkWALLET or $xWALLET? Once the new contract is live, you can migrate in one click from the token page in Ambire Wallet. Just sign the transaction.
• Already unstaking? Nothing changes. Your 30-day leave period finishes on the current contract, and you can withdraw your $WALLET as usual.
• Keep earning. The 2% APY will apply to the new contract, so you’ll need to migrate to keep earning staking rewards. A follow-up governance vote will set the migration deadline.

Motivation

One token, one number. $stkWALLET always shows your stake 1:1 in $WALLET. No floating ratio and no conversions.

Simpler, safer unstaking. Unstaking happens in a single contract, without converting back to $xWALLET or leaving you with a balance you can’t touch.

Same benefits, less friction. Rewards, governance power, and fee discounts carry over. Migration takes a single click.

A cleaner foundation. Running staking on one contract removes a source of display bugs, makes governance participation easier to track, and gives $WALLET a simpler story for exchanges, partners, and new users.

If you’d like a say in this decision, make sure you’re ready before the snapshot.

Timeline

The discussion period on Discord runs from October 27, 2026, to November 1, 2026. After that, the proposal goes to a Snapshot vote for 5 days.

Drop your thoughts in the Discord discussion, and get ready to vote on Snapshot.

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