You may have noticed a few changes on the staking dashboard recently. That is because we have upgraded Basechain (Loom Mainnet) to DPoS v3 — an upgrade that brought some pretty massive improvements over v2.

This article will detail some of the more important changes, and how they benefit LOOM delegators.

Below are some of the most significant improvements that you’ll see in v3 — a lot of good news for you — so please read on.

1. Automatic Compounding of Rewards

It’s finally here!

Any unclaimed rewards are automatically restaked and given the base reward (currently 5% per year). This means your staking rewards will automatically start earning even more rewards, without you needing to do anything.

Of course, you can also always claim your rewards and stake them with a longer lock-up period to get more rewards on your rewards.

2. Multiple Delegations per Validator

With DPoS v3, you are now able to delegate multiple times for different lock-up periods to the same validator.

Previously, if you delegated to the same validator twice, your lock time would restart from the time the second delegation was made 😢

But that didn’t offer the flexibility stakers wanted — the ability to stake additional tokens later without affecting previous delegations.

3. Base Reward After Lock Time

Did you go on vacation and forget to restake after your lock time expired, losing out on precious LOOM rewards?

No worries, we got you covered 😎

In v3, delegations with an expired lock time will keep earning the base reward of 5% until the tokens are withdrawn or restaked.

4. Consolidating Multiple Unlocked Delegations

Do you have multiple unlocked delegations with the same validator?

On a particular validator’s page, go to the bottom of the page and press “Consolidate”. This will merge all of your unlocked delegations to that validator into one.