Staked IPOR, or Power IPOR (pwIPOR), is an avenue to put a user's IPOR tokens to use.
The IPOR token is intended to be precisely what it is - a token; Power IPOR, on the other hand, has been designed with greater functionality in mind.
Process of Staking
Staking IPOR to get Power IPOR (pwIPOR) is straightforward. Simply execute function stake() with IPOR tokens to receive a pwIPOR from the staking contract.
Power IPOR can not be transferred. That is to enable simultaneous liquidity mining, voting, voting delegation, and possibly other uses that the IPOR DAO will develop.
If you want to transfer Power Tokens, you need to unstake the tokens first and transfer IPOR tokens.
1:1 Exchange Ratio
IPOR and pwIPOR tokens are exchangeable 1:1. Even if there is some yield generation on pwIPOR, such as what might take place in the case of a token buyback, tokens will still be convertible 1:1, and holders of pwIPOR will see a higher balance of staked IPOR tokens in their wallet.
The only way to vote for DAO proposals within the IPOR protocol is to get the Power IPOR tokens. An IPOR token on its own does not participate in voting.
Power IPOR Delegation
Specific uses, such as voting, can be delegated to another address. If you wish to delegate your Power IPOR to another address, you're free to do so. By transferring your voting power, you will not be able to vote; however, you can still use Power IPOR for other things, such as liquidity mining.
Unstaking your Power IPOR and converting it to an IPOR token requires a 14-day cool-off period if you want to redeem it without fees. If you don't want to wait, a 50% fee is applied to your Power IPOR before it's converted and distributed to other Power IPOR holders.