Staking is a mechanism which allows holders to earn yield by depositing their tokens into a protocol's smart contract. Generally, staking rewards are sufficiently competitive so as to encourage depositors, but conservative enough so as to not risk long-term sustainability at the expense of short-term gain. #AMPLIFI holders can stake their native tokens to earn a target of approximately 38% APY.
Staking rewards are compoundable, meaning an individual may stake, claim rewards, and then stake those accrued rewards to accelerate their earnings rate. Through the process of compounding, staking rewards are significantly higher than 38%.
Staking is not limited to holders with fewer than 20 #AMPLIFI tokens. In fact, Staking is a means to hedge against the risk of Time Decay and Claim Frequency Decay incurred by Amplifiers, as Amplifiers decay 15% logarithmically per claim, whereas Staking may generate at least 38% APY.
Based on the mechanisms behind Staking, AmpliFi targets (rather than guarantees) a certain annual yield for staked #AMPLIFI holders. The actual return may be slightly higher or lower, in which case AmpliFi will allocate greater or fewer #AMPLIFI tokens into the Staking rewards pool.
To begin staking, follow these steps:
- 1.Visit perpetualyield.io and click 'Begin' to enter the DApp
- 2.Navigate to the left bar and click 'Staking'
- 3.On the left, you'll see the 'AMPLIFI Staking Pool' with a target APY of 38%
- 4.Be sure you've already acquired the #AMPLIFI token and connected your wallet to the DApp
- 5.Now, within the Staking Pool module, click "Get Started"
- 6.In the pop-up, select how many tokens you'd like to stake
- 7.Approve permissions for the contract to access your #AMPLIFI, if you haven't done so before (this will be prompted in your wallet once you press approve)
- 8.Once the Approval transaction goes through, you'll see the pop-up button change to "Stake"
- 9.Confirm the amount you'd like to stake and press the button to initiate the staking transaction!
- 10.Congratulations! You're now single-sided staking #AMPLIFI.
In the 'AMPLIFI Staking Pool' module, you can always view your deposited amount and earned rewards. Remember - you can unstake and claim (or compound) your rewards at any time.
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