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Put simply staking is a way of earning rewards for holding a token in the medium to long term. This usually happens via a staking pool which is similar to an interest-bearing savings account. There is always a risk with staking as there is with any investment but please read through the documentation so you understand it thoroughly.
ADACash staking is different because it provides you 3 different revenue streams whilst you stake. These are as follows:-
- Staking ADACash yields SOLCash.
- Whilst you are staking your ADACash you also earn ADA in line with the tokenomics.
- The SOLCash that you yield from staking earns you SOL in line with the tokenomics.
All of the above is done automatically so you are able to leave your ADACash staking for as long as you like and claim your SOLCASH, ADA and SOL rewards at any time.
Staking Revenue streams
The easiest way to think about staking is to imagine the stakingpool as an ADACash holder. As soon as you stake your ADACash your staking position becomes an ADACash holder of the amount that you stake. As with any ADACash holder your staking position will then be eligible to earn ADA rewards.
This example explains further
- I initially own 200B ADACash which i am earning rewards in ADA.
- I stake 100B ADACash. My wallet now has 100B ADACash and the staking pool now has 100B ADACash which the contract knows is related to my wallet.
- When the dividend tracker for ADACash triggers your 100B in your wallet gets a dividend as does the 100B in the staking position gets dividends. These can be seen on the staking UI.
In addition, for staking ADACash your earn SOLCash. As you earn SOLCash on your staking position this in turn acts as a wallet that contains SOLCash. The process above then applies, so as the dividend tracker for SOLCash triggers your staking position gets dividends in SOL. These can be seen on the staking UI.
You are able to click Claim at any time on the UI and you will receive your SOLCASH, ADA and SOL to your wallet by paying a minimal gas fee.
You can stake up to 200 Billion ADACash.
There is zero tax when staking ADACash and you can add or remove to the staking pool at any time.
Unlike holding ADACash where the minimum required to earn is 200M there is no minimum amount you need to stake to earn rewards
The APY for the staking pool is dynamic and will decrease as the staked amount of ADACash increases. The APY will increase as the staked amount of ADACash decreases.
Currently there are around 25 SOLCash released from the vault per block. There are currently around 27,000 blocks minted per day. This totals to around 240M tokens released per year which means that the staking pool will run for just over 3 years.
Staking ADACash is simple!
- 2.Your wallet should automatically connect, you can check this in the bottom left.
- 3.In the stake ADACash section add the amount you would like to stake.
- 4.Click Approve and pay the minimal gas fee.
- 5.Click Confirm Staking and pay the minimal gas fee.
- 6.Congratulations you are now staking ADACash.
- 7.Ensure that you in your metamask you have import the following tokens by clicking import tokens then adding the following:-
- 2.Click 'Connect to a wallet'.
- 3.Select WalletConnect then click Trust.
- 4.You will be directed to your wallet where you will be prompted to connect your wallet. Note - ensure that you are connecting on the Smart Chain version of your wallet.
- 5.In the stake ADACash section add the amount you would like to stake.
- 6.Click Approve and pay the minimal gas fee.
- 7.Click Confirm Staking and pay the minimal gas fee.
- 8.Congratulations you are now staking ADACash.
- 9.Ensure that you in your trustwallet you have import the following tokens by clicking the icon in the top right and scroll to the bottom and click 'Add custom token' then adding the following:-
- 2.Click on the unstake button.
- 3.Enter the amount of ADACash you would like to unstake.
- 4.Click Confirm Withdrawal and pay the small gas fee and your tokens will be available in your wallet. Note - If you unstake you also claim the rewards as well.