πStaking
Understanding the Fees
Ignition implements a 2% fee for both staking and unstaking. This fee is used to maintain the platform's robust ecosystem and to refill the Community Fund.
Selecting Your Stake
Once set up, you can choose the amount you wish to stake. For instance, if you decide to stake 75,000 tokens, you will need an additional 2% for fees, totalling 76,500 tokens. you can calculate this as follows: [number of tokens you wish to stake] (75000) + [2% ](staking fee = 75000 x 2% = 1500) = [# of token needed](76500 $PAID).
sPAID
After staking, you'll receive sPAID (staked $PAID derivative), which will represent your staked amount. sPAID is minted directly to your wallet and is instrumental for participating in βEarly Poolβ, receiving airdrops, APY, revenue share, governance and more...
Staking Length
There is no time lock on staking and unstaking. Once you have successfully unstaked, your tokens will appear in your wallet immediately.
Benefits of Staking on Ignition:
Early Pool Access: Once you stake at least 75 000 $PAID, you will be eligible for Early Pool. Which gives you early access.
The size of your allocations will be uncapped by default, with caps being applied as and when required.
Protocol Revenue: $PAID stakers will receive $PAID tokens via real yield APY from the $PAID Community Fund investment profits. This will create a more sustainable and circular token economy in the long term.
Partner Airdrops: Token holders that have their tokens staked will also be eligible for token airdrops from some of participating Partner Projects launching on Ignition. Participating projects will allocate a percentage of supply for this and anyone who has $PAID staked on ignition will get an airdrop proportional to their stake.
Governance: Stakers will be able to engage directly in decision-making processes with the ability to vote on proposals in the $PAID Community Fund.
Let's explore how to stake:
Go to https://ignition.paidnetwork.com/staking (we recommend you to bookmark this link)
Connect your wallet and ensure that you are on the network where you hold your $PAID tokens, and confirm that you have sufficient ETH/BNB for gas fees.
Select how many $PAID you want to stake. Donβt forget to factor in the 2% staking fee whenever you stake and unstake $PAID.
For instance, let's imagine you are staking 75,000 tokens. Now, you'll need to allow for an additional 2%.
π’ You can calculate this as follows: [number of tokens you wish to stake] (75000) + [2% ](staking fee = 75000 x 2% = 1500) = [# of token needed](76500 $PAID).
Click "Approve," follow the prompt on your wallet, then proceed to βStakeβ and follow the prompts once more.
After successfully staking your $PAID, sPAID will be minted to your wallet. You can "Unstake" sPAID at anytime. Keep in mind that a 2% unstaking fee will be deducted from your sPAID balance when you unstake. (Ex: 75000 sPAID - 2% = 73500 $PAID).
π An Overview of the Staking Rewards:
Staking any amount of $PAID Tokens will make you eligible for the following:
Airdrops from participating partner projects.
Revenue Share
Governance participation
Staking a minimum of 75000 $PAID tokens unlocks access to the Early Pool, providing you with early entry to upcoming Ignition launches.
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