Stake
Stake your SPELL tokens for sSPELL and participate in the Fee sharing mechanism of Abracadabra!
Last updated
Stake your SPELL tokens for sSPELL and participate in the Fee sharing mechanism of Abracadabra!
Last updated
By clicking on the STAKE button in the top part of the screen, users will be able to access the SPELL Staking page. This Page is divided into three frames.
Users will be able to choose to either STAKE or UNSTAKE as shown above. When a user clicks on these two buttons they will be met with a popup window that will either allow them to add SPELL tokens to their position or withdraw SPELL tokens from their position. To switch between these two frames simply click on the two arrows in the middle.
Please note that all the sSPELL tokens are subject to a 24 Hours lock-up period. In other words, every time a user deposits SPELL tokens, he will no be able to unstake them for the following 24 Hours.
In the top right corner of the screen, users will be able to see the sSPELL - SPELL ratio. As more and more fees get added, 1 sSPELL token will be worth more and more SPELL. Bear in mind that this is how rewards for staking SPELL are distributed: the increasing of the value of sSPELL tokens in terms of SPELL tokens!
Here users will be able to check how many SPELL or sSPELL tokens are available in their wallet, as well as the dollar value of those tokens. Underneath it, users will be able to find the Approximate Staking APR given which is computed by Last month's annualized revenue of the protocol.
For more information on the SPELL and sSPELL tokens visit Tokenomics.
