staking dApp features
The Staking dApp will allow you to create as many staking positions as you want. We call them staking vaults. In each vault you’ll be able to stake $GENS tokens and NFTs.
$GENS holders have the ability to stake their tokens in the staking dApp to earn yield with a fixed APY in locked staking contracts. There are 3 types of contracts:
- 6 months staking: offering a 9% fixed APY
- 9 months staking: offering a 11% fixed APY
- 12 months staking: offering a 15% fixed APY
Users are able to stake their $GENS for either 6, 9 or 12 months. These locked staking options will be available until May 25th 2023. We will provide the exact deadline and further details in the future.
When creating a staking vault with $GENS tokens, you’ll be able to add APY booster NFTs such as the Genius NFTs and Mascot NFTs, providing a flat 2% to 6% APY increase up to a year.
If you choose the 6 month or 9 month staking vault and use an APY boosting NFT, the NFT will be returned at the end of the staking period, and can be used in a new staking vault for the remainder of the utility.
For example:
User adds a 5% APY Boost NFT in a 9 month staking vault. The user would earn 16% APY for 9 months. At the end, he would be returned the 5% APY Boost NFT with 3 months remaining utility.
Only one APY booster NFT is allowed per vault. You can create multiple vaults to fit your needs and stake one APY booster NFT on each vault.
Delegators are able to use their ISPO NFT in the staking dApp to earn yield on their remaining 50% vested ISPO rewards! Users have the option to create a staking vault for either 6, 9 or 12 months. You are also able to increase your yield by staking an APY Booster NFT. You can even add non-vested $GENS tokens to this vault in order to increase your staking positions!
We want to remind you that any ISPO NFT will allow you to stake your vested $GENS tokens from ISPO.
Last modified 1mo ago