mSPELL staking allows users to stake their SPELL tokens and earn stablecoin MIM income coming from the protocol revenue! mSPELL staking has been implemented after the passing of AIP#8 which can be found here!

How does it work

  1. Users are able to choose which staking method they like the most.

  2. For mSPELL, the fees coming from the lending markets stay in MIM, and are shared across the different staking pools proportionally. In other words, MIMs will be distributed proportionally to the amount of SPELL staked in the pool (same process that is happening with the sSPELL pool).

  3. mSPELL stakers will be able to claim their MIM anytime they want using the claim button.

mSPELL staking is available on Avalanche, Arbitrum, Ethereum and Fantom Opera!

How to use mSPELL

Head over to the staking page under Stake → Spell

From here, you'll be able to select mSpell as well as the chain you want to be staking from.

The chain you stake from has no impact on the APR you will get! Each chains receives the same APR.

Please note that all the mSPELL tokens are subject to a 24 Hours lock-up period. In other words, every time a user deposits SPELL tokens, he will not be able to unstake them for the following 24 Hours.

Similarly, every time a user deposits SPELL, he wont be able to claim for 24 hours

Claiming MIM

To claim the pending MIM rewards, simply click on the CLAIM button in the right part of the screen, confirm the transaction in your wallet and wait until it is confirmed by the network! After this has happened you will have correctly harvested your pending MIM rewards!

Staking APR:

The staking APR is determined by looking at the last 30d of revenue. It is variable and depends on the revenue generated by the DAO.

Do not send tokens directly to the contract, they will be lost.

Note that mSPELL is not a token, but a staking mechanism. You will not get back a token, but will have an opened position, exactly like when using our Farms.

The mSPELL deployment addresses are:

  • Ethereum: 0xbD2fBaf2dc95bD78Cf1cD3c5235B33D1165E6797

  • Avalanche: 0xBd84472B31d947314fDFa2ea42460A2727F955Af

  • Fantom: 0xa668762fb20bcd7148Db1bdb402ec06Eb6DAD569

  • Arbitrum: 0x1DF188958A8674B5177f77667b8D173c3CdD9e51

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