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  • Claiming MIM
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mSPELL

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Last updated 15 days ago

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 !

How it Works:

Users can choose their preferred staking method. For mSPELL, the fees generated from the lending markets are held in MIM and shared across different staking pools proportionally. In other words, MIM will be distributed based on the amount of SPELL staked in the pool—similar to the process used in the sSPELL pool.

mSPELL stakers can claim their MIM at any time using the Claim button.

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

How to Use mSPELL:

  1. Head over to the Staking page under Stake → SPELL.

  2. From there, you can select mSPELL and choose the chain you want to stake on.

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

Please note that all mSPELL tokens are subject to a 24-hour lock-up period. This means that whenever a user deposits SPELL tokens, they will not be able to unstake them for the next 24 hours.

Similarly, after depositing SPELL, users will not be able to claim rewards for the following 24 hours.

Claiming MIM

To claim your pending MIM rewards, simply click the CLAIM button on the right side of the screen. Confirm the transaction in your wallet and wait for the network to confirm it. Once confirmed, your pending MIM rewards will be successfully harvested!

Staking APR:

The staking APR is determined by looking at the last 30 days 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, It is staking mechanism. You will not get back a token, but will have an opened position, exactly like when using our cauldrons.

The mSPELL deployment addresses are:

  • Ethereum: 0xbD2fBaf2dc95bD78Cf1cD3c5235B33D1165E6797

  • Avalanche: 0xBd84472B31d947314fDFa2ea42460A2727F955Af

  • Fantom: 0xa668762fb20bcd7148Db1bdb402ec06Eb6DAD569

  • Arbitrum: 0x1DF188958A8674B5177f77667b8D173c3CdD9e51

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