sSPELL
Last updated
Last updated
After opening the SPELL Staking page, by going to Stake → SPELL, you will have on top the ability to select sSpell. Keep in mind, while mSpell can be used on many chains, you can only stake SPELL for sSpell on Ethereum Mainnet.
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.
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, they will not 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!
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.
For more information on the SPELL and sSPELL tokens visit Tokenomics.
