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How to Stake $WELF?

Staking $WELF tokens is a great way to earn rewards while supporting the WELF ecosystem. Follow this guide to start staking:

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Step 1: Visit the Official Staking Dashboard

Visit the official WELF staking dashboard to begin your staking journey.

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Step 2: Connect Your Wallet

Click ‘Connect Wallet’ to link your MetaMask or other compatible wallet to the staking platform. Ensure that the dashboard accurately reflects your $WELF token holdings.

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Step 3: Choose Your Staking Pool

Explore the three available staking pools:

  • Short-term

  • Mid-term

  • Long-term

Each pool offers varying Annual Percentage Yields (APY) and lock-up durations. The longer you commit, the higher your APY.

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Review the lock duration and the associated penalties for early withdrawal before proceeding.

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Step 4: Set Your Staking Preferences

  • Specify the amount of $WELF you want to stake.

  • Set a spending cap for the transaction.

  • Confirm your staking request and be prepared to pay gas fees for the Ethereum transaction.

Once confirmed, you’ll see a deposit success message showing the staked amount and promised APY. The dashboard will update to reflect your staked tokens and the Total Value Locked (TVL) in the pool.

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Step 5: Claim Your Rewards

After the staking period ends, you can claim your rewards, which will be added to your portfolio. Ensure the lock timer has fully elapsed to withdraw without penalties.

Additional Tips and Considerations:

  • Early Withdrawal Penalty: The penalty decreases linearly the longer you stay in the staking pool.

  • Individual Transactions: Each staking transaction is treated independently, with its own penalty structure.

  • Multiple Pools: Staking in different pools won’t affect the timer or penalties of other pools.

  • Track Your Portfolio: Use the dashboard to monitor your staking rewards and overall progress.

  • Gas Fees: Every transaction on the Ethereum network requires gas fees, so plan accordingly.

By following these steps, you’ll maximize the benefits of staking your $WELF tokens while contributing to the growth of the WELF ecosystem.

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