ðąStaking
In this guide we'll explain everything about staking and un-staking $MODE
Staking is enabled for $MODE giving aditional benefits for the current Season 2. There will be points boosters and OP rewards for users staking their $MODE.
Once a week 20,000 OP will be distributed to everyone that staked Mode. Your share depends on the amount you staked, and the amount of blocks that passed. OP rewards go live at 4pm UTC on Thursday May 16th. Tokens will be distributed on the Optimism chain. Read More
Criteria to get the booster
Users need to stake enough $MODE to equal either 25% or 50% of their entire portfolio valued in USD. All assets from the wallet on Mode Mainnet are taken into account. Example: If you are holding 100 USDC you will have to stake 25$ worth of $MODE or 50$ worth of $MODE in order to get the booster.
If the ratio drops (due to price action or asset reallocation), there is a day of grace period for users to stake more $MODE to get their ratio balance back.
When users are eligible for a points boost, they earn either 1.25x or 1.5x for all points they earn on any asset or position during that time. This is a global multiplier on all other activities. You earn 1.25x if staked $MODE is 25% or more of your portfolio. You earn 1.50x if staked $MODE is 50% or more of your portfolio. If your staked $MODE falls below 25% of your total portfolio, then you will no longer be eligible for the booster until your $MODE staking goes back over 25%. You have a 24 hour grace period before you lose the booster. Same thing happens with 50% and the 1.50x booster.
Locked tokens in liquidity pools are not counted in the protocols for the booster yet. However, these LP positions do count for points and incentives.
Eligibility for the booster is calculated daily.
There is an unstaking waiting period (cooldown) of 7 days. Please be mindful of this when staking your tokens.
Stake & unstake
The user can stake as many tokens as they have in their wallet, and unstake as many tokens as they have staked.
Tokens will be available to withdraw 7 days after unstaking. Unstaking more tokens resets the cooldown period. The cooldown period resets if you unstake again. Example: You have 20 staked tokens. You unstake 10 tokens on day 1. The withdrawal period starts counting. After waiting for 3 days, you decide to unstake the remaining 10 tokens. Now the withdrawal period resets. You now have to wait 7 days to withdraw the total 20 $MODE.
During the unstaking cooldown period, you will not be able to manage or move these tokens. Tokens can be withdrawn and be managed after the cooldown period.
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