How to stake $BITU
Staking $BITU enables holders to receive the protocol's generated yield
Last updated
Staking $BITU enables holders to receive the protocol's generated yield
Last updated
Users can stake $BITU through our UI or via our API. Using the UI, the user workflow to stake $BITU is as follows:
Step 1: Enter the amount of $BITU you want to stake, then check the amount of $sBITU to be received.
Step 2: Press "Stake" to trigger a wallet prompt, then confirm to process the transaction.
Upon successful transaction, the user receives the corresponding $sBITU while the $BITU is staked in the contract.
Important Note:
Users simply need to hold $sBITU to earn rewards, without any further action required. $sBITU can be obtained by staking $BITU. The reward module is open to all users and does not require whitelist verification. Both minted $BITU and $BITU purchased from the open market can be staked to earn rewards.
The amount of $sBITU received when staking $BITU depends on the current value of $sBITU. As protocol earnings are transferred into the staking smart contract, the value of $sBITU will gradually increase. Therefore, the quantity of $sBITU received by stakers may be less than the amount of $BITU staked, but the value of $sBITU will always be equal to or greater than the $BITU staked.
Rewards are distributed at regular intervals to minimize the risk of 'sandwich attacks'. BitU staggers these distributions throughout each epoch to enhance the efficiency of earnings.
Earnings are not paid directly to $sBITU holders. Instead, users receive the equivalent $BITU upon unstaking, which can be done at any time. This includes the original $BITU staked plus any increase in $sBITU value from staking to unstaking. After a cooldown period, funds can be withdrawn to the user's wallet.
