If you are LOOT token holder, the following steps help you to stake your token in the staking program. Here’s the step by step introductions. The smart contract is powered by Vault.inc and be audited by well-trusted auditing company Quantstamp and Certik. Let’s go with the step-by-step tutorials.
Step #1: Connect your wallet on Lootex DAO
On the right upper corner, please click Connect Wallet, and choose choose “Metamask” or “ WalletConnect”.
Didn’t see your wallet provider? Check here for the crypto wallets that WalletConnect supports: https://walletconnect.com/registry?. After connect your wallet, you will see your staking reward and the staked amount.
Step #2: Stake your LOOT tokens
Please click “Stake” button.Ｓ
Choose the pool between LOOT and LOOT-LP, and click “stake”.
- Pool 1 — LOOT token single-sided staking pool. This pool will receive 20% of the monthly liquidity mining rewards.
- Pool 2 — LOOT/ETH Liquidity pool is composed of 50% LOOT and 50% ETH. You have to stake ETH and LOOT into Uniswap first to get LP tokens. This pool will receive 80% of the liquidity mining rewards.
You can choose to stake in the following ways:
- Flexible — you can unlock and withdraw anytime. Your weight of reward is fixed to 1.
- Locked — select a duration(1–52 weeks) that you want to lock for. The longer you lock, the more weight of reward that you will be distributed by each blocks. Your weight of reward is up to 2 while you lock for 1 year (52 weeks)
Step #3: Approve and stake
Click “APPROVE” to approve the staking contract to pull your LOOT tokens. This transaction will cost you transaction fee by ETH.
After the transaction is completed, refresh the page and you will see “STAKE” button.
After the transaction is completed, you will successfully stake your tokens.
Step #4: Unlock your staked LOOT tokens
When you want to quit the staking program, click Unlock on the deposit. Note that if your tokens are in the lock period, you cannot unlock your tokens.
Step #5: Claim rewards
Click “Claim” under the Rewards. You will see that you are accumulating rewards by each blocks. Click “Claim” to make your unclaimed rewards into reward. The reward is vested for another 12 months. You can unlock the locked rewards after the remaining time period ends.