Meta Capital — Staking & Rewards
The Meta Capital Team is incredibly excited to announce the launch of staking and rewards. It is through this model that profits stemming from investment will be distributed amongst holders.
How Staking & Rewards Works
On our dApp, click the “My Portfolio” button on the lefthand side (make sure to connect your wallet as well, by clicking the button on the top right hand side).
Step 1: Approve + Deposit (Stake)
This function is used to approve your MCAP tokens for use with the sMCAP token contract. You only need to use the approve button 1 time. Once you have approved, you will need to type in the # of tokens you would like to stake in order for the deposit (stake) button to work. You must use whole numbers and no commas. For example, if you want to stake 123,456 tokens, input: 123456.
Once you deposit (stake) your MCAP tokens, you will receive sMCAP (staked MCAP tokens).
IMPORTANT: 1 sMCAP = 1.6 MCAP
You will notice that you receive less sMCAP tokens than the MCAP tokens you staked. This is because 1 sMCAP = 1.6 MCAP. Once you withdraw your staked tokens (and rewards), you will see that 100% of the MCAP tokens you staked return back to your holdings.
If you unstake your tokens in order to claim rewards (as well as your MCAP tokens), you can still re-stake your tokens at any time before the next reward series in order to be eligible.
In order to be eligible for rewards, users must stake their MCAP — in exchange for sMCAP (Staked MCAP in the MCAP rewards pool) or esMCAP (Staked MCAP in the ETH rewards pool). The rewards are distributed proportionally based on the amount of MCAP a user has staked. Staked MCAP (sMCAP) is not locked and can be withdrawn at any time. When a user unstakes their MCAP, their rewards are automatically claimed by that user. For the esMCAP reward pool, users will be able to claim ETH rewards without unstaking their MCAP tokens. Additionally, a user can leave their sMCAP tokens staked, and rewards from each series will continue to accumulate. This allows a user to withdraw rewards from multiple reward series in one transaction, and save gas fees accordingly. If a user has not staked their MCAP during a reward series (when the team sends in either MCAP tokens to the MCAP rewards pool, or ETH to the ETH rewards pool), they will not be eligible for those rewards. Rewards will be distributed on a weekly basis (though the team will increase the frequency to daily in future series).
Also, sMCAP may not automatically show up in your wallet. If you notice this issue, simply navigate through your wallet and find “import tokens.” Paste in the sMCAP contract address and you should see your sMCAP balance show up immediately.
The sMCAP contract address is:0xD081B958d7b197609Aee18236778602c99cD132B
If you have any questions regarding staking or rewards that are not answered in this article (or our whitepaper which is on our website (https://meta-capital.co/) please feel free to ask in our telegram (https://t.me/MetaCapitalOfficial)