$DOGA staking just got even more interesting — As of today, a new fixed staking program is available that offers users 33% APR on their initial deposit!
Whether you’re new around here (a warm welcome to you if that’s the case) or you’re a veteran staker who’s helped maintained order and peace in the Petaverse, you can now acquire even more $DOGA rewards with our new program. Let’s get started! 🔥
What is $DOGA Staking?
As a reminder, the staking feature enables anyone who’s purchased $DOGA tokens to get rewards for being part of the DOGAMÍ network. Users stake their tokens and receive $DOGA rewards based on a fixed rate calculated on an annual basis, also called Annual Percentage Rate (or APR).
Terms for staking vary but are typically either fixed or flexible. This article will cover the recent rollout of fixed staking with an APR (annual percentage rate) of 33% and the new 8% flexible rate (this was previously set at 22% and all users that were previously staking on these terms have automatically been transferred to the new staking program).
Let’s compare both options! 🔍
Fixed Term
DOGAMÍ’s most recent program, this plan offers users an APR of 33% enabling them to get rewarded at a higher rate for locking up their $DOGA. In order to benefit from the higher rewards, users must lock up their funds for at least 3 months. There is however no minimum or maximum amount for users to stake.
Flexible Term
Flexible staking plans enable users to access their funds without being penalized should they wish to unstake early. Our flexible term staking program offers an APR of 8%. Once again, there is no maximum or minimum staking period but users begin to accrue rewards shortly after they stake and don’t have to wait 3 months unlike the fixed term staking program.
You’re free to choose whichever plan you want, or stake with a mixture of both programs should you wish to have some $DOGA to hand without losing possible rewards.
How to Stake
First things first, you need to have a Tezos wallet and some $DOGA to start staking. If you don’t know how to do this, we’ve got your back!
- Create a Tezos beacon wallet: Tutorial
- Get some $DOGA: Step-by-step guide
If these steps are already completed, continue reading.
First, you need to head over to the staking platform here from the main DOGAMÍ website:
Connect your Tezos beacon wallet to the platform (Temple, Kukai, Airgap etc). In this tutorial, we’ll be using Temple. Click the connect button on the top right hand side of the screen.
You’ll be prompted to choose your preferred wallet. Once you do this, you’ll then be asked to confirm your connection.
Great! Now you’re connected to the staking platform. This is the main interface:
Let’s start staking some $DOGA! Go to the Staking block on the left-hand side of the screen and choose your preferred program.
Next, add the amount of $DOGA you wish to stake. In this example, we’ll be staking on a fixed rate. We’ll therefore make sure that we’ve selected the locked 33% button. We also added 100 $DOGA to stake.
If you prefer to stake your entire balance, you can simply click ‘use max’.
Note that your $DOGA balance can be seen above the input field. You cannot stake more than you own.
Once you’ve chosen the amount to stake, click the checkbox to agree to the Terms and Conditions (you can read these by clicking the underlined link) then click “stake now.”
You will see another window appear to give a recap of your locked staking terms as well as the estimated rewards. Click confirm to continue.
Note: Whenever you stake $DOGA, you need to have some XTZ (Tezos) in your wallet to cover the transaction fees. If you don’t have a sufficient balance, the transaction will fail.
You will be prompted to enter your password. Each staking event will require this step. Once you’ve entered your password, you’ll also be required to confirm the transaction via a popup window. Click confirm.
Whilst the transaction is confirming, a popup will appear above the staking interface.
It might take a couple of minutes for your staked balance to update. Refresh your browser if the balance has not updated momentarily.
Now you should be able to see your staked $DOGA in the “My Staking Details” block on the right:
Great, you’ve just staked your first amount of $DOGA (and you’ve helped make the Petaverse a better place!). 🐶
Each time you stake, a separate staking event is created (this is simply a new line). You cannot add or remove $DOGA from a staked amount on the fixed program. If we wanted to stake another 20 $DOGA on the fixed program, another line would be added (the exact same process as before would need to be followed).
Note that the $DOGA Earned, the Rewards block (which both give the same information) and the duration are empty. Your rewards will increase with time.
How to stake $DOGA on Flexible terms
To stake $DOGA with the flexible program, simply follow the same process for the fixed plan but select the Flexible program on the staking block and choose the amount to stake (be sure to click the checkbox too):
Be sure to sign the transaction. Once it’s confirmed, the newly staked amount should appear in the “My Staking Details” block:
Collect Your Rewards
So you’ve been staking $DOGA and defending the Petaverse, good job! 💜
Now it’s time to reap some rewards. Please bear in mind that you can only collect rewards for the fixed rate program after a 3 month period (if you unstake beforehand, you will only collect your balance and not the accrued awards). The flexible staking rewards are available whenever however.
From the staking interface, click the “collect” button (on the flexible staking line):
A window will appear showing your $DOGA rewards to date. You will see your balance to claim above the collect button.
Note: this is empty at present as the example $DOGA in this tutorial has only been staked for short amount of time. $DOGA rewards have not yet accrued.
Click collect.
You should next see your wallet prompting you to confirm the transaction. Please bear in mind, you will need to pay some gas fees for this (very minimal) in XTZ to enable you to recuperate your rewards.
Once you’ve confirmed the transaction, you will need to refresh the page in order to see your rewards in your wallet. This can take a few minutes to update.
Your rewards are calculated on an annual basis, this is the APR. Currently the flexible staking is set at 8%. Please note that this is an annualized rate. As an example, if you unstake your $DOGA after 1 month, you will get approximately 1/12th of 8% = 0.66%.
Unstake your $DOGA
Flexible staking means flexible unstaking! If you’d like to unstake your $DOGA, go to “My Staking Details” and click “Unstake.”
Choose the amount you would like to unstake. You can either choose the maximum amount by clicking max or enter a value of your choosing. Here we’ve chosen to unstake the full amount.
Click Unstake. You will prompted to enter your password once again via your wallet.
Then you will be asked to confirm the transaction. Please note again that a small amount of gas fees will be required in XTZ (Tezos) in order for you to unstake your $DOGA. Click confirm.
You will be redirected back to the staking interface whilst the transaction is confirming. Once it is complete you will be notified via a popup on your navigator.
The dashboard takes a little time to refresh. Reload the page if necessary. You will notice the balance on the flexible staking program has now been updated as we have unstaked 50 $DOGA. They have been returned to the $DOGA balance (which has increased by 50).
Dashboard features
The staking platform also has some other features for users. You can observe the current $DOGA price, how much $DOGA has been staked by the community, the distributed rewards as well as the current volume.👌
Let’s make the Petaverse a better place and stake some $DOGA!
Disclaimer
The purchaser of $DOGA undertakes to give full considerations to all risk factors, including but not limited to the volatility of crypto-assets prices and markets in general, risks of systemic failure, risks of code failure, bugs, hardware failure, loss of data, theft, lost usernames, passwords or private keys, incorrectly executed transactions and/or hacks which can lead to, inter alia, the complete loss of the Tokens.
$DOGA digital tokens are utility-type crypto assets that do not represent any kind of equity right over Dogami Sàrl (‘the Company’), they do not incorporate any rights or claims over the profits or revenues of the Company, neither provide the owner with a conversion right into shares of Company or other equity of Company nor represent or confer any ownership right or stake, share or security or equivalent rights, voting right or any right to receive dividends, future revenue shares, intellectual property rights or any other form of participation in the Company and they shall not represent shares, bonds, securities, structured products, derivatives or any kind of financial instrument or investment product.
$DOGA digital tokens are not intended to be used outside of the DOGAMÍ ecosystem as a means of payment for acquiring goods or services. $DOGA digital tokens are non-refundable.
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