This is a general guide to staking on Demodyfi with answers to common questions about the staking process and purpose.
To stake in The Demodyfi Pool, you must have $DMOD tokens. You can get $DMOD tokens by trading on PancakeSwap and Uniswap, DMOD-ETH UNI LP token <> DMOD-BNB Pancake LP Token
When you deposit assets to the Demodyfi liquidity pool and stake your tokenized pool shares, you are eligible to earn both trading fees (mainnet) and staking rewards. This is because as a liquidity provider, you face asset risk (by supplying your tokens to the pool) and volatility risk (because price swings can lead to impermanent loss). In exchange for this “work”, you are rewarded with:
- 1.Trading fees e.g. Uniswap V2 offers a 0.03% fee to anyone who supplies liquidity to a token pair.
- 2.Staking rewards in the form of DMOD tokens.
When you contribute liquidity to the DMOD/ETH Uniswap pool and stake your DMOD/ETH shares, you’ll be rewarded in $DMOD, while the same applies for BNB users.
Ans. There is no limit to the amount of tokens you can stake.
Ans. There is no locking mechanism, you can unstake your tokens anytime and withdraw. Although the reward accumulated for that month will be nullified.
Q3. When can you harvest your reward ?
Ans. You can harvest your reward right after a month/epoch ends, and not during a month.
Q4. Can I withdraw my stake during a month and harvest the reward for the duration I was staked ?
Ans. No, You need to keep your stake throughout the month in order to get the rewards, mid epoch withdrawals will result in reward nullification.
Q5. Can someone stake at the end of the month and still get rewards for the whole month ?
Ans. No, the staking algorithm takes the time of deposit into account and adjusts the stake that will be considered in that epoch. The total stake will be accepted in the next month automatically. For Eg - Roughly, If 15 days have passed in a month and someone stakes 100 tokens only 50 will be considered for that month and the full 100 tokens will be staked for the next month.
Q6. What does harvest do ?
Ans. Harvest transfers all the reward DMOD account into your wallet and keeps the staked DMOD in the pool only.
Q7. What does harvest and stake do ?
Ans. Harvest and stake in
both pools (DMOD and DMOD_LP)deposits the rewarded DMOD into
DMOD Pool, this enables you to compound your DMOD stake without wasting gas fees.
Q8. How can I transfer my DMOD from Ethereum or BSC or vice-versa ?