dForce pioneers in staking by introducing a hybrid model featuring both Free Staking and Lock-up Staking, which is the first of its kind in DeFi.
Lock-up staking requires a lock-up period of DF tokens from 1-week (minimum) up to 4-year (maximum) - the longer you lock DF tokens, the higher yield and voting power you will earn.
Lock-up staking yield is accrued on top of free staking yield structurally. In addition to that, most of DF purchased in the secondary market will be rewarded to lock-up stakers.
Now let’s move on to see how to participate in dForce Lock-up Staking.
- Navigate to dForce, click on ‘Staking’ and choose ‘Lock-up Staking’ to continue.
- You can see the total amount of DF participating in Lock-up Staking, % of locked DF as of total circulated DF, average lock-up period, and current APY for Lock-up Staking on the Lock-up Staking page.
- A first-time user has to click on ‘Enable’ and confirm from your Metamask before you can stake with dForce. You need to confirm the transaction from metamask.
- You can see the balance of DF sitting in your wallet. Now please enter the amount of DF you’d like to stake or click on ‘Max’ to stake all, you will also need to select the lock-up period from below.
- Now you will be able to see the due date of the locked DF and the amount of veDF (staking certificate for Lock-up Staking) you shall receive. Click on the ‘Create’ button to continue. You also need to confirm the transaction from your metamask.
- Bravo! You have successfully staked your DF with dForce! You will be able to see all information related to your lock-up position on the personal dashboard.
- You can claim for your DF rewards at any time, but you won’t be able to exit from Lock-up Staking and get your locked DF back before the due date.
- As a reminder, participants can vote with your staking certificate through Snapshot or delegate your voting power to the governor of your choice!