Unipump Staking Guide
The biggest difference is that we don’t have an “unstake” button. Instead, a number of “days to stake” is selected when coins are first locked into the staking contract. At the end of this staking period, the coins unlock and stop producing rewards. Once these coins are unlocked, they can be claimed along with the rewards.
Rewards are calculated once per day at the “epoch time”. The epoch time is currently unknown, but it will be set to the exact time the activate staking function is called.
How To Stake in Unipump
- Click on the staking tab on the main app screen.
- Enter the amount you want to stake.
- Click the approve button, and send the transaction.
- Wait for the transaction to confirm.
- Click on “stake,” and send the transaction.
- Once it confirms, you’re finished. Make sure to come back and claim your rewards!
Design Decisions
Stakers aren’t used to having a choice in how long their coins will be locked, but we wanted our staking to be more than just a “free money” button.
Having to choose the fixed staking time period is a double-edged sword. Because future market movements cannot be known, locking up for too long could be the wrong move. However, advantage is given to those who pay attention and engage more with the system. By stopping rewards after the timer is up, we make sure people need to pay at least some attention to the system to profit from it.
