🥩Stake your Maia (🌿,🏛️)
What is Staking?
Staking is the primary value accrual strategy of Maia holders. Stakers stake their Maia tokens on Maia Website to earn rebase rewards. The rebase rewards come from the proceed from bond sales, and can vary based on the number of MAIA staked in the protocol and the reward rate set by monetary policy.
Staking is a passive, long-term strategy. The increase in your stake of MAIA translates into a constantly falling cost basis converging to zero. This means even if the market price of MAIA drops below your initial purchase price, given a long enough staking period, the increase in your staked MAIA balance should eventually outpace the fall in price.
When you stake, you lock MAIA and receive an equal amount of sMAIA. Your sMAIA balance rebases up automatically at the end of every epoch. sMAIA is transferable and therefore composable with other DeFi protocols.
When you unstake, you burn sMAIA and receive an equal amount of MAIA tokens. Unstaking means the user will forfeit the upcoming rebase reward. Note that the forfeited reward is only applicable to the unstaked amount; the remaining staked MAIA (if any) will continue to receive rebase rewards.
After that, your sMAIA balance will increase automatically on every epoch (8 hours) based on the current APY.
The sMAIA address on Metis Andromeda is 0x559119275a8A862EdbD2cDE21196f4c758D5Ab84.
How to Buy MAIA
Go to this Hermes Protocol swap page
Make sure the output currency is MAIA. You can also copy and paste MAIA contract address in the output currency field to ensure you are swapping the right token. The MAIA token address on Metis Andromeda is 0x72c232D56542Ba082592DEE7C77b1C6CFA758BCD.
You can select any input currency based on your available wallet balance. We recommend m.USDC-MAIA pair for the deepest liquidity!
Select the amount of MAIA you want to swap for. Then click "Approve" and sign the transaction.
After the "Approve" transaction has been processed successfully, click "Swap" and sign the transaction.
You should see MAIA in your wallet balance now after the swap transaction is successful. If you cannot find it in your wallet, add MAIA contract address to your wallet.
Note: The "Approve" transaction is only needed when you swap MAIA for the first time; subsequent swapping only requires you to perform the "Swap" transaction.
How to Stake
Go to the Stake page of the Maia website. Select the "Stake" tab.
Enter the amount of MAIA that you would like to stake in the input field. If you would like to stake all your MAIA, press the "Max" button and the input field will be populated with all your available MAIA balance.
Click "Approve" and sign the transaction.
After the "Approve" transaction has been processed successfully, click "Stake" and sign the transaction. Voila, you have staked your MAIA!
How to Unstake
Go to the Stake page of the Maia website. Select the "Unstake" tab.
Enter the amount of sMAIA that you would like to unstake in the input field. If you would like to unstake all your sMAIA, press the "Max" button and the input field will be populated with all your available sMAIA balance.
Click "Approve" and sign the transaction.
After the "Approve" transaction has been processed successfully, click "Unstake" and sign the transaction.
Note: The "Approve" transaction is only needed when staking/unstaking for the first time; subsequent staking/unstaking only requires you to perform the "Stake" or "Unstake" transaction.
Reading the Info
APY tells you the annualized rate of return based on the reward yield. It takes into account the effect of compounding since sMAIA rebases exponentially.
TVL measures the dollar amount of all the staked MAIA in Maia.
Current Index allows you to track your gain from staking. The index started from 1 at epoch 0, and increases every epoch. If you staked at genesis (epoch 0) and never unstaked any MAIA, your balance today would be X times greater, where X is the current index. You can use the index to track your position by marking down the index number when you stake and unstake. You divide the index number when you unstake by the index number when you stake to get the ratio by which your sMAIA balance has increased.
Your Balance tells you how many unstaked MAIA are in your wallet. This is the maximum amount that you can stake.
Your Staked Balance tells you how many staked MAIA are in your wallet. This is the maximum amount that you can unstake.
Next Reward Amount tells you how much sMAIA you are getting next rebase,
Next Reward Yield tells you how much your sMAIA balance will increase when the next epoch begins. For example, if you stake 100 MAIA and the upcoming rebase is 0.5427%, your sMAIA balance would increase from 100 to 100.5427.
ROI (5-Day Rate) estimates how much your sMAIA balance will increase after 5 days, if the reward yield stays the same during this period. For example, if you stake 100 MAIA and the rate is 8.4577%, your sMAIA balance would increase from 100 to 108.4577 after 5 days.
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