🔏Stake
Stake your NUKEM tokens for sNUKEM and vote lock your sNUKEM to participate in the Fee sharing mechanism of Nukem Loans!
STAKE - Deposit NUKEM, receive sNUKEM
By clicking on the SWITCH TO INVEST button on the menu of the screen, users will be able to access the NUKEM Investing page.
After changing to INVEST interface, User can choose between following features:
Markets
Lend
Stake - select for staking
Nuke
After selecting the STAKE option, the following interface will pop up:
In this interface, Users can select the amount of NUKEM tokens they wish to stake and the corresponding amount of sNUKEM tokens they will receive after a successful staking process. In the 'Transaction Info' section of this interface, the balances of both NUKEM and sNUKEM are displayed for the current state and the state after the staking transaction is completed.
After selecting the desired amount of tokens to stake, the User initiates the transaction by clicking on the 'Approve' button. Metamask will pop-up and after signing the signature request in the Metamask STAKE button will appear.
Clicking on the 'Stake' button initiates the staking transaction. Metamask will pop up, and after confirming the transaction, it will be completed.
Your NUKEM is now successfully staked! Your share in this staking pool is represented by the ERC-4626 token sNUKEM, which you can find in your wallet after importing.
Please note that all the sNUKEM tokens are subject to a 10 day lock-up period. In other words, every time a user deposits NUKEM tokens, they will not be able to unstake them for the following 10 days.
The token address for sNUKEM on both BSC and ETH is:
0x7e17a9a0BB02035354A344a3256997B0137466ae
UNSTAKE - Redeem sNUKEM, get NUKEM
Users will have the option to choose between the STAKE and UNSTAKE interfaces in the right and left upper corners of the STAKE interface, as shown below. The action flow for the unstaking process is the same as for staking but in reverse (Choose sNUKEM amount > Click Approve > Confirm in the wallet > Click Unstake > Confirm in the wallet > Success).
sNUKEM Pool Shares:
Users will be able to see the sNUKEM - NUKEM ratio. As more fees get added to the ERC-4626 sNUKEM vault, 1 sNUKEM token will be worth more than 1 NUKEM. Bear in mind that all revenue generated from borrowing fees (1% of each loan) and a share of all liquidation fees (31%) will be used to buyback NUKEM from the market and distribute these NUKEM rewards for those who staked NUKEM in return for sNUKEM: the increasing value of sNUKEM tokens in comparison to NUKEM tokens!
Do not send tokens directly to the staking contract, they will be lost.
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