HOW TO STAKE YOUR WISE TOKENS (Using the ‘Regular Stake’ option)?
STEP 1: Connect Your Metamask Wallet to the WiseToken Staking platform by Clicking the ‘Connect With Metamask’ Button.
STEP 2: Then type in Your Metamask Wallet Password and Click the ‘Unlock’ button.
STEP 3: Now Hover Your Mouse over the Blue Button (A) to bring up the Dropdown Menu. Then Click ‘Stake Wise Tokens’ (B).
STEP 4: Now Create a ‘Regular Stake’ with Your Wise tokens (you have previously purchased and now in your Metamask Wallet). Click the ‘Create Regular Stake (Wise)’ button.
- Once a Regular Stake is opened, it is in “Pending” status. This means that the stake won’t technically begin until the following day. A user may close a Regular Stake in Pending status, receiving back the stake’s principal, without penalty or interest.
- Pending stakes become “Active” status once the next day begins. At this point, closing the stake before it reaches “Mature” status will incur a penalty!
STEP 5: Here is a blank Regular Staking form. Now it’s time to full it in with the Amount and Duration! Let’s start that with the next step!
STEP 6: Put in the Staking Amount of Wise token that you want to stake (invest). The example below shows 10,000 Wise tokens.
STEP 7: Now Enter the Staking Duration. This is the amount of time in Days or Years you would like to Stake your Staking Amount.
- The minimum stake length is one day, and the maximum stake length is 15,330 days (just under 42 years).
Depending on the length of the stake, a bonus amount of shares will be generated on top of the amount determined by the staked amount of WISE and current share price. This bonus scales linearly from slightly above 0% for a one day stake, to 25% for a 5 year stake, and then to 30% for a 42 year stake (Maximum duration allowable). For example, a stake with a length of 1.5 years will generate 1.5 * 5% = 7.5% bonus shares.
Shares represent interest generating power and not converted back to wise.
STEP 8: If you have used a CM Referrer’s referral link, then the referral address will be automatically populated (shown as light grey text). However, there is a menu with alternatives (shown in image below).
Any Staker using a referral link will get 10% more SHARES when staking WISE tokens!
WHAT ARE STAKE SHARES?
When you create a Stake, your wise tokens are burned and you get Shares based on the Share Price (called ‘Global Share Rate’ (top right in image below). This is currently about 0.11. This share rate goes up slightly each day. So people get less shares for each day they delay setting up their stake/s. This rewards people who stake earlier!
The Total Estimated Shares for a stake is shown below in the Staking Summary column (on the right hand-side). In this example, the 10,000 Wise tokens staked with the addition of the Stake Duration and Referral Bonuses is 104,463.79 Shares (“SHRS” or ‘Global Wise Shares’). Shares entitle you to a proportional amount (in relation to all stakes shares for all stakers) of the daily reward pool (made up of 3% annual inflation and early unstake penalties made by other people).
After stake ends, you will get your burned Wise tokens back Plus you get all the Interest based on the shares you had for the Staking duration period.
STEP 9: You are now ready to Complete the Staking form. Click ‘Create Regular Stake’ (button colour changes to green).
This will cost a little bit of Ethereum to process the Stake on the blockchain (will vary with market conditions and time of the week). Click Confirm on the Metamask Notification form.
Note: You can Edit (in blue font) the gas fee as required to lower the cost (and speed).
Once completed, a confetti shower will appear to celebrate the occasion!
STEP 10: CONGRATS you have now created your Wise Stake!
A real example of a Stake is shown below. It is for 10,000 Wise tokens staked for 1 year (or 365 days). There is a progress bar, number of shares and Interest/APY shown as well.
Each day Wise Interest is paid and accumulated. Click on the Spyglass under actions to claim them at any time (A). This will open up the ‘Stake Historical Summary’ form.
Click the ‘Scraping Interest’ Red Button (B) to claim your Stake accumulated Interest.