Staking $WILD provides a new way to encourage ongoing community participation by allowing token holders and liquidity providers an opportunity to earn yield by staking tokens. The Staking Portal is a beta version, which will act as the foundation to eventually offer more opportunities to earn and stake eligible Wilder World NFTs.
Read more on staking in the below Zine
Check out the Wilder World Staking Portal here
WILD Staking 🥩
In single staking, $WILD tokens are deposited onto the Wilder World staking portal and rewards are progressively earned in $WILD. Your initial investment is not locked, and you are free to make as many $WILD deposits and withdrawals as you wish.
Once your $WILD tokens are staked, you can view your rewards by connecting your wallet to the portal and accessing the ‘My Deposits’ page. $WILD rewards can be claimed anytime, but bear in mind that each claim transaction will incur gas fees. Once your $WILD reward tokens are claimed, they are locked in the staking pool for a period of 12 month and are thereby compounded.
LP Staking 👨🏻🌾
In LP staking, liquidity is provided to the pool by staking equal values of WILD and WETH. When pairing these assets on Uniswap, you will receive LP tokens which act as a receipt of your deposit in the pool. These LP tokens can then be staked on the Wilder World platform to earn rewards. As with single staking, the reward for LP staking is paid in $WILD. Once claimed, the rewards are locked in the $WILD staking pool for a period of 12 months.
LP tokens provide proportional ownership of the pool, which is defined by the ratio of relevant LP tokens you own against the total number of relevant LP tokens currently in existence. LP staking offers higher APR than single $WILD staking but with increased risk due to the potential impermanent loss. Impermanent loss occurs if the balance of your pair is disrupted and the value of one token changes against the other. Learn more about impermanent loss here.
How to Stake for the First Time 🏦
Step 1: Go to the Wilder Staking site <https://staking.wilderworld.com> and open up the page.
Step 2: Once on the Staking Portal page, you need to connect your wallet. There are two ways to connect your wallet. You can either click the “Connect” button at the top right of the page or “Connect Wallet” button in the center of the staking portal.
Step 3: Once your wallet is connected, you will be able to choose between two tabs on the top left of the portal, which are “Pools” and “My Deposits.” Click into the “Pools” tab.
- The “Pools” tab includes the available staking pools you are able to participate in.
- The “My Deposits” tab includes all of the individual deposits that are tied to the connected wallet address. You will be able to see details like “Date Staked,” “Amount” and “Unlock Date.” Clicking on the three vertical dots on the line item will open up options to “Unstake Deposit,” “Claim Pool Rewards,” and “Stake in Pool.”
Step 4: Once in the “Pools” tab, choose the line item you’d like to stake by pressing the “Stake” button on the far right.
Step 5: An information card will pop up to help define staking variables. Enter the amount you would like to Stake and press the “Stake x# WILD” button at the bottom of the card.
Step 6: If it is your first time staking in the pool, you will have to Approve Pool Spending, a request. Press “Continue” to approve pool spending.
Step 7: Since this is your first time staking you will need to give permission for the Staking Portal to access your WILD. To approve the interaction, press “Confirm” on the bottom left of the browser screen. This will incur a one time transaction fee.
Step 8: To complete the staking process, you will need to approve one more transaction in order to interact with the blockchain. To approve the transaction, click “Confirm” on the bottom ride side of the pop up. This will incur an additional gas fee.
Step 9: Once your transaction has been approved for staking, you will see a confirmation banner on the pop up screen that confirms the amount of WILD successfully staked. Click “Back” to go back to the main page and review “Pools” and “My Deposits.”
Step 10: Congrats! You’ve staked $WILD! Check your “My Deposits” tab to view the details of the pool, APR, Your Total Stake, and TVL.