How to earn more rewards with Advanced Staking
Advanced staking is a brand new feature we're introducing to allow you to earn even more rewards on your xUNIC!
While we already allow staking through the UNIC to xUNIC process, we are introducing a new way to earn rewards on Unicly. We call it Advanced Staking.
Advanced staking allows you to lock up your xUNIC for a designated period of time (7, 30, 60, or 90 days) and get a set amount of UNIC or your favorite uToken in return. A proxy farmer will continuously funnel UNIC into the UNIC pool, and uToken holders will supply uTokens to the advanced staking pools in return for a higher reward weight for farming UNIC.
The following outlines the process of creating advanced staking pools, adding rewards, staking your xUNIC to these pools, and harvesting your rewards.
Please note: your wallet must be connected to the Unicly portal in order to do any of these actions.
Create an Advanced Staking Pool and Add Rewards
Staking your xUNIC
Harvest your Rewards and Withdraw
First, navigate to the Unicly portal and head over to the Advanced Staking page. You can do this by clicking on the Farms dropdown, and clicking on Advanced Farms.
Go to Advanced Staking
After going to Advanced Staking, click on the Manage Pool Rewards tab. Your page should look like the following:
Manage Pool Rewards Page
Once you are on the Manage Pool Rewards page, you can search to find the pool you are looking for. Once you find it, it will have a button titled Create Pool if it has not already been created. If it has some other text, then someone has already created the pool! The following is an example:
Create the uJenny pool!
To create the pool, simply click the button Create Pool and follow the steps on Metamask.
Once the pool has been created, the Create Pool button should change to have Approve text instead. Since you are depositing uTokens into this pool, be sure to click Approve and follow the instructions laid out by your wallet provider. After this is done, the text will change to Add Rewards. After clicking on it, a new pop up will show up that looks like the following:
Deposit Rewards pop up
This pop up will allow you to input settings for adding rewards to the uToken pool. The start date and end date allows you to adjust when your rewards get distributed among staked participants. Your rewards will be distributed among the stakers linearly between those two periods of time. Once you enter those dates and the amount you would like to deposit, simply click Deposit and and follow the instructions laid out by your wallet provider.
That's it! You have just created an advanced staking pool for your uToken and added rewards to it for future stakers!
First, navigate to the Unicly portal and head over to the Advanced Staking page. You can do this by clicking on the Farms dropdown, and clicking on Advanced Farms.
Go to Advanced Staking
After going to Advanced Staking, your screen should look like the following:
Advanced Staking Main Page
After navigating to the Advanced Staking page, scroll to the pool that you would like to stake your xUNIC towards. The pool should look similar to the following:
Advanced Staking Pool
After finding your pool, first click the Approve button and follow the instructions laid out by your wallet provider. This will allow you to stake you xUNIC towards that pool.
Once that process is done, click the amount of days you would like to lock up your xUNIC. Currently, you can lock up for 7, 30, 60, or 180 days. After clicking each period, you will be able to see the APY for each specified lock period.
After approving and selecting the lock period you want, you can click the Stake button. This will cause a pop up to show that will allow you to enter the amount of xUNIC you would like to stake. It should look similar to the following:
Stake xUNIC pop up
After entering the amount of xUNIC you would like to stake, simply press the Stake button and follow the instructions laid out by your wallet provider.
Awesome! You just locked your xUNIC! To view more information about your locked xUNIC, visit the My Active Positions of the Advanced Staking section.
Please note: It may take a couple minutes for your position to show up in the My Active Positions section!
First, navigate to the Unicly portal and head over to the Advanced Staking page. You can do this by clicking on the Farms dropdown, and clicking on Advanced Farms.
Go to Advanced Staking
After going to Advanced Staking, click on the My Active Positions tab. Your page should look like the following:
Once you get to the My Active Positions tab, you should see a list of all your current positions. If there is still time left remaining in your position, you will not be allowed to withdraw but you will still be allowed to harvest your rewards periodically!
If you have any rewards available, there will be an Approve button next to the grayed out Withdraw button that you can click for a given position. Click the Approve button and follow your wallet's instructions so that you allow those rewards to be transferred to your account!
After doing so, the button's text will change to Harvest. Click on this button and follow your wallet's instructions to get those new earnings sent straight to your account!
If your locking period is up, you will be able to withdraw your position! If this happens, your My Active Positions page should look similar to the following:
My Active Positions with withdrawable position
All of your positions that are available to be withdrawn will not be grayed out. By clicking on Withdraw and following your wallet's instructions, you will withdraw your entire position and get your xUNIC back!
Last modified 2yr ago