Locking $XDEFI in our staking application will return you an XDEFI Badge in the form of an NFT which actually represents your staking position. The rarity of the NFT and the rewards are based on the number of tokens you decided to stake and the amount of time you are locking your tokens for. Staking your tokens will earn you $XDEFI rewards and many additional benefits in the future.
The higher the number of tokens you stake and the longer the lock period, the higher the rewards. Over a period of 6 months, we are rewarding stakers with 7,200,000 $XDEFI. The first tranche of rewards will be distributed on Monday 7 March at 2 pm UTC. Subsequent tranches will follow every 6 hours over the following 6 months.
We also created a tool for you to estimate your APR based on the amount of $XDEFI staked and the lock-up period you choose: $XDEFI Staking APR Calculator
In a recent article, we have also already explained the underlying objectives and inner workings of our NFT-powered staking model in detail, so make sure to check it out before you proceed.
Video: How to stake your $XDEFI tokens
We created a video that shows the whole staking process end-to-end and below you can also find a written description of every single step.
YouTube Video: “How to stake your $XDEFI tokens”
A step-by-step guide to staking $XDEFI
Step 1: If you decided to stake and earn $XDEFI, the first step is to open your XDEFI Wallet, and click the “Stake” button next to the $XDEFI that you hold. If you do not see this button, please make sure that you updated the XDEFI Wallet browser extension.
Step 2: Clicking on “Stake” will open our staking interface at https://staking.xdefi.io (of course you can also just enter the respective URL in your browser).
Now you need to connect your wallet to the staking application, which you can do by clicking “Connect” at the top right.
Step 3: The staking application now shows your $XDEFI Wallet balance on the left side and lets you choose the amount of $XDEFI that you want to stake and select the duration of the lock period.
Step 4: After you decided on the number of tokens you want to lock (in our example “100 $XDEFI), you can choose between five different lock periods:
- 15 days
- 30 days
- 45 days
- 60 days
- 75 days
Step 8: After you staked your $XDEFI tokens successfully, you received your XDEFI Badge — an NFT (non-fungible token) on the same Ethereum address. The tier level of the XDEFI Badge is dependent on your staking score (credits), based on the following formula: “Credits = amount staked * lock-up duration.”
In the near future, stakers will be able to consolidate all their existing bXDEFIs to achieve the highest possible credits and tier.
The tier levels for XDEFI Badges are as follows:
For more details on how XDEFI Badges work, please check our explainer article.
You can find the XDEFI Badges collection on OpenSea here: https://opensea.io/collection/xdefi-badges