⛏️Staking
Last updated
Last updated
Staking SDAO is the basis of the whole protocol. The top stakers (holders of dSDAO) are The Guardians, who are able to submit proposals, either for their own projects, or on behalf of others. When a proposal for a project is successful, 30% of investment profits will buyback $SDAO and burn, 70% of investment profits will be distributed to stakers of $SDAO. The more active the Guardians are, and the more engaged the community are with voting good proposals through, the more rewards end up sent to stakers, and returns are higher.
Staking $SDAO is a simple process. Navigate to the "Stake $SDAO" page on the SincereDogeDAO App (sinceredogedao.app). From here, enter the amount of $SDAO you wish to stake, Approve the transaction, and then complete the Deposit transaction. You will then see you have a balance in dSDAO instead of $SDAO.
To unstake your $SDAO, click the "Withdraw" button, and confirm the transaction in your wallet. Your dSDAO will be converted back to $SDAO, alongside any unclaimed rewards.
