Staking Overview

How it works and what to expect

INFO - Staking has ended on the 31st of October 2024. You can still claim any staked tokens and rewards. The dashboard is now exclusively used for $MK for the game.

Locking Period (no longer active)

The $MK project introduces a locking period mechanism designed to enhance the project's financial stability and reward committed participants. With a significant Annual Percentage Yield (APY) on staked tokens, the locking period feature plays a pivotal role in aligning user behavior with the project's long-term prosperity.

How It Works:

A 10-day locking period is applied to a user's staked $MK tokens. This timeframe is selected to provide a balance between rewarding users and maintaining token supply predictability. The locking period is reset to 10-days from the time of any action that changes the user's staked balance, including:

• Staking more $MK tokens

• Partial withdraw of staked tokens (less than 100%)

Automatic Claiming upon Withdrawal:

A unique feature of our staking protocol is the automatic claim function during a withdrawal. When a user decides to withdraw any amount of their staked $MK tokens, any unclaimed rewards are automatically claimed to the users $MK wallet in Meme Kombat (Not their DeFi wallet).

Example Scenario:

If a user chooses to withdraw 100 $MK from their staked balance of 500 $MK, and there are 50 $MK in unclaimed rewards, the following occurs:

• The 50 $MK rewards are claimed and automatically added to their $MK wallet (Not their DeFi Wallet).

• The users 100 $MK that was staked is added to their $MK wallet (Not their DeFi wallet).

• The total staked amount is now 400 $MK and a new 10-day locking period applies to the remaining staked balance from the time of withdrawal.

• The users $MK wallet balance has increased by 150 $MK (100 that was unstaked and 50 that was unclaimed rewards).