Staking your $MK

Step-by-Step Guide to Staking your $MK Token

Initiating Staking

Determine the quantity of $MK tokens you intend to stake. You can opt to:

  • Use the "Max" option to stake all the $MK tokens in your wallet, or

  • Enter a specific amount of $MK tokens for staking.

Approving the Staking Transaction

First, approve the staking transaction by clicking "Approve", this is a blockchain transaction, incurring a gas fee. This is because the tokens currently exist in your wallet and you are attempting to approve a transfer of them to the Meme Kombat ecosystem.

Confirming the Staking on the Blockchain

Proceed to confirm the staking on the blockchain by once again clicking "Stake Now". This is also an on-chain confirmation, which is a transaction that will require a gas fee. Make sure to ensure your wallet has enough ETH to cover the gas fee.

Reward Claiming

While your tokens are staked in Meme Kombat you will begin to earn rewards. As they accumulate you can claim them at any time without paying a network fee since tokens inside the $MK staking dapp are managed in our off chain ecosystem. See Reward Claiming for more information on this.

Commencement of the Lock Period

With the staking transaction confirmed, your tokens (including newly claimed rewards) will now start immediately accruing APY. All staked tokens will be locked for a 10-day period, during which time you cannot un-stake them.

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