Pools
One of the numerous ways DeFi allows users to make passive money is by staking tokens for rewards. When a user "stakes" a token, the token is transferred from the user's wallet to the protocol's smart contract. The protocol delivers rewards in the form of reward tokens and additional utility in exchange for this temporary commitment of funds.
PYESwap offers staking pools where you can earn unlock additional utility and rewards by staking your tokens.
A few things to remember regarding PYESwap's Pools:
You may stake an unlimited number of tokens contained in your wallet.
All Pools have a 5-day lock period which resets if additional tokens are staked.
Once unlocked, you can withdraw any or all of your staked tokens whenever you like.
You may harvest your rewards at your convenience.
Staking is similar to putting your money in a bank savings account, only with much higher returns.
When you stake cryptocurrency, you are depositing your tokens into one of the DEX’s smart contracts, and in exchange, you receive reward tokens at a variable interest rate. Once earned you can harvest your rewards, which will then appear in your wallet. You may add or remove your staked tokens from the smart contract at any time after the 5-day lock period.
NOTE: While staked in a smart contract your tokens will no longer appear in your wallet, but will be visible by connecting your wallet to the DEX.
How to Stake Tokens in Pools
Connect your wallet with PYESwap. (Click here to see how)
Go to the Pools section
Choose the Staking Pool you want to utilize.
Select Enable, then confirm your wallet transaction
Select the PYE Stake option by clicking the + symbol.
Enter the desired quantity of tokens to the stake, then confirm the transaction in your wallet.
Once approved, the transaction will be sent to the network for processing. Though this usually takes only a moment, when the network is in high demand, transactions can take much longer to complete.
Once the transaction completes, the tokens will be removed from your wallet and will now be displayed as Staked on PYESwap. Congratulations, you're now earning!
NOTE: When adding tokens to a Pool you are already staked in, any available rewards will be harvested automatically as part of the transaction. There is no additional gas fee incurred for this action.
How to Harvest Rewards
You can harvest your staking rewards at any time, though you must harvest the full amount.
Open the Earn menu and select Pools. Ensure your wallet is connected to the DEX (see Connecting Your Wallet).
Find the staking option containing the rewards you wish to harvest, and open it by tapping the Details on the right side. Both the quantity of tokens and their value are displayed.
Tap the Harvest button.
You will then be prompted by your wallet app to approve the transaction and the associated transaction fee (paid with Binance SmartChain BNB).
Once approved, the transaction will be sent to the network for processing. Though this usually takes only a moment, however when the network is under high demand transactions can take much longer.
When complete, the reward tokens will be removed from the smart contract and deposited in your wallet.
How to Unstake From Pools
You can remove all or part of your staked balance at any time, doing so will automatically harvest any outstanding rewards and send the total to your wallet.
Open the Earn menu and select Pools. Ensure your wallet is connected to the DEX (see Connecting Your Wallet).
Find the staking option you would like to unstake, and open it by tapping the Details on the right side.
Tap the - symbol
Enter the amount of the token you would like to unstake. Your total staked balance is listed on the right side of the pane. You can also tap the Max button if you intend to withdraw your full balance.
Tap Confirm.
You will then be prompted by your wallet app to approve the transaction and the associated transaction fee (paid with Binance SmartChain BNB).
Once approved, the transaction will be sent to the network for processing. Though this usually takes only a moment, when the network is in high demand, transactions can take much longer.
When complete, the staked tokens and all your rewards will be removed from the smart contract and deposited back in your wallet.
NOTE: When removing tokens from a Pool you are already staked in, any available rewards will be harvested automatically as part of the transaction. There is no additional gas fee incurred for this action.
Claiming Rewards
Each pool has an APR displayed next to it on the Pools page. This is the number of reward tokens that will accrue while your input tokens are staked, represented as a percentage of the total quantity of staked input tokens at current rates.
The more tokens you stake into a pool and/or the longer you leave them staked, the more reward tokens you'll earn assuming all other parameters stay constant.
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