🌱Staking

Staking in Lucidao allows users to lock up their LCD tokens in the protocol to earn rewards. This process is crucial for both the longevity of the protocol and to benefit long-time holders.

Benefits for Users

1. Earn Rewards: Users earn a base APR on their staked tokens, which can be boosted by staking for longer period of time. The longer you stake, the higher the potential rewards.

2. Protocol-wide Benefits: Stakers can unlock exclusive benefits and opportunities tailored to their needs, enhancing their experience and maximizing returns. These benefits follow a tiered system, providing increasing advantages as you stake more:

How to Get Started

1. Ensure You Have Tokens: Make sure you have LCD tokens in your wallet and enough MATIC to cover gas fees.

2. Visit the Staking DApp: Go to the staking DApp.

3. Connect Your Wallet: Connect your wallet to the DApp.

4. Approve Staking: Approve the staking contract to spend your LCD tokens.

5. Enter Staking Amount: Enter the amount of LCD tokens you wish to stake.

6. Confirm Staking: Confirm the staking transaction in your wallet.

By participating in staking, you contribute to the security and efficiency of the Lucidao protocol while enjoying the rewards and benefits that come with it.