Stake here: https://stake.mycelium.xyz/
At Mycelium, we’re committed to providing maximum utility to our $MYC token holders.
We launched MYC Staking to deliver that utility. Millions of MYC tokens have been lent to the Mycelium Treasury, with rewards as high as 269% paid in ETH. When depositing MYC, Stakers are effectively entering a loan agreement with the Mycelium Treasury to start earning rewards.
What is MYC Staking?
MYC Staking gives MYC holders the opportunity to earn ETH rewards on their idle MYC. By depositing MYC into the vault, MYC holders will start earning staking rewards paid continuously.
Key details on MYC Staking are as follows:
- MYC Staking is hosted on Arbitrum, so to participate MYC holders will need to bridge their assets, here is a how to guide
- There are no minimum deposits of MYC. The MYC Staking program is available to all holders big or small.
- Rewards are paid in ETH via the Claim button.
- Currently the program doesn’t have an auto-compounding feature, but is something the team will work towards implementing.
How to start staking?
Participating in MYC staking is simple.
Our team has built a new page on our site stake.mycelium.xyz.
Any MYC holder can participate in MYC Staking, subject to the terms and conditions which are outlined on the interface when you deposit in the vault.
From this page, MYC holders can stake their MYC, withdraw their MYC, or claim their ETH rewards.
Where does the APR come from?
Staked MYC in the vault will earn an interest rate. This interest rate is sourced from 15% of Perpetual Swap fees generated in the previous fortnight of trading volume that goes to the Mycelium Treasury.