Instructions on how to stake your WOO with WOOFi
WOOFi shares 80% of all swap fee revenue with stakers of the WOO token.
To begin accumulating rewards, you'll first need to move your WOO onto one of the following blockchains supported by WOOFi Stake:
- Polygon PoS
- BNB Chain
There are multiple ways to move your WOO across chains, but we recommend swapping cross-chain with WOOFi as it is the fastest and easiest method.
choosing your chain
Enter the number of WOO tokens that you want to stake in the input field (red) or just click the wallet icon (orange) to stake all of the WOO in your wallet. The stake button will light up - click it and approve the transaction.
staking your WOO
Your total staked WOO (green) will update shortly after the transaction completes. Congrats, you are now passively earning USDC rewards and multiplier points (MPs). Your total rewards earned and the APRs at which you are earning USDC and MPs are all displayed in a row (pink).
track your rewards
Track the USDC rewards and MPs you've earned in the section marked yellow. You can claim these USDC rewards at any time by clicking the claim button or convert them into more staked WOO using the compound button.
how to claim and compound
If you want WOOFi to automatically swap your USDC rewards into WOO and stake them every day, turn on auto-compound. Note: you won't be able to claim staking rewards while auto-compound is enabled.
how to auto-compound
You automatically earn MPs at 50% APR. Each MP that you stake counts as one WOO token and will increase your daily share of all WOOFi swap fees. You can stake MPs manually via the compound button, or automatically by turning on auto-compound. Your total staked MP will appear in the area marked pink.
To increase your share of WOOFi revenue, you can complete challenges that will boost the APR at which you earn MPs to a maximum of 109.85%. These challenges include:
- Swapping on WOOFi (1.3x)
- Maintaining TVL in WOOFi Supercharger vaults (1.3x)
- Enabling auto-compound (1.3x)
how to earn more MPs
The 30-day trading volume and TVL thresholds required to activate your MP boosts are dictated by your WOOFi staking tier. The more WOO you have staked, the more volume you'll need to swap, and the more assets you'll need to keep deposited.
WOOFi staking tiers
You can unstake any amount of WOO at any time, but please note that you will lose an equal percentage of MPs. Click the unstake button, specify the amount you wish to unstake, and confirm the transaction in your wallet.
how to unstake your WOO