WOO staking
WOO holders can stake their WOO tokens on any supported chain and earn real yields in USDC, which come from 80% of the net fees from WOOFi Swap and Pro (perps trading).
Since the launch of v2, over $5M has been paid out as staking rewards, and the stakers have also enjoyed various airdrops such as $ZRO (LayerZero), $ARB (Arbitrum), $ORDER (Orderly Network), with many more to come.
Check more staking stats at: https://dune.com/woofianalytics/woofi-staking
WOO staking is uniquely designed to incentivize long-term holders and active users through an engaging system that combines NFTs and DeFi.
Stake WOO from any supported chain and get the same yields
Choose to earn yields in USDC or compound them into more staked WOO
Earn XP passively or boost it by being active, increasing your staking APR
Complete quests to earn WOOFi booster NFTs, which can be burned to temporarily boost XP APR
No hard lockup, unstake anytime, but you will burn your hard earned XP
Omnichain staking
Users' combined staking positions, XP, and staking rewards are managed on Arbitrum. With LayerZero integration, you can stake your WOO and compound it on any supported chain for added convenience.
Regardless of which chain you choose to stake your WOO on, the APR at which you earn USDC staking rewards will be the same.
The USDC rewards come from WOOFi protocol net revenue (both swap and perps) - 80% of which are gathered on Arbitrum every Monday and given to WOO stakers over a 7-day period.
Cross-chain transactions require extra gas costs from the source chain to cover Arbitrum's operations. Costs vary based on Arbitrum's current gas fees.
The completion time for cross-chain transactions depends on the source chain and network status. Usually, it takes only a few minutes, but initiating from Polygon can take up to 20 minutes.
XP
When you stake WOO, you earn XP passively at a base APR of 30%. For example, staking 1,000 WOO for one year would earn 300 XP. XP is non-tradable but can be staked to boost your yield. For instance, 1 staked WOO plus 1 staked XP is equivalent to 2 staked WOO. However, when you unstake any WOO, an equal percentage of your staked XP will be burned. Staked XP increase your staking weight and offer perks like access to airdrops, fee discounts, and more.
As stakers accumulate XP over time, there will be additional rules as the XP:WOO ratio increases to avoid too much inflation of XP.
When XP:WOO (staked and pending) >= 0.5, XP APR will be 0 (if none of the challenges are completed)
When XP:WOO (staked and pending) >=1, base XP APR will be halved to 15% in addition to rule #1.
If you stake at least 1,800 WOO, you can boost the APR at which you earn XP up to a maximum of 76.05% by completing challenges that include:
Trade spot on WOOFi Swap (only when sPMM liquidity is used) or perpetual futures on WOOFi Pro
Earning with assets deposited into WOOFi Supercharger vaults
Turning on the auto-compound feature (please be aware that you can’t claim staking rewards while this is enabled and you can’t disable it within 7 days)
The status of each challenge is visible in the top-right corner and your XP APR will update one day after completing any of them. The amount you need to swap/trade and deposit in WOOFi Supercharger vaults to complete the challenges is determined by your staking level.
Quests & Boosters
Boosters are items that can be staked for a temporary boost to your XP APR. After the temporary boost is complete, the items are automatically burned. Boosters are ERC-1155 NFTs (this means they are compatible with many popular DeFi apps and wallets like OpenSea and MetaMask)
Boosters can be acquired by completing quests on the WOOFi Stake page or purchased from NFT marketplaces. There are three Booster rarities: Uncommon, Rare, and Epic. The rarer the Booster, the greater the yield effect. However, the boost effect diminishes as your staking level increases.
Note: XP generated while using Boosters is not removed once your Booster runs out, therefore making them a great way to make sure your staked WOO APR is higher than the average.
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