Staking
What does staking mean?
Staking a token is the process of actively participating in a blockchain network by locking up your cryptocurrency tokens for a specific period of time in exchange for rewards.
It's similar to depositing money in a high-yield savings account but in the crypto world.
When you stake tokens, you commit digital assets to support the network's operations, security, and transaction validation processes.
In return for this commitment, you receive rewards in the form of additional tokens, typically expressed as an Annual Percentage Yield (APY).
The longer you lock your tokens and the more you stake, the higher the potential rewards you can earn.
However, it's essential to understand that staked tokens are usually locked and cannot be withdrawn until the staking period ends.
This strategy is best suited for those who plan to hold their tokens long-term and are comfortable with the temporary lack of liquidity in exchange for passive income generation.
How to stake $WSDM?
Staking $WSDM tokens is like earning interest on a savings account. When you stake your tokens, you lock them for a specific period and earn rewards in return. The longer you stake, the higher your potential rewards!
Before You Start
Let's make sure you have everything ready:
Essential Requirements
WSDM Tokens: These are the tokens you'll be staking
If you don't have WSDM yet, you can purchase them from supported exchanges
Make sure to transfer them to your Web3 wallet after purchase
Web3 Wallet: You'll need a cryptocurrency wallet that supports Web3
Popular options include Trust Wallet and Ledger
Important: Install both the wallet app AND its browser extension
The browser extension is crucial for connecting to the staking platform
MATIC Tokens: These are needed for transaction fees on Polygon
Keep a small amount of MATIC in your wallet
You can buy MATIC from most major cryptocurrency exchanges
Step-by-Step Staking Guide
1. Accessing the Platform
Open your browser with your wallet extension installed
Visit staking.wisdomise.com
Take a moment to ensure you're on the correct website (check the URL carefully!)
2. Connecting Your Wallet
Click the "Connect wallet" button in the top right corner
Select your wallet from the options shown (Trust Wallet, Ledger, or WalletConnect - IMPORTANT: You better already have their browser extensions installed!)
Your wallet will ask for permissions:
View your wallet balance
Request transactions
Don't worry - it won't move funds without your approval!
Click "Connect" to proceed
3. Understanding the Dashboard
Once connected, you'll see several essential sections:
Overview Section (Top of Page)
Total $WSDM Staked: Shows how many $WSDM tokens are staked by all users
Total Value Locked: The total value in USD of all staked tokens
Your Stake: Will show zero until you make your first stake
Your Total Rewards: Will show your earnings after staking
Staking Pools (Below Overview) Each pool shows different options for staking:
Short-term pools (30-90 days): Lower rewards but shorter lock time
Mid-term pools (180-365 days): Balanced rewards and lock time
Long-term pools (730 days): Highest rewards for the longest commitment
4. Choosing Your Staking Pool
Consider these factors when selecting a pool:
Lock Period: How long you're comfortable locking your tokens
Reward Rate: Higher rates for longer lock periods
Pool Capacity: Make sure the pool isn't full
Your Investment Goals: Match the lock period to your strategy
Available Options:
30 days: 10.52% APY (best for trying out staking)
90 days: 16.18% APY (good short-term option)
180 days: 20.08% APY (balanced choice)
365 days: 28.39% APY (higher rewards)
730 days: 32.03% APY (maximum rewards)
5. Staking Process
Click on your chosen pool
In the sliding panel that appears:
Enter how many $WSDM tokens you want to stake
Or click "MAX" to stake all available tokens
Review the details:
Lock period duration
Expected reward rate
When your tokens will be unlocked
Complete the two-step process:
First, click "1. Enable" (this permits the contract)
Then click "2. Deposit" (this stakes your tokens)
Note: You only need to Enable once, but Deposit for each stake
Confirm both transactions in your wallet when prompted
6. Monitoring Your Stake
After successful staking:
Your stake amount will appear in "YOUR STAKE"
Rewards will begin accumulating
You can track everything in the "Staked Pools" section
Remember: Your tokens are locked until the end of the chosen period
Important Tips
Start with a small amount if you're new to staking
Make sure you understand the lock period - you can't withdraw early
Keep some MATIC for future transactions
Always double-check numbers before confirming transactions
Need Help?
If you run into any issues:
Check your wallet connection
Verify you have enough MATIC for fees
Make sure you're on the Polygon network
Contact support through official channels if needed
Safety First!
Only use the official staking.wisdomise.com website
Never share your wallet's private keys or seed phrase
Verify all transaction details before confirming
If something seems wrong, double-check everything before proceeding
Remember: Staking is a great way to earn rewards on your WSDM tokens, but take time to understand the process. Don't rush, and make sure you're comfortable with each step before proceeding.
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