DU$T Staking is Live
Fans of the popular chat platform Telegram can now mine additional DU$T tokens when chatting in DU$T enabled rooms by staking their owned DU$T to the specified wallet address. Let’s take a look at how it works:
Open your browser and go to https://dustismagic.com/
Log in to your Anchor or WAX Cloud Wallet by clicking the appropriate button.
Once you are logged in, your wallet address will be displayed in the grey box. The dropdown list displays various WAX Block Producers for you to choose from.
The Wallet section shows your current DU$T balance. If you needed to transfer DU$T to someone you could do that here (rather than going to the WAX Cloud Wallet site or bloks.io).
The Rewards section of the page gives you three pieces of information:
1. DU$T that you have mined in the past 24 hours. This DU$T will roll over to the Unclaimed row once per day at a pre-determined time.
2. DU$T that you have mined that is ready to be claimed. Clicking the “Claim Reward” button will transfer the balance to your WAX wallet instantly.
3. Staking DU$T applies a multiplier to your current mining amount. For example if you typically mine 10 DU$T per message, if you are the #1 staker you would mine 20 DU$T per message (see DU$T Stake Rank below for further information). Unlike Mined DU$T, this amount will be automatically added to your current Staked balance when claimed.
Prior to claiming your rewards, take a look at the Hopper section. This will let you know if there is enough DU$T available in the dispensing wallet to distribute your claim. The Mine Reward value is the most important balance to check as the other two only pertain to players of the text-based game Nifty Wizards.
The Stakes section displays your currently staked DU$T. Here you can
1. Stake DU$T
2. Unstake DU$T (note the unstaking procedure below).
To begin earning DU$T rewards you must first stake to the correct address (stake.dust).
The Unstake section of the page shows the availability of any unstaked DU$T you have. 25% becomes available to claim every 7 days with 100% becoming available after 28 days. Simply click the “Claim Unstake” button to have the available DU$T transferred back to your wallet.
We have now added a “Restake” button which allows you to instantly restake your DU$T with no waiting period. However, if you don’t restake all pending DU$T, the waiting period will be reset to 7 days for the remaining Pending Unstake amount.
Clicking “Stake Rank” at the top right of the page takes you to the staking leaderboard. Here you can see who is the King or Queen of DU$T.
- Is the ranking from 1 to 50.
- Is the address that staked the DU$T
- Is the mining multiplier that is added to that person’s DU$T mining earnings for every message sent in a DU$T enabled Telegram room.
Multipliers are given to the top 50 stakers and will range from 100% for the #1 staker to 11% for the #50 staker.
Anyone beyond rank #50 that stakes more than 50,000 DU$T will be given 3% multiplier.
4. Is the amount of DU$T that the person staked to stake.dust.
Have questions? Inquire here: https://t.me/magicdustcrypto
Article written by Subterranean on behalf of the Wizards Guild and the Magic DU$T team.
