Single sided $FODL staking allows you to gain rewards on your existing $FODL holdings by locking the tokens in the xFODL staking contract. The staked amount of $FODL will be converted into xFODL, the derivative token in which rewards are reflected. xFODL is redeemable at any point in time and is made up of your principle + staking rewards.
Let’s walk through the process of staking $FODL:
- Connect to the FODL mainpage at https://fodl.finance and select the Staking tab
2. On the Staking tab you will see an overview of different types of staking options. Currently, the single sided staking option is only visible after connecting your wallet so let’s do that now. You can connect through Metamask directly or through Walletconnect
3. Under the “Stake FODL’ window select the amount of FODL you would like to stake and it will convert into xFODL. Use this same window when you would like to unstake your xFODL. Your principle and rewards will convert back into $FODL and reflect in your wallet.
That’s it! Sit back and enjoy the passive income you are earning by staking $FODL!