DFD v2 Staking Guide
Stake DFD to earn protocol revenue!
DefiDollar Finance has a number of products under its umbrella which earn income for the protocol. To reward our long term stakeholders we have decided to share fees being generated from ibBTC with the community.
It works in a simple manner, we run a script to calculate the amount and duration for which tokens were staked for each user and then ibBTC fee collected during the week is distributed pro-rated to the stakers.
In this guide you will learn how to stake DFD to get a share of the protocol revenue. To get familiar with the interface visit the Staking page on the app: https://app.dusd.finance/staking
This opens up the staking v2 page.
Please note that if you have DFD already staked in the v1 you will have to migrate it to v2 using the migrate link displayed on the app. Your balance on the v2 Page will be displayed as zero before you migrate.
We are two possible cases here where you are:
- Staking DFD for the first time
- Migrating Staked DFD from v1 to v2
Staking DFD for the first time
1. Visit the Staking page on the app : https://app.dusd.finance/staking and connect your wallet.
2. Enter the amount of DFD tokens that you want to Stake.
3. Click Stake
A pop up opens up asking for permission to approve your DFD before staking.
Click on Confirm
Once the transaction is approved and mined on-chain you will see the following window
Click on Confirm to finish the staking process.
On completion you will see a message stating that you have staked successfully :)
Congratulations you have now staked successfully in the DFD v2 Staking vault! 🎉🎉
Migrating Staked DFD from v1 to v2
- Visit the Staking page on the app : https://app.dusd.finance/staking and connect your wallet.
- If you have staked in v1 you will get a message prompting you to migrate your staked DFD to Staking V2 contract. Click on that link.
- You can now see your v1 staked amount
You have now the option to migrate this staked DFD from v1 to v2!
Please note that migrating from v1 to v2 does not incur any fee.
You also have the option to Unstake in case you do not want to earn protocol rewards. Don’t think anyone would use this tho ;)
Click on Migrate
In the Metamask window Click on Confirm and continue with the migration
Once the transaction is mined you will see the message confirming it
