HOW TO: Accelerated Bonding & Accelerated Staking
Greetings FHMily!
FHM and Balance ecosystem are excited to release Accelerated Bonding and Accelerated Staking to the community. As you may know, based on FIP-0005 Staking Amendment Proposal, FHM is modifying the rebasing structure as it moves to a more deflationary token structure and away from the OHM model.
In this article, we provide a step-by-step guide to using both the Accelerated Bonding and Accelerated Staking directly from our website https://app.fantohm.com/.
The walkthroughs are divided into two independent topics:
- ⚙️ How to Buy Accelerated Bonds
- ⚡ How to Perform Accelerated Staking
Spoiler Alert: The steps to accelerate your growth with FHM and Balance are fairly simple ;-)
Topic 1: How to Buy Accelerated Bonds
Accelerated Bonds are like (4,4) Bonds that allow buying FHM tokens from a variety of assets. But there are some key differences -
- Accelerated Bonds have the vesting period of just 2 rebases, instead of conventionally 5 days
- Buying Accelerated Bonds allows investors to own wsFHM directly, instead of FHM or sFHM tokens
- On the expiration of the vesting period, Accelerated Bonds enable Accelerated Staking directly from the same app through Move operation.
Let us now see how to buy and then move wsFHM through Accelerated Bonding.
Step 1:
Go to the FHM app https://app.fantohm.com/
Connect your MetaMask wallet and ensure you are on Fantom Opera Network.
Click Accelerated Bonding from the Left Menu Panel as shown in the screenshot below.
Step 2:
Say you want to buy wsFHM bonds with DAI. Click the corresponding Bond button.
Step 3:
A popup screen to buy Bond will appear like the screenshot below.
Provide the number of DAI tokens to buy the Bonds with. In the example screenshot above, we are buying 500 DAIs worth of wsFHM available to us after 2 rebases.
The app also provides estimates on how many wsFHM tokens you will receive.
Step 4:
Click the Bond button.
Confirm the transactions. Make sure you have a tiny bit amount of FTM tokens in your wallet to cover gas fees.
That’s it.! After 2 rebase periods, you will have wsFHM tokens.
Optional Step 5:
After claiming your wsFHM tokens on the expiration of the vesting period, you may Move wsFHM to the stake pool and perform Accelerated Staking directly from the same app.
To do that click on the Move tab and then the Move button as shown in the screenshot below.
Now, you can earn high APYs through 30-day locked Accelerated Staking.
If you have further questions, please do not hesitate to comment below or reach out on our Discord, Telegram, and other social channels.
Topic 2: How to Perform Accelerated Staking
Accelerated Staking enables investors who take part in the current model of staking to receive less when compared to previous rewards, while rewarding users who choose to lock their staked tokens in 30-day increments with the full amount of FHM’s calculated APY.
Let us now see how to perform Accelerated Staking on the FHM app.
Step 1:
Go to the FHM app https://app.fantohm.com/
Connect your MetaMask wallet and ensure you are on Fantom Opera Network.
Click Accelerated Staking from the Left Menu Panel as shown in the screenshot below.
Step 2:
A popup screen to stake will appear.
If you are using the app for the very first time, you may have to approve the contract. Click the Approve button to do so before using Accelerated Staking.
Provide the number of wsFHM tokens you want to stake.
If you do not have wsFHM tokens, but instead have sFHM, use the wrapping feature on https://app.fantohm.com/#/wrap to wrap sFHM tokens.
In the screenshot below, we have provided 2 wsFHM tokens.
Step 3:
After providing the wsFHM tokens, click the Lock 30-Days button to stake your tokens. Make sure to hold a tiny bit amount of FTM tokens to approve the transactions on MetaMask.
That’s it. You can now earn higher rewards with the actual APYs.
If you have further questions, please do not hesitate to comment below or reach out on our Discord, Telegram, and other social channels.
Optional Step 4:
In an event where you want to withdraw your wsFHM tokens before the 30-day locking period, you may do so by clicking on the Unstake tab and then Unstake any amount of your wsFHM tokens.
If you are performing this action for the first time, make sure to approve the contract first on your MetaMask by clicking the Approve button.
Note that withdrawing wsFHM tokens before the 30-days locking period incurs the high fees of 30% of your staked wsFHM tokens.
About FHM, USDB, and Balance
The Balance Organization is formed to administrate business development in service to the greater vision of the interplay between FHM and USDB. As such, profits from all ventures engaging USDB as a commercial exchange of value will be used to buy back and burn FHM in order to increase our deflationary velocity at a rate tied to our business success in product developments.
Find us on our channels to get in touch and join the community.
