How To Use the Splyt Reserve: Mag Park Staking Pool 2

Lost Midas
Sep 8 · 6 min read

This article outlines how to use the Splyt Reserve: Mag Park Staking Pool 2, which includes to how enter for a chance at 1 of the 50 new Mag Park VIP Membership Program spots! Let’s start with an overview of the user interface.

Check it out here: https://dapp.splytcore.org/reserve

  • The countdown timer displays the duration of each period. Click the timer to display the number of blocks remaining or the estimated time. The countdown timer is based on block time, so the duration of each period is subject to network congestion.
  • Click the APY button to see how much SHOPX you can earn per 100 SHOPX staked over different timeframes.

The Staking Pool Dashboard displays your:

  • Total Balance = The total balance of your account (stake + rewards)
  • SHOPX Staked = The current number of SHOPX you have staked
  • SHOPX Earned = The current number of SHOPX you have earned
  • Click the Connect Wallet button. Make sure your wallet is connected to the Ethereum Mainnet. We currently only support MetaMask, but plan to add support for additional wallets in the future.
  • The Connect Wallet Modal will appear.
  • Click the Connect MetaMask button.
  • Click the Next button in MetaMask (MetaMask is not shown in this article).
  • Click the Connect button in MetaMask.

Before staking, make sure you have MetaMask installed, you have ETH to pay for transactions fees, & you have SHOPX to stake.

You can only stake during the Staking Period! Trying to stake before or after this period will not work (the buttons will be disabled).

  • Click the Stake button.
  • The Stake SHOPX Modal will appear.
  • Enter an amount to stake (click the Max button to stake your entire SHOPX balance).
  • Click the Confirm button.
  • The Waiting for Confirmation Modal will appear. Staking tokens requires 2 transactions: one to approve your SHOPX & another to spend your SHOPX. Approving tokens allows the smart contract to validate how many SHOPX you have. You are also allowing the smart contract to transfer the number of allowed tokens (called an allowance) when an action is executed on the contract.
  • Click the Confirm button in MetaMask to approve your SHOPX. You will need to do this every time you stake.
  • Click the Confirm button in MetaMask to spend your SHOPX.
  • The Transaction Submitted Modal will appear. Wait for the transaction to settle on the blockchain. Keep in mind that this can take anywhere from a few minutes to a few hours (please note this is outside our control & is contingent on network activity & the amount of gas used to pay for the transaction).
  • The Transaction Complete Modal will appear.
  • Click View transaction to view the transaction on Etherscan. Etherscan is a tool to help you view data regarding pending or confirmed transactions on Ethereum.
  • Stake over 100 SHOPX. If not, the Insufficient Balance Modal will appear.
  • Click the Enter to Win! button. This button appears in 2 places on the user interface: on the Transaction Success Modal & at the bottom of the Staking Pool Dashboard.
  • The Mag Park VIP Member Modal will appear.
  • Enter your first name, last name, & email.
  • Click the Enter button.
  • Click the Sign button in MetaMask (there is no fee associated with this transaction).
  • The Mag Park VIP Success Modal will appear.
  • After successfully entering, the button will update to say Thanks for Entering! & will be disabled as you can only enter one time.
  • Click the Unstake button. All withdrawals are subject to a 0.1% unstaking fee, no matter how long your SHOPX is staked, which applies to the Total Balance.
  • The Unstake SHOPX Modal will appear. You can only unstake your Total Balance (you are currently not allowed to unstake a portion of your balance).
  • Click the Confirm button.
  • Click the Confirm button in MetaMask.
  • The Transaction Complete Modal will appear.
  • Click View transaction to view the transaction on Etherscan.

We currently do not support staking on mobile devices, although we are working on a solution to enable this feature.

We are super excited to launch the Splyt Reserve: Mag Park Staking Pool 2! Thank you for your support & sticking with us as we pave the way for better digital commerce.

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