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How to Stake ORCA as xORCA
Once you've accumulated some ORCA, regardless of the method you acquired it, it can be staked for protocol revenue rewards, via xORCA. Important to know front that there are NO OrcaDAO fees for any part of the staking/unstaking process.
To stake, follow these steps:
Navigate to the Stake Page:
Once there, on the left side of the stake window, under Deposit Amount, enter the number of ORCA you wish to stake:
First the window will ask you to Approve with Metamask your intention to deposit ORCA to be staked:
Metamask will prompt you to approve the application staking your ORCA. (You will only ever need to do this part once) Once it has done so and you have approved it via MetaMask, the Deposit button will now light up, ready to accept. Simply type the amount you wish to deposit (or hit Max), and click Deposit.
This will prompt Metamask again, for the deposit confirmation. Confirm, and the balance you intend to stake will transfer over to the staked xORCA portion:
xORCA Ratio:
xORCA works as an iterative ratio of ORCA. As revenue is rewarded to staked ORCA holders, the ratio of xORCA to ORCA will increase.
In other words, the longer you have your ORCA staked as xORCA, the better your ratio of xORCA to ORCA will be. This means more ORCA that you will receive in return when the time comes to unstake your xORCA back into ORCA, you will receive your portion back, at no fee, plus the additional ORCA that staking rewards will have provided.
Revenue is distributed every 48 hours, so you will see your ratio of xORCA to ORCA improve every 48 hours.
How to Withdraw Staked ORCA
To withdraw, simply go through the same exercise as above (and without needing to approve first), on the right side of the window and screenshot above, clicking the Withdraw button instead.
That's it, your ORCA has been staked into (or out of) xORCA and you are now the beneficiary of Protocol Revenues!
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Last modified 6mo ago
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