How to stake your $IDLE
Governance > $IDLE staking > Guides > How to stake your $IDLE
- 1.Approve the $IDLE staking contract to allow the staking.
- 2.Now you can lock your $IDLE. You should set two variables:
- 1.Lock period duration: from a minimum of 2 weeks to a maximum of 4 years
- 2.$IDLE amount: based on your balance select how many $IDLE you want to lock
- 3.Click on Lock and sign the transaction.
Be careful when approving the spending limit of the staking contract. It's advisable to approve an amount near your current/expected $IDLE balance.
The longer is your staking period, the higher will be the stkIDLE received at the time of locking. For example, by staking your $IDLE for 4 years you will receive back 1 stkIDLE per $IDLE locked (i.e. 100%).
Once locked in your $IDLE, you will start receiving $IDLE rewards and you can claim them using the dedicated action in the idle.finance dashboard.
The dashboard will show your the claimable $IDLE amount and the previous claim calls
Once you have locked your $IDLE, you cannot revert the operation until the lock end date has been reached. You can instead
- Increase Time: increase the locking duration
- Increase Amount: increase the $IDLE locked
Every time, you modify the Time or Amount the APR will be adjusted consequently.