Staking refers to the process of transferring funds from your personal wallet to the protocol contract. This can only be done with the native token of the Minterest platform, known as MNT. To acquire MNT, you must purchase them on a cryptocurrency exchange or decentralised exchange (DEX).
To start staking, navigate to the "MNT rewards" section on your "Dashboard" page and click the "Stake" button. Then, enter the amount you wish to stake from your wallet and submit the transaction. Once the transaction is confirmed, your staking will be registered, and you can view your staked balance in the "MNT rewards" section. Please note, that During Private Launch MNT is not liquid and cannot be manually staked. However, rewards accrued from supplying/borrowing are automatically staked. Additionally, any MNT unlocks for users who participated in the LBP will also be automatically staked.
Staking MNT tokens allows you to earn governance rewards also known as buyback rewards, which are calculated based on your share of the entire buyback pool amount (weight). Your share consists of both staked tokens and all earned claimable tokens. By staking MNT tokens, your total share count increases much faster than through organic rewards from lending or borrowing.
Minterest's unique buyback program distributes all fees generated from the protocol back to users, leading to greater rewards for stakeholders as the user base and number of stakeholders increases.
Simply go to the "Dashboard" page and locate the "MNT rewards" section. Click on the
"Withdraw" button, and a modal will appear displaying two contracts: the rewards contract and the staking contract. Input the amount you want to withdraw, select the desired contract, and submit the transaction. After the transaction is confirmed, your MNT tokens will be transferred back to your wallet. Please note, that during Private Launch MNT cannot be withdrawn to user wallets.