Staking Is Live!
May 19. by Shirtum
The moment you have all been waiting for has finally arrived: the V2 Staking Plan is ready! In this medium you will find a small guide that will help you understand the whole plan in detail.
First of all you need to have your tokens in a WEB3 wallet (such as Metamask) in the ERC-20 network. If you still have your tokens in the BSC network you can use any of the bridges that we have enabled for our community to send their tokens to the Ethereum network. You can find a tutorial on “how to bridge your tokens” in our crypto site and in all our social media channels.
Once you have your tokens in the ERC-20 network and in a compatible WEB3 wallet, you’ll have to access the staking website and connect your wallet.
After you are connected, you will see the 3 different pools with their respective lock-in periods and APYs, which are as follows:
- 3-month lock period: 16% APR
- 6-month lock period: 24% APR
- 12-month lock period: 36% APR
Remember that all rewards will be delivered upfront (right in the moment you stake your SHI) and will be locked together with the amount you originally deposited until the end of the lock period you have previously chosen. This means these rewards plus your deposits will elevate your position in the ranking of holders per balance of SHI!
Keep in mind that you will be able to make as many deposits as you wish in the different staking pools (each deposit having a separate start and end date).
Once you have chosen your preferred pool, you’ll have to approve the stake contract. This step is mandatory, since it is the moment in which you are allowing to take from your web3 wallet the amount of SHI previously chosen by you and send them to the smart contract in order to acquire the rewards and activate the blocking period. After completing this step, you will have to insert inside the pool your desired amount of SHI and click on the stake button.
After a few seconds, you should see the amount of SHI deposited inside your chosen pool + the amount of SHI that corresponds to the pool’s APY. Getting the SHI rewards upfront means reaching a higher position in the ranking, and thus getting the chance to participate and obtain advantages in each of the drops that Shirtum will perform in the future.
Linked to the V2 Staking Plan, we are pleased to introduce to you ‘My SHI’, an interactive space in which you’ll be able to find all relevant information with regards to holding the key of our ecosystem in order to access our soon-to-come NFT drops. This includes the position in the ranking per balance of SHI, if you are part of our Greenlist or Whitelist (priority access lists to our NFT drops), the amount of SHI you need to have in order to be part of these lists and other interesting data such as which are the next drops to come, exponentially enriching the user’s experience.
At the moment, the Shirtum Team is working on a Beta version of ‘My Shi’. In this early stage of the dashboard, you will be able to see in real time the ranking that each wallet has by total SHI balance in staking, i.e. SHI of deposits + SHI of rewards.
In this way, the wallet owner will know if he/she is close to access or to stay out of the above mentioned lists.
All these new integrations are part of the path that Shirtum is taking with the main goal of providing its users in the medium to long term with a user-friendly experience, which will allow fans to connect with their idols in a much more intuitive and direct way.