📆Staking MAXX
Lock up your MAXX Tokens to earn $MAXX, and achieve delayed gratification by not selling early.
Last updated
Lock up your MAXX Tokens to earn $MAXX, and achieve delayed gratification by not selling early.
Last updated
In MAXX Finance, staking stands as a pivotal feature, drawing inspiration from time-locked deposits found in traditional finance. Diverging from the modest 1-2% APY offered by banks, MAXX Finance provides a substantial 18-80% APY on stakes. This interest is assured for the duration of the stake, independent of external dependencies or other users' staking actions – a clear departure from typical DeFi projects. Moreover, stakeholders retain complete control over their stakes and have a say in ecosystem voting, ensuring that at no point are their $MAXX tokens held by anyone else.
The staking mechanism remains the core foundational feature of MAXX Finance, integral to building and sustaining the platform. With over a year dedicated in 2022 to meticulous testing and development of our contracts, coupled with active trading on QuickSwap all of 2023, MAXX Finance has demonstrated the robustness and security of its ecosystem. Our successful track record lays the groundwork for the next chapter: MAXX Finance 2.0: The Community Network Phase. This upcoming phase, focused on community growth and engagement, is set to be rolled out in the near future, marking a significant stride in the continued evolution of MAXX Finance.
Below are screen shots of the testnet staking panel in the user interface which can be viewed at ui.maxx.finance
When a user makes a stake, the transaction deposits their liquid MAXX tokens into the contract, where they are locked until the duration.
Users will be able to view and manage all of their stakes in the dashboard, along with functions such as Naming the stake, Selling early, Trading or listing the stake for sale on a marketplace, and more.
At a stakes maturity, the user can withdraw the Principal + Interest earned to their wallet.
There are a few factors that affect what APY you will get, which we will cover in the next few sections. When creating a stake, you will be shown the exact APY you are getting.
