Staking

OnlyMoons Staking Platform - Beta available on BSC Testnet

Staking is the process of locking cryptocurrency holdings to earn rewards. Through the OnlyMoons Staking platform, holders are able to single stake OnlyMoons tokens or LP tokens.

When single staking, the contract will swap OnlyMoons tokens for non-tradable xONLYMOONS tokens at a rate of one for one. xONLYMOONS purpose is to be used for voting and is required to swap back to the OnlyMoons tokens. The rewards for staking will be generated through the fees received by the fee collector (for more information about the fees, see the Fee Collection & Distribution). The rewards for each pool will be split between the stakers in a pool depending on the percentage owned.

A bounty will be generated from the fees, currently set to 3% of the available rewards, that will be sent to the user that pays the transaction fee to initiate the staking reward payout. This bounty will be separated on each chain.

Staking as a service - In development

OnlyMoons will also offer a staking contract deployer that will allow projects to deploy staking contracts. The contract will require the project to select a token to be staked and the rewards will be sent to the staking contract address from where they will be distributed to all stakers. The rewards can be distributed over time or be paid out instantly.