🕞Staking

Staking on Glimmer Finance allows users to lock up their $GLIMM tokens for a specified period in exchange for rewards. This mechanism supports the platform’s operations, enhances network security, and incentivizes user participation. Staking provides users with a way to earn passive income while contributing to the liquidity and stability of the marketplace.

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How Staking Works

Staking is designed to be intuitive and accessible for users of all experience levels. Follow these steps to start staking on the Glimmer Finance platform:

1. Navigate to the Staking Dashboard:

   • Log in to your Glimmer Finance account and access the Staking & Rewards section from the dashboard.

2. Select Staking Amount and Duration:

   • Choose the amount of $GLIMM tokens you want to stake.

   • Select the staking duration—longer durations often yield higher rewards.

3. Confirm the Transaction:

   • Use your connected wallet to confirm the staking transaction.

   • Once confirmed, your tokens will be securely staked on the platform.

4. Monitor and Manage:

   • Track your staking progress and rewards in real time on the dashboard.

   • Redeem your rewards or reinvest them for compounded earnings.

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Reward Structures

Staking rewards are distributed based on the amount of tokens staked and the duration for which they are locked. These rewards incentivize users to participate in securing the network and providing liquidity.

Reward Types

1. Standard Staking Rewards:

   • Earn a base Annual Percentage Yield (APY) on the tokens you stake, adjusted according to demand and liquidity.

2. Bonus Rewards:

   • Special pools or promotional events may offer bonus rewards, allowing users to earn additional tokens or benefits for staking.

   • Examples of bonus events include liquidity campaigns, governance participation bonuses, or time-sensitive APY boosts.

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Yield Mechanisms

Glimmer Finance offers innovative yield mechanisms to maximize the earning potential for stakers:

1. Dynamic Yield:

   • APY rates are dynamic, adjusting in real time based on platform liquidity, token demand, and staking pool usage.

   • Users can monitor live updates of their potential returns on the staking dashboard.

2. Compound Rewards:

   • Users have the option to reinvest their staking rewards into the pool automatically.

   • Compounding increases long-term earning potential by reinvesting returns to generate additional rewards over time.