PepeTeam staking is an investment product from PepepTeam that allows WX Network users to earn passive income from cross-chain swaps. As you know, when a user transfer Token to the Waves blockchain through the PepeTeam bridge, he receives a wrapped Token: USDT-ERC20, USDT-BEP20, USDT-POLY and etc. Such a way gives him the opportunity to withdraw the same amount of the same token back to the original blockchain but limits cross-chain interactions. Therefore, the PepeTeam team issued synthetic tokens - USDT-PPT/USDC-PPT, which allowed to defragment liquidity transferred through the PepeTeam bridge. This greatly simplified WX Network interactions with PepeTeam products (for example, creating a “single” liquidity pool), and the PepeTeam team itself is allowed to create new investment and trading tools, which we integrated into our application. One of such investment tool is PepeTeam staking. The mechanism of its operation is quite simple: some users put, for example, USDT-ERC20 into the PepeTeam pool, receive in return USDT-PPT and stake it, while other users use these USDT-ERC20 tokens to make cross-chain swaps. Swapers pay a fee, part of which is received by USDT-PPT stakers.
How to stake tokens
There you have to switch "Swap" form to the "Via PepeTeam" and fill it in:
- select the token you deposited through the PepeTeam Bridge and a similar synthetic token that you want to stake - USDT-PPT/USDC-PPT;
- enter the amount of deposited "wrapped" tokens that you want to swap;
- check the swap conditions and click on the "Swap" button.
Next, nevigate to the "PepeTeam Staking" page, choose the token you are going to stake (USDT-PPT or USDC-PPT) and stake it.
How to unstake tokens
The amount of staked tokens is specified below the staking form. This amount can be ustaked at any time you want. Just click on the "Unstake" button, enter the USDT-PPT/USDC-PPT amount you want to unstake in the pop-up window and click "Unstake" button once again.
How to claim staking reward
After each swap, part of fee paid by swaper in spending token, is shared among all stakers. Since users swap different tokens, the reward for USDT-PPT/USDC-PPT may be paid in several tokens at the same time. Stakers can get their parts of accumulated reward at any time by clicking the "Claim" button in the "Staking Reward" area.
If you have any questions related to WX Network, feel free to contact us.
tags*: swap pepeteam stake staking reward income earn usdt usdc