iMe in-app staking
Nowadays, there is a great variety of ways to get a passive income, and staking is definitely one of them. And, as usual, here in the iMe team, we made it as simple and as user-friendly as possible. Here are easy steps on how to participate in our staking:
- Go to your iMe non-custodial wallet.
2) Click on the “Services” button, then “Staking”.
In the Services section — Staking, you will find 2 tabs:
1. The All tab displays all available staking from iMe and other projects, as well as all your active staking at the moment.
2. The My tab displays 3 types of your stakings: “Active”, “Expired” and “Archive”.
3) Select the staking program that you like - enter the amount — click Approval — click Deposit and calculate gas fee
4) Confirm the deposit — send it and pay for gas fee, and done! Your deposit is sent. You are staking now!
Note: To participate in iMe staking, you have to have a “Basic LIME level” which is essentially at least 1 LIME token that you should have in your wallet.
Interest rates
There are two types of interest rates: APR (Annual Percentage Rate) and APY (Annual Percentage Yield). APY takes into account interest accrued quarterly, monthly, weekly, or daily, but Annual Percentage Rate (APR) does not.
This simple difference can significantly change the calculation of returns over a given period. Using compound interest APY, you will earn much more on your investment than with APR. Please note that interest varies depending on the frequency of accrual: the more often, the greater the earnings. Daily accrual will bring more interest than monthly.
Transactions and gas payments
There are 4 types of transactions (Approval, Creating a deposit, and withdrawal). And for each, you have to pay the gas in the coin according to which one you’ve staked. For example, when staking ETH, you pay for gas in ETH.
Ways to withdraw tokens:
Scheduled withdrawal: The execution of the request occurs within the period established by this staking program, as a rule, after 10 days. The fee for the scheduled withdrawal is 0 to 5 percent of the amount of tokens withdrawn.
Immediate withdrawal: the transfer of tokens from the smart contract address to your wallet address at the time of the withdrawal request. The fee is usually 5 to 15 percent of the amount of withdrawn tokens.
Withdrawal from the completed program: after the end of the staking program, you can withdraw your tokens without paying any fee, paying only gas.
Adding tokens
You can add tokens to your open deposit at any time.
To do this, please go to your active staking program and click on the Deposit button with the Plus icon, enter the desired amount of tokens to add to the deposit, and confirm the sending.
When adding tokens to the deposit, gas is taken for transferring tokens from your wallet address to the smart contract address.
When developing staking in iMe, we proceeded from the 2 most important principles for users: convenience and security.
All transactions in iMe are regulated by smart contracts, which provide the necessary security and guarantee the execution of these transactions.
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