A Complete Guide for Staking with StakeStone
Plume is excited to welcome StakeStone into our ecosystem, making high-yield staking accessible and straightforward for everyone. We’re combining Plume’s innovative RWAfi infrastructure with StakeStone’s easy-to-use staking platform, enabling participants to engage in a rewarding staking experience.
Stakers can benefit from unique incentives, such as the StakeStone Points System, which brings together the best of traditional finance and blockchain in the RWAfi landscape.
Let’s dive into our step-by-step guide on how to start staking with StakeStone. This guide is designed specifically for beginners, so if you’re new to staking, you’re in the right place!
Step 1: Navigate to StakeStone x Plume Pre-Deposit Vault
Visit StakeStone x Plume Pre-Deposit Vault: https://vault.plumenetwork.xyz/
Step 2: Connect Your EVM Wallet
Click on the “Connect Wallet” button. StakeStone supports popular wallets like Metamask or Rabby. Make sure your wallet is ready and connected.
Step 3: Select the Ethereum Network
On the “Select Network” menu, choose Ethereum to ensure your staking occurs on the correct network.
Step 4: Select Your Staking Asset
Under “Select Token,” choose the asset you wish to stake, during this pre-deposit campaign, options include STONE and SBTC. You can get STONE by staking ETH and SBTC by depositing BTC on StakeStone.
Step 5: Input Staking Amount
Enter the amount of your chosen asset that you wish to stake.
Step 6: Confirm Your Staking
Click “Stake” and approve the transactions in your wallet. There will be one transaction to give allowance to the vault, and a second transaction to make the deposit. Double-check the transaction details, then confirm. This finalizes your staking and initiates reward generation.
Step 7: Withdraw Your Staked Tokens
After the mainnet launch, you can withdraw your tokens or continue staking on Plume’s mainnet.
- To Withdraw: Navigate to the StakeStone interface and select the “Withdraw” option. Choose the token and amount you wish to withdraw and initiate the transaction. You’ll confirm this in your connected wallet. If you withdraw before the mainnet launch, your rewards may be adjusted based on the percentage of tokens withdrawn.
- To Continue Staking on Plume: If you’d prefer to transition to the Plume Network, select the “Stake on Plume” option to bridge your assets for continued rewards seamlessly.
Step 8: Complete
Congratulations! Your staking transaction is now complete. You begin to accumulate staking rewards immediately, and each moment you hold them contributes to your earning potential.
Additionally, your participation in this pre-deposit phase earns you points within the StakeStone Points System!
Lastly, how are rewards calculated?
Base Points: The reward will be calculated based on the amount and time duration of SBTC and STONE staked. This rewards users who lock their assets for a longer period without a strict lock-up, encouraging them to leave funds in the vault for as long as possible. The longer you stake, the better rewards you will get.
Penalty: For this campaign, there is no hard lock-up period, but if you withdraw during the pre-deposit period before bridging, you will lose a proportion of points. For example, if you withdraw 50% of the tokens, you will lose 50% of the rewards. So Goons, hold them longer for better rewards!
Happy staking!
About Plume
Plume is the first fully integrated and modular chain focused on RWAfi. We’ve built the first modular and composable RWA-focused EVM-compatible chain designed to simplify onboarding for all types of assets and streamline capital onboarding through native infrastructure and RWAfi-specific features unified chain-wide. For the first time, we are enabling a composable ecosystem of defi built around RWAfis with an integrated end-to-end tokenization engine and a network of financial infrastructure partners for builders to plug and play. We have 170+ projects building on our private devnet today, with everything from private credit to equities, collectibles, and more.
