MGH Staking on Ethereum
written by Camilo Echeverri
The time has come to stake your MGH on the Ethereum Network. We are ready to present what you need to know about our staking mechanism.
Main MGH staking points:
- Staking on Ethereum will be bonded, meaning that the pool will have a lock up period.
- There is a 7 day deposit and withdraw period for each pool
- The first epoch will have four pools available to stake in with four different locking periods: 3, 6, 12 and 24 months. The length of each epoch includes the deposit duration.
- The plan was to initially offer three staking pools but the community decided to add and additional one. MGH is a project by and for the community so we are happy to announce that the fourth staking pool will be called Hong Long; the proposal creator.
- The APY will depend on the amount of time you commit to locking your tokens. The longer you lock them, the higher the rewards.
- The rewards and staked MGH will be claimable at the end of each Epoch for every pool, during the 7 day deposit/withdraw period. The staked MGH and the rewards will be automatically restaked if not withdrawn, resulting in a compound effect.
- The APY of every staking pool can be adjusted by a governance proposal at the end of each epoch.
- The Hodler, Degen and Ape pools will open starting December 15th at 23:00 CET
- The Hong Long pool will open on one week later on December 22nd at 23:00 CET
- If you are wondering about the APY of the Hong Long Pool, make sure to join our Discord because there is a contest about it coming very soon.
Detailed mechanics about MGH staking pool
How to stake your MGH
- Add the MGH token on Ethereum mainnet if you have not done it already. (0x8765b1a0eb57ca49be7eacd35b24a574d0203656)
- Head over to: https://app.metagamehub.io/stake
- Choose the Ethereum Network from the main page
- Connect to the interface using Metamask or Wallet Connect
- Choose a pool that suits you
- Input the amount of MGH token that you want to stake
- Click ‘Approve and Stake’. Note this will directly transfer the amount of MGH and lock them up until the next deposit and withdraw period. Only one transaction is needed.
- Confirm the transaction in your wallet. Wait until the transaction is confirmed, this might take some time.
- To claim your MGH (it can only be done at the end of each epoch for 1 week ) click on ‘Claim’ and confirm the transaction in your wallet.
We want to make it clear that the reason for the MGH DAO to have rewards is to incentivize users to actually participate in the governance system. The best way to do that is by rewarding early participants with more influence in the governance system.
How Can You Stay up to Date and Keep in Touch with MGH?
- If you want more information about MGH, visit our Website
- For a sharpshooter-like view over the whole project, read our Whitepaper.
- Follow us on Twitter.
- Follow us on Instagram
- Check out MGH on LinkedIn.
- Discuss, write, and celebrate with us on Telegram.
- Talk, laugh, and enjoy the time on Discord.
MetaGameHub DAO makes NFTs accessible. This is achieved through the implementation of an AI valuation algorithm that estimates the fair price of NFTs, primarily metaverse LANDs.
The valuation data is used to collaboratively acquire assets that will be curated by the community. The data is offered on the Ocean Marketplace and brought on-chain by running a Chainlink Node, which can be used by other protocols, enabling new ways of collateralizing NFTs. MetaGameHub’s main goal is to provide NFT infrastructure and generate digitally native value.
Follow our official social media accounts and visit our website to stay up to date with the MetaGameHub DAO.