Staking FAQ
How to start staking?
Connect your wallet (Matamask or WalletConnect) to https://staking.cgu.io/
Go to the pools page https://staking.cgu.io/pools pick a pool where you want to stake your CGU tokens.
Click on Staking drop down menu and click “Deposit”. Choose the amount of CGU and the period you want to stake (longer periods offer greater staking rewards) and click “Approve”.
Your MetaMask/WalletConnect wallet should now ask for a confirmation to approve that deposit.
Confirm the action in your wallet, wait for the transaction to be confirmed. Your CGU are now staked and will generate weekly staking rewards.
What do I need to start staking?
To start staking, please, make sure that you have your CGU tokens on your Metamask or WalletConnect wallet and you have enough tokens to pay network fees.
Which staking pools are available?
There are currently two staking pools available on Binance Smart Chain network, CGU pool, which allows users to stake CGU directly and CGU/USDT pool, which allows users to stake the LP-CGU-USDT token one receives for providing liquidity in CGU/USDT market on Pancakeswap.
Will there be a minimum amount to be staked?
No, there is no minimum amount of CGU needed to be staked.
TIME locking mechanism
To motivate users to hold CGU, locking schedule will be implemented. The longer users commit to locking their tokens, the higher the reward multiplier is.
Token lock time
Reward multiple
1 hour
x1
30 days
x1.2
180 days
x1.3
365 days (1 year)
x1.5
730 days (2 years)
x2
Example Alice has 100 CGU, which she locks in the staking smart contract with no restrictions on withdrawals (zero days lockup). Her share of rewards will be subject to the 1x coefficient (100x1 = 100). Bob has 150 CGU, which he locks in the staking smart contract for 730 days. His share of rewards is subject to the 2x multiple (150x2 = 300). Bob will therefore receive three times the rewards that Alice does.
Fees
There are no platform fees for CGU staking.
Deposit fee: 0%, only gas cost Withdraw fee: 0%, only gas cost Harvest fee: 0%, only gas cost Compound fee: 0%, only gas cost
What does 'Harvest' and 'Compound' mean in the context of staking pools?
Harvest means that all currently acquired staking rewards will be withdrawn to the user’s wallet. Compound means adding the currently acquired staking rewards to the total amount of CGU already staked from that wallet. Example: If a user locks 100 CGU and those generate 15 more CGU, choosing Harvest means 15 CGU will be withdrawn to the user’s wallet and CGU TIME will remain staked. If the user chooses Compound instead, the total amount staked will be increased to 115 CGU, while no staking rewards will be withdrawn to the user’s wallet.
What does the APY depend on and where can I find statistics?
The APY for staking CGU depends entirely on the amount of revenues generated by the CGU ecosystem. Statistics regarding the reward is published on CGU staking page.
How often will the staking rewards be distributed?
Currently, staking rewards are distributed once a week.
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