Waterfall Staking
The new "Lock WTF"-to-earn paradigm is here, WAGMI
Last updated
The new "Lock WTF"-to-earn paradigm is here, WAGMI
Last updated
The veWTF staking system was inspired by Curve.fi's veCRV staking model that enables users to lock up their WTF tokens in exchange for Vote Escrowed WTF tokens (veWTF) that are non-transferrable (therefore cannot be traded), aiming to reduce the circulating supply while in exchange users receive WTF emission rewards and protocol fees generated, along with upcoming token incentives that are being built. The rewards go exponentially with the lock-up period, the longer user locks up their WTF tokens, the higher APY they will receive.
Link to staking page: app.waterfalldefi.org/stake
Get WTF tokens: Here
Represents the global staking figures, showing how much WTF are currently staked and the amount of veWTF outstanding.
The main staking interface, which we will guide you to understand and use it later this page.
The "Harvest" button allows you to claim daily WTF Rewards, they will auto-accumulate and you may claim them from time to time.
The chart shows you the conversion curve of WTF to veWTF according to time: the longer you locking up your WTF, the more veWTF you will be receiving and therefore a bigger share to staking rewards and protocol fees.
Your staking figures, your everything!
Now let's go through the staking process step by step.
First, there are two transactions you need to make and confirm on Metamask for the first time staking: you will need to approve the staking smart contract to spend WTF in your wallet first, then the actual deposit transaction will spend your WTF for depositing into our vaults.
After the approve transaction is confirmed, enter your desired lock-up period (max. 2 years) and WTF Balance and click "Lock & Stake WTF"
It's that simple! After your transaction is confirmed, you will receive some veWTF tokens as a representation of your locked-up WTF. Remember, they are not transferable so what you can only do from now is to vote with your veWTF (when the Governance module comes out), wait for the lock to expire and in the meantime enjoy the lucrative WTF staking rewards plus trading fees shares! The page will also tells you the statuses of your staking. For example, a 3.45% of veWTF ownership implies you have a 3.45% share to the rewards & fees pool. You can harvest the rewards anytime, unclaimed rewards will auto-accumulate, but won't auto-compound.
To maximize veWTF on your WTF staked and earn more staking rewards and protocol fees, you can always choose to extend your lockup period to a maximum of 2 years from the initial start date of your lockup.
Say you locked 500 WTF for 3 months at 10 Dec 2021, your lock up expiry date would be 10 Mar 2022. Say you are not happy with the rewards you are receiving, you can choose to extend the lockup time for your stake so as to receive more veWTF that gives you a bigger share of the rewards pool. The maximum lockup period is 2 years from your beginning lock time, you can lock until 10 Dec 2023, but not 10 Mar 2024.
It's simple: enter the amount of additional WTF you wish to stake, and click "Increase Lock Amount". Note that the additional WTF you locked up will follow your existing lockup schedule. That means if your original WTF staking expires at 3 March 2023, your new staking will also expires at 3 March 2023.
After your lock expires, you can go to the "Unstake" tab and select "Unlock" to burn your veWTF tokens in exchange for your initial WTF deposits back.
