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How to stake cMOON to get staking income?（MoonCake）?
- 1.Connect to your wallet.
Note: the Conflux wallet in demonstration is a test account
Go to MoonCake and click [Connect Wallet]. Conflux wallet will pop up and select a wallet address that you want to connect with. If you don’t have a Conflux address yet, please click the link to create one.
2. Convert cMOON into xMOON
(1) Click [Convert into xMOON], enter the amount of xMOON that you want to convert. Or click [Buy Now] to go [Swap] and swap for cMOON tokens. Then [Confirm] and approve the transaction in the wallet.
(2) When cMOON are converted into xMOON, you won’t be able to see the cMOON rewards in real-time. The rewards generated and principal will show when your xMOON are converted back to cMOON. To convert back, please enter the amount and click [Confirm].
(3) Click [Withdraw] to withdraw your prinicipal and cMOON dividends to your wallet.
Note: The conversion of xMOON to cMOON will have a 7-day consensus period, after the consensus period ends, users can immediately receive the staked cMOON and the proceeds distributed by Staking Vault. During the consensus period, if the user wants to receive it immediately, 0.3% (of the staked cMOON and the proceeds distributed by Staking Vault) will be deducted and re-injected into Staking Vault to reward community consensus members who continue to hold xMOON. Every time xMOON is converted to cMOON, the consensus period will be reset.
FAQ1:
What is xMOON?
xMOON is token similar to MoonSwap’s MLP. Users can convert their cMOON into xMOON and the system will distribute cMOON rewards among xMOON holders according to their proportion.
FAQ2: How do I obtain cMOON？
After approving your wallet, please convert your cMOON in the wallet into xMOON and you will get rewards every 2 hours. Note that your interests and principal will show in the third modular on the homepage.
FAQ3: How much cMOON reward can I get?
The amount of you cMOON rewards is determined by how much xMOON you hold. The higher the proportion of xMOON throughout the whole network you hold, the higher the rewards you can get.
FAQ4: Where does the cMOON in the Staking Vault come from?
1) 0.04% of the total transaction fee charged by MoonSwap;
2) 1% of the total NFT transaction fee;
3) Part of the revenue of the Kepler Protocol;
4) MoonSwap will continue to expand other sources of Staking Vault
FAQ5：Why does the number increase when xMOON is converted to cMOON?
After cMOON is converted to xMOON, cMOON will be distributed according to the proportion of xMOON held. In addition to the principal, it also contains more income.
FAQ6: When can it be harvested?
When xMOON is converted to cMOON, you can see the income obtained. At this time, you can see that the number of cMOON after conversion has increased (it needs to wait for more than 2 hours before there may be gains, because dividends are distributed every 2 hours).
FAQ7：What is the consensus period?
If you exchange cMOON for xMOON and hold them, you can get income from the staking vault. This is to protect the interests of community users who have always supported MoonSwap. In order to maximize this effect, we decided to set a consensus period for xMOON.
Every time a user converts xMOON back to cMOON, it will enter the consensus period. After the consensus period is over, users can immediately receive the staked cMOON and the income distributed by the staking vault. During the consensus period, if the user wants to receive the tokens immediately, 0.3% (the staked cMOON and staking vault distribution income) will be deducted and returned to the staking vault to reward community consensus members who continue to hold xMOON.
FAQ8：Before Staking goes live, how will the transaction fees (cMOON) of all MoonSwap and NFT Market received by the contract be distributed?
We decided to inject all cMOON (including 0.04% of the MoonSwap transaction fee and 1% of the NFT Market transaction fee) in the transaction fee contract before the launch of Staking into the contract of the Staking Vault by a percentage every day, and inject 20% on the first day, and then inject 10% of the balance into the Staking vault every 24 hours.
Last modified 1yr ago
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