Staking
Last updated
Last updated
Tulip tokens can be staked into the staking page to earn yield from protocol revenue. A portion of protocol revenue is used to buy back and distributed to stakers. Once staked, you will receive sTULIP, which is used for our governance process. Voting will also utilize sTULIP.
sTULIP requires 2 weeks time to unstake and claim. Once you initiate the unstaking process, you will have to wait for 2 weeks to claim your tokens. During this period, there will be no yield generated and the tokens cannot be used to participate in governance. There can be up to 5 pending unstakes.
APY for staking is displayed with last week's APY and also cumulative APY (year to date). Due to many factors, the APY is indicative and will not reflect future performance.
Stakers also have an option of instantly unstaking, bypassing the 2 week cooldown. A penalty of 10% of your stake will be slashed and distributed to the staking pool.
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