💰How to stake JOJO and get veJOJO?
Last updated
Last updated
veJOJO represents the governance rights of the JOJO platform, allowing users to control the future release of JOJO tokens and profit from their governance activities. And ultimately leading JOJO towards complete decentralization.
The minimum lock period for JOJO is 7 days, and you can extend it up to a maximum of 4 years. As you increase the duration of your lock, the amount of veJOJO you receive will linearly increase. For example, lock 1 $JOJO for 7 days will yield 0.004794 $veJOJO, while a 4-year lock will yield 1 $veJOJO.
All veJOJO holders are entitled to revenue sharing proportional to their veJOJO holdings.
Additionally, they benefit from voting power and access to numerous exclusive privileges.
Navigate to the Staking Page:
Click the "JOJO Staking" button located in the top left corner under the "Earn" tab.
Choose Your Staking Parameters:
Amount: Enter the desired amount of JOJO you wish to stake.
Duration: Select the preferred lock-up period. Note that longer lock-up periods yield higher veJOJO rewards.
Example Staking Scenarios:
Scenario 1: Staking 50 JOJO for 30 days yields approximately 1.027397 veJOJO.
Scenario 2: Staking 180 JOJO for 30 days yields approximately 6.164383 veJOJO.
Remember: The longer you lock your JOJO, the higher your veJOJO rewards will be.
Confirm Your Stake:
Review your staking details and click "Confirm" to proceed.
Monitor Your Staking:
Your staked JOJO balance and lock-up end time will be displayed on the JOJO staking page.
Once the lock-up period ends, you can claim your original JOJO tokens.
