WENWEN Protocol Beta Test Staking Instruction
WENWEN Protocol Tokenomics:
WENWEN Protocol has three main tokens:
USD pegged stablecoin — WEN
Incentive token — SHAREN
Governance and fee earning token — sSHARE.
For the beta test on Barnard TestNet, users can deposit STC to borrow the USD pegged stablecoin WEN, participate in liquidity farming with STC-WEN and STC-SHARE LP tokens to earn the incentive token SHARE. Users can now stake their incentive token SHARE to earn the governance and fee earning token- sSHARE.
What Is sSHARE?
sSHARE is the fee earning token and governance token in the WENWEN Protocol. Users can stake their SHARE to receive sSHARE. sSHARE represents the user's share of the protocol fee pool and the user's vote in protocol governance.
Holders of sSHARE can receive fees including:
- Interest fee
2. Borrow fee
3. 10% of liquidation fee
4. Incomes generated by the collateral assets (coming soon)
Users need to stake and lock their SHARE for a minimum of 24 hours before claiming, which means every time a user stakes SHARE, it will be locked for the next 24 hours before it is available to claim sSHARE or withdraw SHARE.
How To Participate?
- Visit WENWEN Protocol https://wenwen.money/, click on Launch App.
2. You will be redirected to the Borrow Page and click on Connect Wallet to connect your StarMask wallet.
3. Go to your StarMask wallet and choose the correct network. This beta test is conducted on Barnard. Therefore, you need to select TestNetwork Barnard.
4. Once you are connected to Barnard TestNet, click on Stake.
5. You will be redirected to the Stake page.
6. Enter the amount of SHARE you would like to stake to earn sSHARE. Click on Stake.
7. You will be able to see your Stake Information on the right side of the page. Click on Claim, and you will be able to claim your sSHARE tokens (Please note that all the sSHARE are subject to a 24 Hours lock-up period. You will only be able to claim sSHARE or withdraw SHARE when you reach the unlock time).
8. To unstake your SHARE, enter the amount of sSHARE you would like to burn to unstake SHARE. Click on Unstake, and you will be able to see the amount of unstaked SHARE in your wallet balance.