Staking of $AVS Token is Live! A Must Read About AlgoVest Staking Launch
Start staking AVS and earn crypto rewards up to 28.50% APY.
We are delighted to welcome all our new community members to AlgoVest!
Since the launch of AlgoVest, we have been planning and building incredible forms of utility around our native token, AVS. This is why we listed on Uniswap and Hotbit Exchange for the public to be part of our growing DeFi ecosystem.
In addition to our token buyback and burn mechanism, we are excited to announce the launch of AVS Staking. To simplify user interaction with the staking contract, a staking dashboard was developed with a simple to use and convenient interface. The AlgoVest staking dashboard is accessible to the public at https://stake.algovest.fi and will be initially functional on MetaMask wallet. The staking platform is an important part of the AlgoVest tokenomics and ecosystem. Hence, we are working to integrate a Wallet Connect (Web3-enabled) function into the staking platform and will be released along with liquidity yield farming. Meanwhile, you can create a MetaMask wallet and transfer your AVS tokens to your personal wallet to stake and start earning rewards now.
Start Staking Your AVS!
To stake your AVS now, access the staking webpage https://stake.algovest.fi on your MetaMask browser, connect your wallet and follow the buttons on the staking platform. It’s pretty simple! Make sure you select the number of days you will like to stake your AVS, as the reward mechanism is related to days staked. You can see the incremental APY for rewards according to days selected. The longer days you stake, the higher your APY.
The platform allows you to stake as many times as possible on different days and APY levels. You will need to approve and confirm transaction to activate your AVS staking.
There are no minimum AVS staking requirement.
Staking fee. There are no staking fee.
Unstaking fee. You will be charged 2% of your staking rewards when you unstake at the end of your days staked. If you unstake before the end of your days staked, a 20% early unstake penalty will be deducted from your staking rewards. These fees are sent to the staking rewards pool to reward stakers.
When you stake your AVS tokens, they will be locked for the number of days you specify, between 15–180 days. We decided on locking staked tokens in order to make the AVS staking utility to be effective. As your staked AVS tokens are locked, you will be unable to transfer them. And don’t worry. Your staked tokens are perfectly safe and secure in the staking contract, and can only be withdrawn using your private key.
The staking contract code is open source and available for review at https://github.com/AlgoVestAVS/staking-contract. Also, the contract is safe to use but it is undergoing professional auditing to ensure the security of the staking contract.
Be careful of scammers. Always verify the staking contract address before approving a transaction! And kindly make sure to protect yourself from phishing and check that you are on the correct AlgoVest staking website before initiating any transaction.
Do not transfer tokens directly to the staking contract address. Tokens transferred directly to the staking contract address are NOT staked and CANNOT be recovered.
We are delighted with AlgoVest journey so far! We look forward to largely increasing the AVS liquidity with some great updates on AVS liquidity mining soon. Stay tuned for surprises from your favorite project!
The AlgoVest Team
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