Staking, liquidity providing and LP mining explained.
Synapse Network introduces the features available on our platform! With us, making money is easy and the world of cryptocurrencies is open and understandable.
To register in our platform go to: https://app.synapse.network/
Staking
What benefits are waiting for stakers?
From now, our users can stake their SNP tokens on our platform and gain additional tokens every minute!
Using the staking function that we have implemented will allow users to passively earn additional rewards, but that’s not all!
A) If staked tokens exceed dollar value presented in the table below, users will gain the ability to participate in fundraising for top-tier technology projects launching with us.
For example, if a user places a SNP with the value expressed in the table to the staking pool, then by using the “recalculate” button which is located in the user account details, the user will be able to get a ticket proportional to the amounts included in the table.
B) How does staking and tickets work?
Let’s assume that a user stakes an SNP that is equal to $500 and thus qualifies for a ticket that allows you to take part in fundraising events, which are fundraisers for independent high-quality projects in various fields of blockchain technology that cooperate with us and want to raise the desired capital for the development of their business in the world of cryptocurrencies and blockchain technology. It is worth adding that (using the example of a $500 ticket) our system works in such a way that even if the value of the staked SNP falls below $500 we still have our ticket! The ticket guarantees the user participation in his preferred fundraiser round, while reflecting the amount of funds he will be able to deposit maximum in the round he chooses.
C) What if the SNP value increases?
If you have a ticket worth $500 and the value of the tokens in the staking pool increases to $1000 you can press the “recalculate” button as it will count again the value of the SNP which you hold and grant you a higher ticket, thus increasing your investment opportunities.
D) How to become a Premium Staker?
Our staking rewards patience, the user who stakes tokens continuously for a minimum 30 days will be named a premium staker. An additional 0.5% fee from each transaction in which an SNP token is used, will go proportionally to each premium user as a reward, which makes staking on our platform even more attractive!
E) How to stake?
a) Log on to our platform https://app.synapse.network/ or create an account if you don’t have one.
b) If you already have SNP tokens in your wallet, press the “Staking” button at the top of the screen.
c) On the left side you will see “Stake SNP” and “SNP balance” balance shows the currently held tokens in your wallet, that is also the amount which you can put into staking.
d) In the bar below, enter the amount of SNP which you want to stake and press the Stake button.
If you staking already and just want to add more tokens to the pool, please press the “Restake” button
If you just want to claim your rewards press the “claim rewards” button.
e) If you purchased SNP tokens in earlier rounds and you have not claimed them yet, you have the option to claim them and add immediately to the pool with one click. To do this press on the button at the top of the screen named “Claiming” and click “Claim to stake”. There is also a claim button next to it which will allow you to simply claim the tokens to your wallet without staking.
F) How to unstake and what happens then?
User will lose his tickets
Withdrawing tokens from the pool forces the user to wait 7 days before he can claim his tokens via the claim function. During this time the user won’t receive any rewards. However, to prevent a sudden sale of tokens, a person who decides to immediately withdraw tokens from the staking will have to pay a penalty fee of 10% of all the tokens held in the staking. Patience pays off.
LP mining and LP staking.
Synapse Network also provides the opportunity to earn additional income through Liquidity Mining / LP Staking.
Only those who provide liquidity on the Uniswap exchange have access to this feature.
To participate in LP mining & Stake LP, firstly you need to add liquidity on Uniswap version V2 on the USDC/SNP pair. The first benefit you will receive after adding liquidity on Uniswap is a 0.3% fee from each trade on the USDC/SNP pair, which will go to you in the form of additional UNIv2 tokens, increasing your pool.
After adding liquidity you will receive UNIv2 tokens in your wallet, then return to our platform, click “Staking” and on the right you will see the amount of UNIv2 tokens, you have that next to “LP balance” then enter the token amount and press “Add Liquidity”.
Quick example:
1. Go to Uniswap: https://app.uniswap.org/#/add/v2/0x6911F552842236bd9E8ea8DDBB3fb414e2C5FA9d/0xA0b86991c6218b36c1d19D4a2e9Eb0cE3606eB48
2. Add liquidity for SNP/USDC pair (make sure you are on Uniswap v2)
a) Check SNP contract address: 0x6911f552842236bd9e8ea8ddbb3fb414e2c5fa9d
3. When you add liquidity, you receive UNIv2 tokens representing your pool.
4. Then go to: https://app.synapse.network/
5. Click “Staking”, go to “Stake LP” — set amount of UNIv2 and press “add liquidity”
6. Check contract address of LP: 0x6b5fc4a09Ecfa187C4e5b26A52636d2495F78692
Staking LP is added to your staking pool, so for example if you stake SNP and LP in our platform, the value of staked assets grows, that means you can get higher tickets much faster!
You can check the actual APR (Annual Percentage Rate) in “Staking” section for stake SNP and stake LP.
Providing liquidity, liquidity mining and staking on Synapse platform gives you great opportunities to earn more crypto! But the biggest reward is the opportunity to participate in our launchpad and invest in exclusive projects with us!
This is just the beginning of what Synapse offers for you all, join our community and learn more at https://synapse.network/
All the best, Synapse Network.
About Synapse Network
Synapse Network is developing a cross-chain investment and start-up acceleration ecosystem based on blockchain technology, to give everybody an equal chance to contribute to great upcoming projects and to do so early on. We are bridging the gap between the traditional & crypto market. The idea of the Synapse Network technology goes beyond the standard offer of launchpads available on the market, becoming a true technological brand providing tech solutions.
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