Humanode BioDeFi - Guide to staking on Humanode Biostaker
A detailed guide to understand Humanode Liquidity (LP) staking.
Last updated
A detailed guide to understand Humanode Liquidity (LP) staking.
Last updated
In traditional liquidity staking also called liquidity mining programs, whales such as market makers or funds come and take all the rewards leaving the community dry. Using Humanode confidential uniqueness checks, we came up with a novel reward structure where smaller holders get a better percentage return than whales.
Humanode's biometric-based Nonlinear Liquidity staking model combines cryptobiometric technology for Sybil resistance with a unique Nonlinear formula to calculate rewards.
Since the Humanode chain doesn’t require staking to be secure and one-sided staking would have no functional use the team decided to incentivize decentralized liquidity. Whenever someone adds tokens to the liquidity pool they increase the efficiency of trading on the decentralized blockchain. This guide will be your handbook to Stake your Liquidity Provider (LP) tokens on Humanode Biostaker.
Before we begin, here are some fundamental parameters to keep in consideration:
LP staking is a passive way to earn HMND with a reward percentage ranging from 100% - 1000% annually depending on your share from total staked assets.
You can estimate how much annual returns you can potentially earn by connecting your wallet address here and adjusting the LP token quantities.
Currently, staking is available only for the WeHMND (Wrapped eHMND) and USDC pair on Impossible Finance Swap.
To stake, you need an equal dollar value of HMND tokens and USDC in the liquidity pool (50% each).
The current staking period is set from November 14th, 2023, to May 14th, 2024. It will be 100% prolonged.
Note: HMND, eHMND, and WeHMND are different versions of the same token but only technologically. They are always equal in value.
You can start staking by following the easy step-by-step guides.