How to Stake? A step-by-step guide WeHMND/USDC

Follow this guide to stake your tokens by providing liquidity to Humanode BioDeFi.

Here's a comprehensive video tutorial to staking on Humanode Biostaker:

Step 1. Get HMND on Centralized Exchanges (CEXs)

Buy HMND tokens on any of the centralized crypto exchanges. Centralized exchanges where you can buy HMND. BingX | KuCoin | SimpleSwap | CoinEx

Once you get HMND from any exchange, move on to the next step.

For seasoned crypto users only! You can acquire eHMND from the Impossible DEX deployed on the Humanode chain or from the Uniswap DEX deployed on Arbitrum if you prefer not to use a CEX. For Impossible DEX, to buy eHMND, first, you need to bridge USDC from Ethereum to Humanode EVM using the ChainPort cross-chain bridge. After bridging USDC, ChainPort airdrops you 5 eHMND, which is more than enough to swap on the DEX. Bridging from the Ethereum Mainnet to the Humanode EVM requires gas fees in ETH. For Uniswap, you need to first buy eHMND from Uniswap on Arbitrum and bridge to Humanode EVM using the ChainPort cross-chain bridge.

Step 2. Swap HMND to eHMND

Humanode supports two address formats: native Humanode addresses starting with hm… and Ethereum-compatible (EVM) starting with 0x…. While most of the exchanges support native addresses, to stake you need to move your tokens to an EVM address using the internal swap.

The swap from HMND (Native HMND tokens) to eHMND (EVM version of HMND) is required because LP staking is available on Impossible DEX, deployed on the Humanode EVM version.

To get started: Transfer native HMND from CEX to your hm… address created with Talisman Extension, if purchased on another exchange.

Talisman Wallet now supports Humanode Network (both Substrate and EVM versions)Humanode

Use the internal HMND/eHMND swap to convert HMND to eHMND. Connect your Talisman wallet ( Humanode address) and connect or just paste your Ethereum-compatible address to receive eHMND. You can use either Talisman or Metamask for the Ethereum-compatible address.

Step 3. Swap eHMND to USDC

After acquiring eHMND, swap almost 50% of it for USDC on Impossible Finance, keeping about 20 eHMND aside for future network fees. This is required since we need USDC and eHMND to obtain LP tokens.

For sophisticated crypto users! Skip this step if you already bridged USDC from Ethereum.

Here's how you can do it:

On the Impossible Finance swap, Connect your wallet. Make sure you switch to Humanode Mainnet on your wallet.
Select WeHMND (Wrapped eHMND) in the From field and USDC in the To field and enter the number of tokens you want to swap.
Approve Spending on your wallet.
Swap the Approved amount of WeHMND to USDC.

Swapping requires a network fee.

Step 4. Add liquidity / Pool WeHMND/USDC

Now you are ready to provide Liquidity to Impossible Finance DEX. To do that, add WeHMND and USDC to the WeHMND/USDC pool on Impossible Finance DEX. In return, you will receive Liquidity Provider (LP) tokens that represent the value of your assets.

For pooling, keep the same $ amount of USDC and WeHMND in your wallet address.

To Add liquidity:

On the Biostaker app, Click "Add Liquidity"
You'll be directed to the Impossible Finance Dapp. Enter the amount of WeHMND & USDC tokens you wish to add to the liquidity pool.
Approve spending USDC & WeHMND on your wallet.
Supply the approved amount to the liquidity pool.
Confirm Supply and Add LP tokens WeHMND/USDC to your wallet.

Step 5. Biomap your EVM address and Stake LP tokens

Next, link your EVM address to your biometrics through a private face scan safeguarded by Humanode's cryptobiometric technology to prove you are a unique human. Unlike KYC, it doesn't require any personal information about you.

Biomapping is essential as it ensures one account per person, making the staking process Sybil-resistant and the new reward scheme possible.

Visit the Humanode Biostaker app, connect your wallet, and select 'BIOMAP'

Ensure you connect the wallet address you'll use for staking as biomapping is irreversible – an EVM address once linked to your biometrics cannot be reassigned to a different address.
Biomapping requires 2 eHMND + a network fee.

Accept the Terms and Privacy Policy.
Complete the face scan
Connect Wallet and Submit Transaction.

Once you've biomapped your address, stake WeHMND/USDC LP tokens on the Biostaker app. Just click Max in the Tokens to stake field, Approve Spending, and Confirm in your wallet. You can then view and manage your staked tokens and rewards in the Biostaker app.

Congratulations! Your assets are now stake and you are earning passive income. Click on Your Details to learn more about your staked tokens and rewards.

To learn more about Humanode's Nonlinear LP staking:

Nonlinear Liquidity Staking on HumanodeHumanode

Sybil resistant Nonlinear LP Staking on Humanode is Live!Humanode

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Last updated 20 days ago