$XAR Staking V2 is Live - Hodl & Earn
Over 25% of circulating tokens were staked during Staking V1, and now we’re thrilled to extend staking with $XAR Staking V2!
Just like in V1, $XAR holders can earn yield by staking their tokens across different durations, rewarding our dedicated community from a pool of $XAR based on staking terms.
Future staking versions will roll out alongside the launch of Arcana’s Chain Abstraction Protocol, enhancing $XAR's utility. In addition to earning staking rewards, token holders will play a vital role in ensuring the network's security and contributing to governance, adding value to the ecosystem as we move forward.
How To Stake?
Here are some prerequisites for staking your $XAR successfully
- Visit the correct URL: https://stakingv2.arcana.network
Beware of scammers and phishing replicas of the Arcana Staking V2 site. Please bookmark this to avoid confusion or potential phishing attacks. - Ensure you have your Metamask or other trusted EVM wallet installed in your browser.
- Ensure this wallet holds the $XAR you intend to stake and the required $ETH for gas fees to stake/withdraw/top up.
- Connect your wallet on the home screen to get started.
Once you have successfully connected your wallet, you will see 3 staking options with varying stake lockup durations and APY rewards.
Option 1 - 30 days
- Minimum Staking Duration - 30 days
- APY - 8%
- The staked amount can be withdrawn after 30 days
- Rewards can be withdrawn anytime (even during the staking period)
Option 2 - 90 days
- Minimum Staking Duration - 90 days
- APY - 10%
- The staked amount can be withdrawn after 90 days
- Rewards can be withdrawn anytime (even during the staking period)
Option 3 - 150 days
- Minimum Staking Duration - 150 days
- APY - 12%
- The staked amount can be withdrawn after 150 days
- Rewards can be withdrawn anytime (even during the staking period)
Choose an option and proceed to enter an amount you wish to stake. You will see the total $XAR you hold in your wallet and a button to select the maximum amount being held.
- You will also see the expected earnings, total rewards, and staked amount at the end of the stake period.
- Click the “Stake Now” button.
- You can always go to the “Unstake” tab on the Staking V2 page and view your existing stake.
The Arcana Staking V2 page will show a pending state while waiting for transaction confirmation. Once the transaction goes through, you will see a success message confirming your stake on the page's left side.
Once the spending cap approval is done, you will see a stake deposit transaction in your Metamask/Wallet. Review the details and gas fees, then click “Confirm”.
You will see the confirmation screen where you can review the details and the estimated gas that will be spent in ETH. Click “Approve”.
Your Metamask or other self-custodial wallet should pop up, asking you to review the spending cap, which should be set to the tokens you want to stake. Click “Next”.
How To Top-Up Stake?
Once staked, you can “top up” or add to your existing stake to get even more rewards. Your Stake tab will show the existing staked amount in the top bar.
- You will notice that you cannot now select a stake duration other than the one selected during the original stake. Your current stake has to mature/conclude to close it and pick a new stake duration.
- You can top up any amount from the total available $XAR in your wallet and add it to your current stake.
- You will see the expected rewards and total for this new amount. It is important to note that your rewards calculation will be pro-rated according to how many days are left in your current stake period. For example, if you top up 10 days into your 30-day stake period, your rewards on this new amount will be calculated for the remaining 20 days left in the staking period.
- It is also important to note that you can leave your stake in (not withdraw it) beyond the staking period and continue to earn rewards, even if your stake period has ended. This is possible until Staking V2 is active (roughly 6 months from the start). The rewards will be at APY for the chosen stake duration.
- The rest of the top-up steps are the same as the Spend Approval and Stake Deposit transaction approvals/confirmation, as seen above during staking.
- You can top-up up to 10 times within a period before withdrawing your stake and starting a new staking schedule.
How To Withdraw Rewards?
- You can withdraw your staking rewards anytime after the start date. You can view your earnings in the “Unstake” section (highlighted below).
- Click “Withdraw Now” to withdraw your rewards and approve your withdrawal request.
- The withdrawn token will reflect in your wallet immediately after the transaction is confirmed on-chain.
How To Withdraw A Stake?
- You can withdraw your staked tokens once the staking period is over. If you choose not to withdraw, you will continue earning rewards until the end of the Staking V2 campaign.
- Doing this Withdrawal will withdraw your entire stake and any rewards that have not been withdrawn yet.
- You can start a new stake again anytime until the end of the campaign.
On the next screen, review your withdrawal request and hit “Continue.” Once you approve the request from your respective wallet, the tokens will be transferred to your wallet.
To withdraw your tokens, simply go to the “Unstake” section and hit “Withdraw” (highlighted below)
Disclaimer
As an investor, here are some pointers you should consider before entering the staking world with $XAR.
- Price Volatility: Arcana’s team is focused on delivering value to the entire ecosystem and its stakeholders. However, the price of staked tokens can decrease during the staking period, leading to potential losses. Make sure you understand the risk-to-reward before committing to a staking timeline.
- Lock up: $XAR staking has a fixed lock-up period during which you cannot access your tokens, which may be inconvenient if you need to access tokens urgently.
- No Compounding: The Arcana Network's staking program does not offer compounding rewards. Any rewards you earn will not be automatically restaked; they can be withdrawn or restaked manually.
- Tax Implications: Staking rewards may be subject to taxation in your jurisdiction, so it's essential to understand the tax implications before committing to the staking program.
- Regulatory Risks: The regulatory landscape for decentralized finance and cryptocurrency staking constantly evolves, and regulations could affect the future of Arcana Network's staking program.
About Arcana Network
Arcana Network is pioneering a Modular L1 designed to enable Chain Abstractions and intent-based interactions, transforming the Web3 UX. Arcana’s Chain Abstraction solution unifies user balances across multiple chains, allowing seamless spending without bridging. This approach tackles liquidity fragmentation prevalent with the rise of numerous L1s, L2s, and L3s.
Arcana has raised $4.5M from 40+ leading investors including Balaji S, Founders of Polygon, John Lilic, Santiago Roel, and funds like Woodstock, Republic, Fenbushi, Polygon Ventures, DCG, and others. Our native token $XAR is listed on Bybit, Gate, and MEXC.