Stage 3 - Staking
How does staking work? Similar to the bonding event, a user can transfer ("stake") their TST during limited time periods. This means that there will be one or multiple campaigns throughout the year where staking is possible with varying interest rates. If the user decides to participate then, at the end of the period, the initial amount of TST is returned to the user and an interest payment on top of it, paid in sEURO.

What Is Staking?

If you have a keen interest in Ethereum, you may have heard about staking. The notion is that the user stakes their ETH (the utility token) to participate in the consensus (verification) system on the network. This is slightly different though from that when we are letting users stake our own token, TST. In our case, during Stage 3, a user stakes their TST in exchange for a stake reward based on that amount, paid out in sEURO. Staking only means that the user decides to temporarily "put away" their TST because it is returned to the user afterwards, together with the stake reward in sEURO.

Preparation

You need some TST to begin with. Either from participating in the bonding event from Stage 2, or through some other way. Similar to the other stages in the IBCO, we cannot transfer your funds without getting your explicit approval.

Performing the stake

Step 1 - Connect your wallet to Metamask If you are unsure how to do this, please see Stage 1 again for reference. This should be done automatically if you have followed along this guide from the beginning. Step 2 - Select the staking period You will see a list of stake periods being offered, each with a different period length and interest rate reward. The ones that are open have a button Start Staking highlighted. After you have clicked the period you want, you will be redirected to a new page. Step 3 - Enter and approve the amount to stake Make sure that you have enough TST to stake before proceeding. Enter the amount you want to stake and then press Approve TST. Before pressing the button, your window should look like this:
Approving TST before being able to stake
After you have pressed Approve TST, this will open a window to Metamask where you have to approve our contract to transfer funds from your account. You can verify that you are requesting Metamask to transfer the correct amount by looking at the Approved amount in the approval popup as seen below:
About to approve 1000 (fake) TST
After you have approved it, you may need to wait some time for the transaction to be confirmed by the network. The time can vary depending on how much traffic there is on the network so please bear with us! At this point, if everything went well, you should be able to see the highlighted Start Staking button.
A user is now able to stake their TST
Step 4 - Call the stake function Press the button and there will once again be an approval window popup but this time it is to create the stake position. You can verify that the contract is trying to call the MINT function as each stake generates an NFT. This is how the popup should look like:
Last step before confirming the MINT through Metamask
If you confirmed the transaction, you should now have staked your TST. Now you only have to wait to get that sweet, sweet sEURO yield!
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On this page
What Is Staking?
Preparation
Performing the stake