This document will be your step by step guide on how to use the XBE protocol when it comes to staking, providing liquidity and locking up XBE. If you have any further queries, please feel free to contact the team on one of our social media channels so we can assist.
Connecting your Wallet
Step 1) Click on ‘Connect Wallet’ – this will open up your MetaMask wallet and prompt you to connect it. Once completed, it will take you back to the app.XBE.finance page.
XBE Staking
Step 1) You will need to approve the contract before staking your XBE. Choose any XBE value greater than 0 and click on the ‘Approve’ button. MetaMask will then prompt you to approve it by paying your gas fee.
Please note that for security reasons you are able to revoke any of our contract’s permissions by simply approving a 0 value.
Step 2) Once approved, you will be able to stake your XBE tokens. Choose how much XBE you would like to stake and then click on the ‘Stake’ button. Metamask should again prompt you to confirm this, and in doing so, you will need to pay a gas fee. It should take some time to confirm this transaction. Once confirmed, the user interface will be updated and it will show Your Staked Assets.
Step 3) If you would like to withdraw your staked XBE, you can choose the amount that you would like to withdraw and click on the ‘Unstake’ button. MetaMask will then prompt you again to confirm this by paying a gas fee. This should take a certain amount of time to confirm.
(NB*) Withdrawing your staked XBE and XBE rewards is NOT subject to a 5-day unbonding period. Please note that LP reward assets (SushiSwap LP, XBE Hive etc.) are subject to an unbonding period of 5 days. During the unbonding process, the XBE continues to earn staking and protocol rewards.
XBE Lockup
Step 1) In order to Lock-up your XBE, you will first need to stake your XBE. Please follow the previous page on how to stake your XBE if you are unaware.
Step 2) Once you have staked your XBE, you can choose how much you would like to lock up. There is no need to approve this contract first.
Please note that for security reasons you are able to revoke any of our contract’s permissions by simply approving a 0 value.
Step 3) You will be able to lock up your XBE tokens for your desired boost levels. You can choose your boost percentage by clicking on the dropdown. Remember the longer the lock-up period is, the higher your boost will be and the more rewards you will receive. Once you have decided on your boost percentage (i.e. the length of your lock-up), you will need to click the ‘Lockup’ button. MetaMask will again prompt you to pay a gas fee for the transaction to go through. Once confirmed by the network, the user interface will be updated and it will show your Total Locked Assets.
(NB*) It is important to remember that your XBE will be locked for the full chosen lock period and you will only have access to these tokens at the end of your desired Lock-up period. Your rewards however will be claimable in real-time.
Providing liquidity for XBE
Step 1) You will need to approve the contracts before you can provide liquidity. Start by putting in a value of XBE greater than 0 and click the ‘Approve XBE’ button on the left screen as shown above. You will need to pay a gas fee when doing so.
Step 2) Once approved, you will be able to provide liquidity. Choose how much you would like to provide and click ‘Deposit’. Remember when providing liquidity, you will need equal amounts of each asset (i.e 50% of ETH and 50% of XBE). Single-sided liquidity provision contracts are under audit and we will release more on this soon.
Step 3) Once you have provided liquidity, you will receive your corresponding amount of SushiSwap LP tokens. You will first need to approve the contract on the right screen as shown above. Put in a value of LP tokens that is greater than 0 and click the “Approve” button.
Step 4) Once approved, you can choose how many LP tokens you would like to deposit. After you have clicked on the ‘Deposit’ button and the transaction has gone through, you will start earning XBE rewards in real-time. Please note you will be unable to earn rewards without depositing your LP tokens.
(NB*) It is important to remember that when providing liquidity, your LP rewards are automatically bonded and when claimed, will go through a 5-day unbonding period. During the unbonding process, the XBE is automatically staked and continues to earn staking and protocol rewards. You may have access to these rewards sooner (within the 5 days), however, you will be required to pay a 50% penalty for unbonding early. All penalties generated in this way are automatically distributed to stakers.
XBE Rewards
This screen shown above will be used to show your XBE rewards in real-time from different product offerings. It will show your rewards from staking, locking up and providing liquidity.
Step 1) If you have staked or locked up your XBE, you can claim your rewards by clicking the “Claim Staking Rewards” button. MetaMask will prompt you to pay a gas fee. These rewards are claimable directly to your wallet.
Step 2) If you have provided liquidity (via SushiSwap) and you would like to claim your rewards. You can click on the “Claim LP Rewards”. Please note that these LP rewards are automatically bonded and when claimed, go through an unbonding process of 5 days. During the unbonding process, the XBE is automatically staked and continues to earn staking and protocol rewards. You can choose to unstake these XBE during the 5 days (unbonding process), however, you will be required to pay a 50% penalty and this penalty will automatically get distributed to stakers.
(NB*) It is noteworthy to mention that rewards from staking and locking up are claimable in real time with no unbonding process, however, all LP rewards (SushiSwap LP, XBE hive etc) will be automatically bonded, and when claimed, will go through an unbonding process of 5 days. It is important to understand that during the unbonding process (5 days), users will earn their proportional share of staking and protocol rewards (ie. you continue to earn during the unbonding process). Users are able to withdraw these rewards in less than 5 days but at a 50% penalty. This penalty is distributed to XBE stakers.
XBE BOOST
By locking up XBE for the max period, you will receive maximum veXBE which will result in you having a maximum boost on your rewards. The longer you lock up for, the higher the boost levels (up to maximum) and the greater the rewards you will receive.
An easy way to understand the whole system is that if you stake your XBE, you will earn your proportional share of rewards at the minimum earning rate, otherwise known as minimum boost. If you lock up your staked XBE for a short period of time (e.g. 1 Week), you will start earning at a slightly increased rate which will decrease proportionally back to the minimum boost over the course of your lockup period. If you lock your tokens up for longer (e.g. 4 Weeks ), you will earn at an increased rate that will STILL decrease proportionally over time as your lockup date approaches.
If you decide to lock up for the max term WITHIN the first 30 days of launch, you will start earning at the maximum earning rate (maximum boost) which will NOT decrease proportionally back to the minimum boost as your lock-up expires. By locking up for the max term within the first 30 days, you will ALSO receive your proportional share of 5,000 Bonus XBE (minted after 18 months and distributed over 6).
However, if you lock up your XBE for the full duration (100 weeks) AFTER the first 30 days of launch, you will be earning at maximum boost which WILL decrease proportionally over time as your unlock date approaches. If you missed the initial 30-day BONUS window, you will still be able to maintain max boost over time by simply increasing your lock to the desired boost levels.
(NB*) Only users who have locked up for the full term (100 weeks) during the first 30 days will NOT experience any boost decrease.
You will be able to add to boost levels & lockup by following the steps below:
Add to boost) Scroll down to the ‘XBE Boost’ tab. If you would like to increase your boost percentage (i.e. extend your lockup period), navigate to the right tab, click on the drop-down and choose your desired boost levels. The higher the boost percentage, the longer you will be locking your tokens for (max of 100 Weeks). Once chosen, click on the “Add to boost” button. You will need to pay a gas fee when doing so. Once completed, you will see your boost percentage increase!
Please note that you can only add to your boost (i.e. can only extend your lockup). You cannot reduce it.
Add XBE to lockup) On the same tab, navigate below to where you can add to your lockup. Choose how much you would like to add and click “Add to lockup”. MetaMask will prompt you to pay a gas fee. Once completed you should see your updated amount on the “XBE Lockup” tab.
(NB*) You will need to stake XBE before you can add to your lockup.
Claim XBE staking rewards
The XBE tab shown above is a mechanism in which users can claim all their XBE staking rewards. These are the rewards from staking and locking up and do not include LP rewards.
Step 1) Click on the ‘Claim All’ button. MetaMask will prompt you to confirm the transaction by paying a gas fee. Once confirmed, you should see your XBE directly in your wallet.