The Mover team has launched the long-awaited $MOVER token steaking, designed to create a great Utility for the token, encouraging all Mover holders to maximize the benefits of token ownership. We are often asked about how exactly to use $MOVER token steaking, so we decided to write a step-by-step guide explaining exactly how to do it.
$MOVER Staking details
Staking $MOVER tokens enables token holders to actively participate in the platform’s ecosystem and earn additional income.
The staking model is based on ve-tokenomics, initially pioneered by Curve Finance. By staking $MOVER tokens, users gain the opportunity to earn $veMOVER tokens. $veMOVER token holders can look forward to numerous benefits, with the first one already in effect: owning $veMOVER tokens allows for reducing bridge fees to 100%!
Own 1000 veMOVER: save 50% on bridge fee
Own 5000 veMOVER: free bridging!
$veMOVER tokens will be available immediately upon initiating the staking process. At the end of the staking period, $veMOVER tokens will be burned, and the user can withdraw their previously staked $MOVER tokens. Please note that $veMOVER tokens cannot be sold or transferred.
How to stake $MOVER token
In this section, we will provide a detailed description of the token staking process for $MOVER tokens.
To begin, you need to visit the Mover Stake page.
Next, you need to connect your Aptos wallet to app.mov3r.xyz, where your tokens are stored.
If you do not currently own $MOVER tokens, you can acquire them on the Bitget exchange.
Now, you need to select the period for which you want to lock your $MOVER tokens in the staking program.
There are six different staking periods available, each with varying durations:
- 1 Month
- 3 Months
- 6 Months
- 1 Year
- 2 Years
- 4 Years
The longer the selected locking period, the more $veMOVER tokens you will receive in return.
After selecting the locking period, specify the number of tokens you wish to stake, and then click the “Stake” button.
In the wallet’s pop-up window, double-check the accuracy of the specified amount and wallet address. After confirming that the details are correct, proceed to execute the transaction by clicking the “Approve” button.
Congratulations! You have just successfully staked your $MOVER tokens. At the top right of the screen, you can monitor the amount of $veMOVER tokens you have received in exchange for the staking period. The end date of the staking period will be visible on the left information panel.
The fee distribution feature is currently under development and will be launched soon.