How to Stake Tokens to Earn CHESS
- 1.
- 2.Connect your wallet to the platform.
- 1.Tranchess now supports Metamask, Wallet Connect and Binance Chain Wallet.
- 2.In our guides, we will use Metamask as an example.
- 3.You can start staking through these two tabs:
4. The staking page contains the following information:
- Your total staked & locked value.
- Your current CHESS rewards.
- Weekly rebates that you have earned.
- Staking details for all tokens (you can check the box and see only tokens you've staked).
- Lock CHESS tab which includes the details of your locked CHESS, veCHESS, the overall weekly rebate pool of the week and your shares in it, the boost factors for all funds
If you click on "simulate your boost strategy" under your boost factor details, you will be redirected to a "Yield Simulator" page where there are customized advice to improve users' boost factors based on their accounts, and simulate with different numbers to see how many CHESS they can mine per day with different amount of staked Q/B/Rs.
5. The staking process is the same for all tokens. Here we use nQueen+ as an example. Click on "Stake or unstake" for the token you want to stake (make sure to claim it from the Primary Market first before staking).
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6. Enter the amount of nQueen+ you'd like to stake in the pop-up. If this is the first time you stake this asset, you would need to approve it first, and then stake.
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7. After the transaction is confirmed, you will see these updates for the staked token: your staking APR and a max staking APR if you haven't reached your max boost factor, the amount of token you've staked and its current value in USD, updated staked balance under "Your total staked & locked value", updated boost factor, and an instant accumulation of CHESS rewards!
Testnet image. Numbers blurred to avoid confusions.
8. Congrats! You've successfully staked your token and started earning CHESS!
9. CHESS is now on Pancake Swap. Scroll down the Staking page to: be a liquidity provider or buy more CHESS on Pancake Swap!
