How to Stake Lepasa NFTs
Lepasa “First NFT Staking Plan” with 20% to 125% APY*
Hello Everyone,
Now earn passive income with your digital Lepasa collection by staking your NFTs and earn annual yield in the form of LEPA tokens. This unique program let NFT holders lock their assets with Lepasa to receive staking rewards every second, all without the need of selling their NFTs.
The annual percentage yield (APY) is calculated using a unique algorithm that depends upon the total number of NFTs swapped through the ‘Open MagicBox’ process on lepasa website.
With each swapped NFT, 80% of the LEPA tokens will be burnt and 20% will be transferred to the Staking pool and is equally distributed among all the NFT stakers.
With Lepasa staking protocol, you earn rewards every second and can claim them any time, but minimum Locking period for staking is 90 days. So after 90 days, you may unstake your NFT to withdraw your NFT or continue till 365 days for earning reward.
Below is the detailed flow on how to stake your NFT on Lepasa Website.
- Open Lepasa Website in your browser and connect your wallet with the Polygon network.
- You should now see a ‘Stake’ Button on the Header, click to load the staking page, as shown.
3. Click on the ‘Stake’ Button, wait for a moment till your NFTs are loaded.
You can see the current applicable APY (this is dynamic and will be locked once the staking pool is closed depending upon total number of NFTs staked) and select the NFTS to stake in the next screen as shown below.
4. Staking consists of 2 transactions : Approve and Stake, the Approve transaction gives approval to Lepasa staking contract only the first time for transferring your NFTs onto the platform and the Stake transaction finally stakes your NFT.
5. After selecting the NFTs, Click on Stake Button adjacent to the ‘Reports’ button and click on approve in the popup that appears as shown below. This will initiate a transaction on your wallet for the first time only, After confirming the transaction wait for some time to let the transaction confirm on blockchain.
6. Once the Approve transaction is confirmed, click now on the ‘Stake’ Button, this will again initiate a transaction on your wallet and once the same is confirmed, you can see your staked NFTs list in the Staking Report Dashboard as shown below.
7. You can see the NFTs staked, their yield end time, locked time, and the reward you have earned in this screen.
8. The best part is, you earn rewards every second and can claim them any time, refresh this screen to see the Unclaimed Rewards increase every time. Just select the “Unclaimed” section against each NFT and click on withdraw to get your $LEPA rewards in your wallet.
9. You can claim rewards any time, but NFTS are locked for a minimum of 90 days from the date of staking and maximum you can let them staked for 365 days.
Happy Staking!!
