Staking
Stake MIDS to earn a share of the fees traders pay on Pactol, paid in USDC, and to cut your own trading fees by up to 40%. Midas Chain has no validators to delegate to, so a stake here is MIDS held by an open contract: it earns while staked and comes back 7 days after you ask for it.
Your staking balance
Connect a wallet to stake, see your tier and claim rewards.
Where the rewards come from
Each week, 25% of the fees traders paid that week is streamed to stakers over the next seven days, pro rata to stake. The fees counted are the ones customers paid: the venue's own market makers pay fees too, and those are the venue paying itself, so they are left out.
Questions and risks
What do I earn, and when?
USDC, every second you are staked, in proportion to your share of all active stake. It accrues in the contract and you claim it whenever you like; claiming is never paused. The rate changes each week with the fees the venue took the week before.
Where does the USDC come from?
From trading fees. Each closed week, the reward keeper reads the fees customers paid that week from the venue's public fee figures, and funds a quarter of it into the contract to stream over the next week. The contract only ever streams money it already holds. On this testnet the keeper mints the matching TestnetUSDC, because the engine cannot yet pay fees out of its fee account directly.
How does the fee discount work?
Your active stake puts you in a tier, and each tier takes a percentage off your trading fees. The discount multiplies your 30-day volume tier, so a high-volume trader keeps both. The venue re-applies rates every fifteen minutes. Stake that is unbonding counts toward no tier.
How long does unstaking take?
Seven days from the request. During that time the amount earns nothing and gives no discount. You can restake it at any point before you withdraw it.
What is linking?
If your MIDS sits in a wallet you do not trade from, that wallet can lend its tier to your trading account. The trading account must accept, either side can end it, and the staking wallet waits a day after a link ends before it can link again. A lent tier gives the staking wallet itself no discount.
What can go wrong?
Staking is a smart contract, and contracts can have bugs; this one has unit, fuzz, invariant and live-chain tests but has not had an external audit. The value of MIDS can fall while it is staked and while it is unbonding. Rewards depend on venue fees and can be zero in a quiet week. There is no slashing: Midas Chain has no validators, so nothing you stake can be taken for someone else's fault. No role in the contract can move a stake or a reward; the guardian can only pause new stakes. This is a testnet: MIDS and TestnetUSDC here have no market value.
Contract: 0x902BDDB74489978b8761a12BbDD9b70689df0842 on Midas Chain, source published on the explorer.