Staking Benefits

Purpose and Functionality

Key functionalities of the $MAGNET token include:

Empowering Stakers

By staking $MAGNET tokens, you gain access to a unique system where you receive a 50% share of platform fees and 20% of the tax generated from MAGNET token trading. This mechanism not only allows you to actively participate in the platform's transactional activity but also solidifies $MAGNET as a fundamental asset for upcoming features within the Yield Magnet ecosystem.

Our Platform Fees

Yield Magnet accumulates fees from a variety of transactions to reward $MAGNET stakers and contribute to platform development. These fees are generated through:

  • A 2% deposit/withdrawal fee.

  • A 0.75% asset swap fee, which is deducted from the swapped asset.

Calculating APY

To give Stakers an accurate depiction of the current staking returns, the APY is provided on both the Home Page and the Staking Page of the DApp. The APY is calculated based on the distributions over a 7-day rolling window using the current TVL. This shows what a staker would of made over the last 7 days given the value currently staked.

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