DFSocial Staking Guide
Staking DFSocial tokens via the DFSocial Staking Platform has attracted significant interest among the crypto community recently. This is due to the substantial returns that can be earned through staking. The project offers a very lucrative APY up to 750% on staked tokens (which equates to 14.4% weekly/ 2.04% daily). With a finite reward amount of 5000 DFSocial, staking is expected to last until at least August 2021 (the reality is that not all DFSocial are being staked, nor is there a likelihood that they will be. When farming begins around the beginning of January 2021, some holders will switch to farming. Therefore, there is a good chance that staking will last beyond August).
DFSocial is currently in the stage of token distribution. The max supply is 21k tokens, and with no minting function, you want to be getting your hands on as many of these as possible. At present, distribution is only happening via DFSocial/ETH trades on Uniswap, and staking (and once farming begins that can be added to the list). If you hold DFSocial tokens then you can deposit them on the DFSocial Staking Platform and start earning more DFSocial immediately!
And the process could not be simpler. Follow the steps below and you will be earning passive income in no time.
Please note that while I will discuss how to stake via Metamask desktop, Metamask mobile, Trust wallet and Coinbase wallet, the preferred method is always Metamask desktop. Your mobile will never be as safe as using a desktop computer. Nonetheless, mobile staking is possible and if that is your only option then it will suffice. Always make sure you have downloaded mobile web wallets from a trusted source (via official Twitter profile link etc).
NB: There is not a locking period when you stake. You are free to unstake and stake as you please.
Metamask desktop guide
1. Download Metamask extension for Chrome (https://chrome.google.com/webstore/detail/metamask/nkbihfbeogaeaoehlefnkodbefgpgknn?hl=en)
2. Make sure you have DFSocial added as a custom token in Metamask extension. Go to assets. Scroll to the bottom and click “Add Token”. Then, enter DFSocial contract code 0x54ee01beB60E745329E6a8711Ad2D6cb213e38d7. Click “Add”.
3. Using Chrome browser, navigate to https://dfsocial.com/staking
4. Connect Wallet.
6. Choose a pool. Above “Stake” enter the amount of DFSocial you wish to stake. Click “STAKE”. (Please note that you will be charged a 1% fee for staking. This is subtracted from the DFSocial you are about to stake).
7. Your Metamask extension will now open. The initial gas price is set at 180 but you will not have to pay this amount — click edit and select the average transaction fee. Click Save. This initial fee is to give Metamask permission to spend your DFSocial (all this means is that you give permission to send your DFSocial to the staking platform). Click save and then confirm.
8. Next you have to set the fees for the transaction. Again the initial gas price is set to 150. For staking you should set the gas price to at least 40 for the transaction to be successful. Click confirm and wait for the transaction to approve.
Congratulations!! You have now successfully staked your DFSocial and are earning up to 750% APY!
The next step is to claim your rewards:
- On the staking platform click “Claim Rewards”
2. There will be a gas fee, as with staking. Again, this is set to automatic 180. Generally setting the gas to 15–25 is sufficient for claiming. Click confirm. If the transaction is not successful within 5 mins then go to advanced settings in Metamask extension and click reset. This will void the pending transaction and you can then try claiming again with a higher gas price.
Once the transaction is successful you will see your claimed rewards in your balance.
If for any reason you have experienced technical difficulty whilst following this guide, please feel free to drop a message via DFSocial Official Telegram Group. One of the community will be more than happy to assist where possible.