Staking and Unstaking
Last updated
Last updated
The logic of staking is relatively simple. Staking is the main source of revenue for users who participate in OpenFi. It is designed to reward OpenFi consensus holders and $OPEN holders. For participants, the best way to generate passive income is to hold $OPEN for a long time. The protocol will automatically distribute and compound interest.
After entering the official website and selecting "staking", participants can send $OPEN tokens they hold into the staking contract, and at the same time, they will get $sOPEN at a ratio of 1:1. $sOPEN is a credential for users who participated in staking, and it has no other purpose other than holding. Vice versa, when the user releases the mortgage, they will send $sOPEN to the staking contract and get $OPEN at a 1:1 ratio.
