Staking Platform
Introduction
BitStake staking Platform provides a seamless and user-friendly experience for dealing with yield-generating tokens. With BitStake Protocol, users can visualise their tokens, check balances, transfer tokens to other wallets, stake tokens to earn rewards, unstake tokens, and monitor their realised & unrealised rewards.
We have explained the concept of staking/unstaking in previous pages. This documentation will guide you through major functionalities and working of BitStake’s staking platform. BitStake staking platform has the following features:
BitStake Dashboard
Visualize yield-generating tokens
Check balance of yield-generating tokens in your wallet
Transfer yield-generating tokens to other wallets
Stake yield-generating tokens
UnStake yield-generating tokens
Tracking realized/unrealized rewards
1.1 BitStake Dashboard
The dashboard serves as a centralised hub for managing your yield-generating tokens, staking and unstaking activities, and tracking rewards. It provides an intuitive and user-friendly interface to access all the features of BitStake Protocol.
1.2 Visualizing Yield-Generating Tokens
BitStake Protocol provides a visual interface to view all your yield-generating tokens. Through the BitStake Dashboard, you can easily see a list of the tokens you hold and their respective yields.
1.3 Checking Balance of Yield-Generating Tokens
With BitStake Protocol, you can quickly check the balance of your yield-generating tokens. The BitStake Dashboard displays the current balance of each token, allowing you to monitor your holdings.
1.4 Transferring Yield-Generating Tokens
BitStake Protocol supports the transfer of yield-generating tokens to other wallets. Using your compatible wallet, you can initiate token transfers to recipients of your choice. Ensure that the receiving wallet supports the specific token you wish to transfer.
1.5 Staking Yield-Generating Tokens
One of the key features of BitStake Protocol is the ability to stake yield-generating tokens. By staking your tokens, you can participate in a staking program of respective tokens and earn rewards. The BitStake Dashboard provides an intuitive interface to stake your tokens securely.
1.6 Unstaking Yield-Generating Tokens
BitStake Protocol allows users to unstake their tokens when desired. By initiating the unstaking process through the BitStake Dashboard, you can retrieve your staked tokens along with any accrued rewards. There might be a minimum holding limit set by token deploy by which you will receive awards only if you hold it for that blocks duration. Check staking/unstaking pages in this gitbook.
1.7 Tracking Realized and Unrealized Rewards
BitStake Protocol provides real-time tracking of your realized and unrealized rewards. The BitStake Dashboard displays the current status of your rewards, allowing you to monitor the growth of your staked tokens.
Supported Tokens & Wallets
BitStake Staking Protocol is compatible with BRC-20 tokens which have 'yield' parameter in their deploy method of BRC-20 type tokens. With respect to wallet support, it currently works with Unisat wallet. We will keep on adding more wallets if required.
Prerequisites
Before using BitStake Protocol, make sure you have the following:
A compatible wallet (unisat) with BRC-20 token support.
Yield-generating tokens in your wallet that are supported by BitStake Protocol.
Summary
BitStake Protocol offers a comprehensive solution for managing yield-generating tokens. By providing features such as token visualization, balance checking, token transfers, staking and unstaking capabilities, and reward tracking, BitStake Protocol simplifies the process of interacting with and maximizing the potential of your yield-generating tokens.
Additional Resources
We encourage our supporters to provide more user friendly threads/videos/tutorials explaining how to use BitStake Protocol. We will keep adding them here!
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