We are excited to announce the next step in our multi-chain staking of $MOD. The next round of staking will be on the Fantom Network on the decentralized exchange SpookySwap.
There are a few reasons why we have decided to change the exchange our liquidity will be on.
- TVL: Spookyswap $748 million vs SushiSwap 10.5 million
- 24 Hour Volume: Spookyswap $151 million vs SushiSwap $54 thousand
These numbers will allow us to have more eyes on MOD and save everyone money on possible slippage.
We will also be switching from the MOD/FTM pair to the MOD/USDC pair. This will lead to less impermanent loss for users.
The staking contracts will officially open for deposits on December 22nd at 9 PM UTC. The Fantom staking dashboard is available at https://dashboard.modefi.io/
Important: Staked tokens will be locked for the 90 day duration.
The first staking period will run for 90 days, rewards over these 90 days will be as follows:
- 36,000 $MOD for $MOD Staking
- 90,000 $MOD for MOD/USDC-LP Staking
Your rewards will be proportionate to your staked amount. Start staking early on to see the best results. All stakes will be locked in for the 90 day duration.
How to add the Fantom RPC to your wallet
Visit https://dashboard.modefi.io/ and select the button under “Fantom Network Staking”
Your Metamask will prompt to “Allow this site to add a network?”. Select “Approve”, then “Switch Network”.
You are now successfully connected to the Fantom Network and you should see “Fantom Opera” in your networks drop down within Metamask.
How to add liquidity to the SpookySwap MOD/USDC Liquidity Pool on Fantom
Step 1: (If your $MOD tokens are on the ethereum network)
Please click here and follow the instructions to bridge your $MOD tokens from the Ethereum network to Fantom if you haven’t already done so.
Step 2: (Add liquidity)
-Visit SpookySwap(Select the “Liquidity” tab for adding liquidity)
-Connect to Fantom Opera(top right side)
-Select “Add Liquidity”
-Approve “USDC” and “MOD”
-Select “Supply”
-Select “Confirm Supply”
$MOD Fantom Contract address
0xe64b9fd040d1f9d4715c645e0d567ef69958d3d9
You will receive spLP tokens that represent the percentage of your ownership of the liquidity pool.
The MOD/USDC-spLP token address is 0xC915d19f08Bebe65C47F3D31F6FD0268eF7Ad2AF and can be added to your Metamask wallet as a standard token.
Step 3: Stake-em
How to stake your spLP MOD/USDC tokens
Step 1: (Be sure you’re connected to the Fantom Opera Network)
-Visit our staking dashboard at https://dashboard.modefi.io/#/staking-rewards
-Select the Fantom Opera Staking
- Click the “Connect” button in the top right corner
-If you see your address in the top right corner you are connected successfully. Please make sure you are on the Fantom Opera network on your Metamask.
-Under “MOD / USDC spLP Staking” select the “Stake LP” button
-Enter the amount of spLP Tokens you would like to stake and select “Stake LP”
-You will be prompted with an approval transaction then following that the stake transaction. You will need Fantom in your Metamask to pay transaction fees.
Step 3: Kick back and collect the rewards as often as you’d like!
The average cost to claim your rewards on $Fantom is around $0.02 USD!
How to stake your $MOD tokens on Fantom
Please note: All stakes will be locked in until the end of 90 days.
Step 1: (If your $MOD tokens are on the ethereum network)
Please click here and follow the instructions to bridge your $MOD tokens from the Ethereum network to Fantom Opera Network if you haven’t already done so.
Step 2: (Be sure you’re connected to the Fantom Opera Network)
-Visit our staking dashboard at https://dashboard.modefi.io/#/staking-rewards
-Select the Fantom Network Staking
-Click the “Connect” button in the top right corner
-If you see your address in the top right corner you are connected successfully. If it shows “Wrong Network” please make sure you are on the Fantom Opera Network.
-Under “MOD Staking” select the “Stake” button
-Enter the amount of $MOD Tokens you would like to stake and select “Stake MOD”
-You will be prompted with an approval transaction then following that the stake transaction. You will need $FTM in your wallet to pay transaction fees.
Step 3: Kick back and collect the rewards as often as you’d like!
The average cost to claim your rewards on $FTM is around $0.02 USD!
Users staking $MOD will greatly benefit from the low transaction fees associated with staking on $Fantom.
Important Contract Addresses
Polygon($MATIC) Network $MOD contract address
0x8346ab8d5ea7a9db0209aed2d1806afa0e2c4c21
Binance Smart Chain Network $MOD contract address
0xd4fbc57b6233f268e7fba3b66e62719d74deecbc
Fantom Network $MOD contract address
0xe64b9fd040d1f9d4715c645e0d567ef69958d3d9
Ethereum Network $MOD contract address
0xea1ea0972fa092dd463f2968f9bb51cc4c981d71
Modefi: An Oracle Solutions Platform
Modefi’s mission is to bring decentralized trustless Oracle solutions to developers and businesses. Using multi-chain solutions Modefi is building interoperability that will drive adoption and true power to the blockchain ecosystem.
Website: https://modefi.io
Docs: https://docs.modefi.io
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