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Liquid Staking with stCORE

Introduction​

The Liquid Staking with stCORE enhances the utility of the CORE token while simplifying the staking process. This guide provides a detailed walkthrough for minting and redeeming stCORE, a valuable tool for CORE token holders seeking to maximize their assets' potential.

Getting Started: Prerequisites​

  1. Ensure CORE Token Availability: Verify that your Core chain wallet contains the necessary amount of CORE tokens for staking.
  2. Access the Staking Platform: Visit Core Liquid Stacking Platform
  3. Wallet Connection: Connect your wallet to the platform.

Key Definitions​

  • CORE Balance: The amount of CORE tokens in your wallet.
  • stCORE Balance: The amount of stCORE tokens in your wallet.
  • CORE in Redemption: A 7-day unlocking period for withdrawing CORE after redemption initiation.
  • Reward Rate: The annualized return projection for holding stCORE.
  • Conversion Ratio: A dynamic value reflecting the stCORE/CORE or CORE/stCORE ratio, influenced by the Earn contract's staking activities.
  • stCORE Supply: Total minted stCORE tokens.

Minting stCORE​

  1. Initiate Minting: Click on 'Mint stCORE'.
  2. Specify Amount: Enter the desired CORE amount to convert into stCORE.
  3. Confirmation: Click 'Confirm' to proceed.
  4. Wallet Transaction: Approve the minting transaction in your wallet.
  5. Add stCORE to Wallet: Click on the + sign to add stCORE.

minitng-stCORE

Redeeming CORE from stCORE​

  1. Start Redemption: Click 'Redeem CORE'.

  2. Enter Amount: Specify the stCORE amount for redemption.

  3. Confirmation: Click 'Confirm'.

  4. Wallet Approval: Confirm the redemption transaction in your wallet.

  5. Unlocking Period: A 7-day wait period begins. Track progress under the “In Redemption” section.

  6. Withdrawal: Post-unlocking, click 'Withdraw' to transfer CORE to your wallet.

minitng-stCORE