Neptune Mutual’s Gamified Testnet Now Live on Avalanche
It’s here at last! The Neptune Mutual gamified testnet is now live on the Fuji Network.
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Our Staking and POD Staking features will focus on rewarding liquidity providers and token holders.
Besides being user-centric, Neptune Mutual is also a community-centred protocol. We believe that blockchain projects thrive and achieve greater goals because of their communities.
It is our mission to bring together user communities and gather support for their favourite protocols by becoming liquidity providers.
That’s why we’re so excited to let you in on our latest features release tomorrow — Thursday, March 24, 8 AM HKT.
Our new Staking and POD Staking features will focus on rewarding liquidity providers and token holders on the Neptune Mutual platform.
Read on to find out how each unique feature works and rewards liquidity providers.
Staking NPM tokens is one of the most important features of the Neptune Mutual protocol. Neptune Mutual’s Staking feature intends to generate rewards for NPM token holders and liquidity providers.
Step 1: To stake NPM tokens, go to [Pool] at the topmost portion of the homepage.
Step 2: Go to the [Staking] tab.
Step 3: Once there, choose the cover card you want to stake NPM tokens on.
On the cover card, you’ll find the cover’s:
Take note: On the testnet, the lockup period is set for 5 minutes to make testing more convenient. NPM tokens can’t be withdrawn during the lockup period.
Okay, now back to staking…
On the cover card, you’ll find the [Stake] button.
Step 4: Click [Stake] to stake NPM tokens for the cover of your choice.
Step 5: Enter how many NPM tokens you want to stake.
Step 6: Click [Approve NPM].
Step 7: Confirm your stake from MetaMask until the platform approves it.
Step 8: After that, click [Stake].
Step 9: Confirm the following MetaMask transaction to stake NPM.
Rewards and Stake Withdrawal
Find your share of staked NPM tokens and rewards generated on each of your active covers.
Step 1: You can supply more NPM to your cover pools by clicking [+].
Step 2: Click [Collect] to withdraw your share.
You can harvest token rewards generated by clicking [Collect] under the Harvest tab.
Step 3: Click [Confirm] from the MetaMask notification to complete the transaction.
Under the Withdraw section, you can fully or partially withdraw your staked NPM.
Step 4: Enter the number of NPM tokens you want to withdraw.
Step 5: Click [Unstake].
Step 6: Confirm the transaction request from MetaMask and wait until your stake withdrawal is successful.
Cover creators can offer their project’s native tokens to attract and incentivize liquidity providers.
Liquidity providers will each receive an equivalent Proof of Deposit (POD) to their staked asset of stable cryptocurrency in DAI.
As a liquidity provider, you can stake PODs in the Neptune Mutual pool to earn greater returns called Shield Mining Rewards.
Step 1: To stake your POD, go to the [Pool] tab at the topmost part of the homepage.
Step 2: Next, go to the POD Staking section right beside Staking.
You’ll find the cover cards available you can supply liquidity to. Every cover will have its respective card to stake PODs.
Just like with staking…
You’ll find the cover’s APR, lockup period, and TVL on the cover card. Scroll back to the Staking section of this blog to review what these terms mean.
Note: For the testnet, the same 5-minute modified lockup period with Staking will apply to POD Staking. Again, users can’t withdraw NPM tokens during the lockup period.
Step 3: Click [Stake] for the cover you want to stake PODs on.
Step 4: Enter the amount of POD you want to stake.
Step 5: Confirm the transaction request from MetaMask and wait until your POD stake gets approved.
Register on Gleam to join the NPM ‘Unlock the Gold Vault’ protocol testnet contest.
Explore Neptune Mutual’s other unique features: