Datamine is a gateway into next-gen Deflationary Monetary System that is ownerless, immutable, audited and ran completely by the community.
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- How to Stake DAM?
- How much can I earn Staking DAM?
- Any risks to Staking DAM?
The process of staking DAM is rather easy but requires multiple steps for you to achieve the full bonus effect.
To start get some DAM and visit the Datamine Dashboard, next click the enable button to allow FLUX Minting, and then click “lock-in” to enter total DAM tokens to Stake. After locking in your DAM you will start minting FLUX dividend.
Visit our How to Stake DAM Step-by-Step Staking Tutorial for a full walkthrough on how to Stake DAM.
Certain multipliers can increase your FLUX dividend rate by up to 30X.
Your bonus for burning FLUX can be up to 10X and your bonus for Time can be up to 3 X.
In the two reward options outlined on Staking Rewards we show a scenario with 1X Burn rate and 10X Burn rates, neither account for any time bonuses.
There is smart contract risk associated with staking DAM as these are Ethereum smart contracts you will be interacting with. There is no minimum required or forced lockup period when staking DAM. You should consider ethereum gas costs when interacting with the staking smart contract.
Also if you are providing liquidity on Uniswap you should make yourself familiar with impermanent loss and the concept of flash loan attacks.
Other than what is outlined above, we consider Staking DAM to be relatively low risk.