Pre-Mainnet Staking

Overview

DegenLayer is launching a pre-mainnet staking program to build community engagement before our Layer 2 mainnet deployment. This program rewards early adopters who demonstrate commitment to the ecosystem by staking assets.

The goal of staking is to attract assets to our platform so that at mainnet launch there is a lot of users and liquidity available for memecoin trading.

Staking is available in our app and in our Telegram bot.

Supported Assets

• DELAY (DegenLayer token)

• ETH

• USDC

• USDT

Staking Process

1. Connect your Web3 wallet

2. Choose your asset and amount

3. Approve the contract

4. Deposit assets

5. Start earning DELAY rewards immediately

Important Conditions

• Deposits: Assets are locked until mainnet launch (estimated for January 2025)

• Rewards: Accrue from time of deposit, claimed on mainnet once it's live

• APY: Dynamic rates adjust based on:

  • DELAY token price

  • ETH price

  • Total value deposited

  • Asset type

Mainnet Launch

• Expected Timeline: January 2025

• Migration Process:

  1. Assets will be bridged to mainnet

  2. User-friendly migration interface provided

  3. Rewards claimable after successful bridge

Reward Distribution

• Rewards start accumulating immediately after deposit

• Claim process:

  1. Wait for mainnet launch

  2. Bridge assets using our interface

  3. Claim accumulated DELAY rewards

Security

• Smart contract audited

• Time-locked deposits, until mainnet launch

• Owner-controlled withdrawal activation - we can trigger ability to withdraw should there be any delays

Risk Considerations

• Locked assets until mainnet

• Dynamic APY can fluctuate

• Standard smart contract risks

• Mainnet launch timeline subject to change

Staking Smart Contract

• Deployed on Ethereum - 0xD18DECe8bB360B49aD9a1E5713AdFd1DF8Ad2388
• Open source code, Verified on Etherscan