How it Works

Proof of Stake (PoS) on the LUKSO network requires a deposit of 32 LYX to the LUKSO validator deposit contract, our smart-contract will register 1 validator per 32 LYX it accumulates from deposits or rewards and deposit it to the validator deposit contract to register new validators as soon as there is enough LYX in the contract.

Because of our non-custodial design, you can even send your LYX to our smart-contract address and always withdraw your LYX directly from the smart-contract.

All staking and MEV fee rewards will be distributed directly back to the pool's smart-contract and it will register new validators with the rewards, this is called auto-compounding which will significantly increase your rewards over time. The APY is dynamic and is a 7 day average of all validators in the pool. Stakingverse will receive a fee of 10% of the profits that are being distributed to the pool. This fee is used to cover the costs of running the pool and to develop new features.

When you want to withdraw your LYX, you can do it at any time at app.stakingverse.io (or directly from the smart-contract). When you want to withdraw a small amount of LYX you will receive it directly to the wallet that deposited it. If you want to withdraw a larger amount you will have to wait a couple of days before you can fully withdraw.

Step by Step Guide

1. Prepare a wallet address you want to use to stake your LYX. The address that deposits the LYX is the only wallet that is able to withdraw the funds. We recommend to use a Universal Profile with Ledger recovery and 2FA set up, or to deposit from a ledger connected to MetaMask.

2. Go to app.stakingverse.io and sign in with your Universal Profile or MetaMask.

3. Choose the amount of LYX you want to stake, click the deposit button and confirm the transaction.

4. You can monitor your rewards in the dashboard very soon.

5. If you want to withdraw your LYX, you can click unstake and fill in the amount you want to withdraw. A small amount (available in the pool) will be withdrawable immediately. If you want to unstake larger amounts, you will most likely have to wait in the queue, while the validators are unstaked on the LUKSO network. This can sometimes take several days. If you want us to speed up the process for unstaking a big amount, please send an email to contact@sigmatic.io.

Client Diversification

To make sure the network is secure and diversified, it is important to have a diverse set of clients running on the network. We are running our nodes on Erigon + Prysm clients while our partners at Universal Page will run their nodes on Geth + Lighthouse clients. This means you will improve the network security and client diversification by staking with us.

Contracts

All of the contracts we use are verified on the LUKSO Execution Explorer. You can find our contracts here:

• Pool Contract.