💫Staking PALM

Stake your PALM tokens for PALM and vePALM to get reduced fees and boosted PALM APRs.

What is PALMand vePALM?

PALM is the Palm Finance protocol token. In the future, $PALM will be transformed into a governance token. Users can be able to accrue vePALM by staking PALM, which can be used to increase yields and reduce auto-compounding fees in the near future. PALM rewards for vePALM staking are also coming soon. To start staking vePALM, all you need to do is deposit your PALM tokens into the vePALM contract. To learn more about vePALM, see Tokenomics.

vePALM can be be used for four things:

(1) Boosting $PALM rewards for stability pool staking

(2) Boosting $PALM rewards for liquidity providing for PUST.

(3) Reducing the protocol’s cut of yield on deposited assets (PUST rebates)

(4) Getting access to special strategies like Pandora's box

Stake PALM for vePALM

• New Staked Amount - The amount of PALM you want to stake + the amount of PALM currently staked in the vePALM contract.

• New vePALM Accumulation Rate - The updated amount of vePALM you are expected to accrue per week.

Press Deposit and the Confirm Deposit modal will show up. Click Deposit on the Confirm Deposit modal and confirm the transaction.

Check Your Balance

The Your Balance section shows the Total Amount Staked, Hourly vePALM Accumulation, and Current vePALM.

• Total Amount Staked - The amount of PALM you have staked in the vePALM contract.

• Hourly vePALM Accumulation - The hourly amount of veYPALM, you will gain over time. This is based on the amount of PALM you have staked.

• Current vePALM - The amount of vePALM you have currently gained in total.

Withdraw your PALM

If you decide you want to withdraw your PALM tokens, click the Unstake section. Type the number of PALM tokens you wish to unstake and hit Unstake to execute the operation.

Unstaking any PALM will lead to the loss of all the vePALM you have accumulated.

When the Confirm Unstake modal pops up, click Unstake to withdraw your PALM. With this, your New Total Staked PALM should go down, and you have successfully unstaked your PALM.