Earn Fees By Staking
Last updated
Last updated
$MST serves as the governance token for the Meridian Finance protocol, allowing its holders to earn a majority of the fees generated by Meridian Finance products - Meridian Mint, Lend, Trade & Swap. MST has a capped supply of 10 million tokens and is distributed across all networks using the LayerZero OFT standard, using Meridian's Bridge.
Note that fees earned through the Meridian Mint platform on Telos & Base are distributed via the Meridian's Mint Staking Pool and the 'Stake' section.
To deposit to the Staking pool and start earning fees users first need to acquire MST. This can be achieved by either supporting the Stability Pool on Base or purchasing MST on the open market via leading DEXs.
More information on staking and expected return calculation can be found here
Go to the Staking portal & connect your wallet.
Click 'Stake', choose your preferred lock time (which will increase your net pro-rata allocation in fees accumulated)
Confirm the amount of MST to stake, click 'Approve, and confirm the transaction on your wallet.
Click 'Stake' and confirm that transaction as well.
Once the transaction is confirmed you will be shown your staking dashboard, this includes the size of your stake, your lock time, and your accumulated gains,
Go to the Staking section of the main Meridian dashboard and click - 'Start Staking'
Enter the amount of MST you wish to stake, confirm the amount and then confirm in your wallet
Once the transaction confirms you will be shown your staking dashboard, this includes the size of your stake, your share of the pool and the accumulated gains from redemptions and new USDM borrowing.
Initially the accumulated gains will be zero as earnings only start from when you enter the pool and they may also show slightly lower than your actual gains as the values only update whenever someone interacts with the protocol.
You can adjust your staking position at any time by selecting 'Adjust' on the staking card. Whenever you do adjust your position all gains up to that point will be transferred to your wallet and you will start earning again at the new rate dictated by the adjustment
