Staking and Revenue Sharing
Last updated
Last updated
Mendi Finance is a real-yield protocol, which means that 100% of the revenue is shared within the Mendi DAO with the stakers. Unlike other protocols the core team is not taking a certain % of the protocol revenue for themselves rather than distributing it to all interested stakeholders. Additionally revenue from the POL in the form of oLYNX is also shared with the stakers.
sMENDI and uMENDI represents the staked version of $MENDI. The main goal for staking is to distribute protocol revenue and oLYNX rewards with stakers.
Stakers will receive 80% of the protocol revenue and 80% of oLYNX rewards for the first 3 months. After team tokens start to get unlocked, stakers will begin receiving 100% of the protocol revenue.
Protocol revenue is generated by charging a fee based on reserve factors for different pools. The riskier the pool, the more fees will be generated this way.
There will be two different pools for staking. One of them will be sMENDI, where the rewards will be used to buy MENDI from the market and distribute it to sMENDI stakers. The other pool will be uMENDI, where the rewards will be used to buy USDC from the market and distribute it to uMENDI stakers.
Reward tokens are shared with stakers on a weekly basis due to Lynex epochs.
When you decide to unstake, there will be a one-week delay. For example, if you staked and wish to unstake on July 20th, 2023, you will be able to withdraw your tokens on July 27th, 2023. This precaution is in place for just-in-time stakers.
