How to Join xCETUS Staking
Last updated
Last updated
1. Connect your wallet on the Cetus Web application: https://app.cetus.zone/ , and enter the xCETUS dashboard page from the navigation.
2. On the xCETUS dashboard, switch to the "Get xCETUS" tag, and enter the CETUS amount you would like to convert to xCETUS. Click "Convert" button to proceed.
3. There will be a pop-up window to notify you the vesting policy of the redemption (see description in No.8 below). Please make sure you understand the rules before confirming your converting request.
4. After converting CETUS to xCETUS, congratulations! You have already joined the xCETUS staking. You will receive your staking rewards once a week. You can see the countdown of the next reward distribution on the dashboard. And you can claim your rewards by clicking the "Claim" button after each-time distribution is completed.
5. One of the new updates to xCETUS staking is that, now the staking rewards are distributed in three forms of assets, including SUI, CETUS and USDC. This can give users a hybrid portfolio of staking yields. All rewards are supported by the orgianic trading fees generated on the Cetus Protocol. As the trading activity grows on Sui, the more yields can be earned by all stakers.
6. Apart from earning staking rewards, the xCETUS balance you own will also grant you a series of rights and privileges on Cetus, such as launchpad participation privilege, potential airdrops from Cetus partners, and more importantly, the governance voting rights on Cetus in the future.
7. If you want to redeem your CETUS back, you can start a redemption process at any time. Just switch to the "Redeem CETUS" tag on the dashboard first.
8. Please note that there will be a vesting duration for your redemption, from 15 days to 180 days upon your choice. A different vesting duration comes with a different redeem ratio. The redeem ratio increases in proportion to the vesting duration selected by the user. The maximum vesting duration of 180 days gives a 1:1 redeem ratio, while the minimum (15days) gives a 1: 0.5 redeem ratio.
9 After deciding a vesting duration and entering an xCETUS amount, you can see the amount of CETUS you will be able to get after the vesting duration is ended. Click "Redeem" if you confirm.
10. After confirming your redemption request, there will be a vesting record on your dashboard. You can claim your CETUS after the vesting period is ended. Also, you can "Cancel" your redemption at any time before the end of the vesting if you decide to activate your xCETUS again.
These are all the key information about xCETUS staking. You can check more details from here. If you have understood its mechanism and are interested in earning continual staking yields every week in long term and want to enjoy a privileged experience on Cetus, try it out on the website now!
