What is Liquid Staking Derivatives (LSD)?
LSD represents a significant technological advancement in the realm of cryptocurrency, offering an effective solution to the liquidity challenge in staking assets on Proof of Stake (PoS) networks. Leveraging the MetaHub platform, we introduce an innovative and distinctive solution: users can stake $MEN tokens and receive derivative tokens called stMEN. These tokens not only represent the staked assets but also create a new avenue for enhancing liquidity. The stMEN tokens are designed to enable users to trade on Decentralized Exchanges (DEX) and earn rewards from their staked assets, all while enjoying various additional privileges.
The process of generating stMEN tokens is executed through secure and reliable steps. Users first lock their $MEN tokens into the LSD smart contract. Upon completion of the token locking process, stMEN tokens are minted and can be freely traded on DEX platforms.
The LSD function allows you to lock MEN tokens to receive stMEN at a 1:1 ratio and choose a 30-day or 60-day lock period.
Benefits of locking MEN tokens for 30 days to receive stMEN:
Increase your Affiliate Level by one for every 1000 stMEN owned.
StMEN is tradable on DEX.
Benefits of locking at least 10,000 MEN tokens for 60 days to receive stMEN:
Increase your Affiliate Level by one for every 1000 stMEN owned.
StMEN is tradable on DEX.
0% Selling Tax on Uniswap when you have at least one “Lock” order of 10,000 $MEN remaining for 60 days.
*NOTE: The Smart Contract will automatically update the condition index of the LSD based on the market volatility
When you transfer StMEN, you forfeit the right to unlock MEN tokens for the corresponding amount. Recipients of StMEN from others will have a 30-day unlock waiting period.
