BTC Staking
Last updated
Last updated
BTC staking on Motochef is very different compared to MOTO staking and Motoswap staking. BTC staking is non custodial and utilizes the Bitcoin UTXOs.
If you decide to stake BTC on Motochef, we HIGHLY recommend using a brand new wallet which you will use for no other purpose, as if you conduct a transaction which splits the staked UTXO, you will automatically unstake your BTC and abandon your earned rewards.
This is important because we charge a 1% fee every time you stake BTC.
To stake BTC, simply select the BITCOIN dish from the dish menu on Motochef. Then click the "Stake your BTC" button at the bottom.
You will then be prompted to select the amount of BTC you wish to stake. Make sure to remember to save a little bit for gas. Once you've confirmed your BTC staking amount, click the "Stake Now" button.
After continuing, you will be presented with a warning. Please read this carefully to understand the risks. It is recommended to use a brand new wallet solely for staking your BTC.
Once you've read and understood the warning, type "confirm" in the text box, and click the "Continue" button.
After clicking "Continue", you will be prompted to sign the transaction, once it is sent and confirmed, you have successfully staked your BTC on Motochef.
To unstake your BTC and claim rewards, simply click the "Harvest & Unstake" button. Please note that you may not claim your rewards without unstaking your BTC, and you may not partially claim either of them.
You will then be prompted to confirm your decision to unstake your BTC and harvest rewards.
After confirming, sign the transaction in your wallet, and you have successfully claimed and unstaked.
