Staking of wsMINO tokens (wrapped sMINO tokens) provides our users with rewards fairly and transparently. sMINO tokens are received immediately when users deposit MINO on Minotaur Money, and wsMINO tokens are obtained by wrapping sMINO tokens. With wsMINO token staking, MINO token stakers receive multiple token rewards.
1. Stake wsMINO* → earn MMF
2. Stake MMF → earn MINO
* sMINO is staked as wrapped sMINO, wsMINO, to account for rebase rewards while wrapped
Therefore, not only do users obtain an additional yield token for staking sMINO, that yield token can also be staked to earn additional MINO tokens. This enables the following cycle:
The Circular Benefits of MINO Staking
These reward pools offer a fair, transparent method of managing our user rewards. The amount of DAO resources dedicated to these pools, which amounts to a user giveback, is available to be divided proportionally amongst all sMINO and MMF holders. We prefer this arrangement to alternate methods of managing user rewards, such as random sweepstakes, which some competitors have adopted.
In addition, the mutual nature of the pooling between MINO, sMINO, and MMF tokens provides each product's users with direct exposure to the other protocol, increasing awareness of and participation in both ecosystems.