More About the MiniPanther + Dark Knight Staking Partnership
Earlier today, we announced that MiniPanther and Dark Knight have formed a staking partnership! You might be wondering: What does this mean for me, and exactly how do I participate? Well, here are some instructions!
- Receive MP by buying from the market or as a staking reward on Dark Knight
- Stake MP on MiniPanther, automatically receive sMP receipt tokens
- Wrap sMP to receive wsMP, a container token that receives all of MP’s rebases
- Stake wsMP on Dark Knight to receive dKnight tokens
- Stake dKnight tokens on Dark Knight to receive MP
This cycle gives MP stakers double rewards! You get both MP rebase staking benefits and dKnight bonus yield.
This is because the wrapped staked MP (wsMP) token represents the value of MP plus all of its rebase staking rewards. You receive rebase staking rewards with wsMP the way you do with sMP (the regular staked MP token), but the number of tokens stops changing during every rebase when you wrap.
Your dKnight tokens can also be staked to earn MP, creating an incredible cycle of yield that compounds from multiple sources!
Another part of the staking agreement is the following pool:
Stake MP-FTM LP → earn dKnight
This will incentivize liquidity hosted on Dark Knight and bootstrap deeper liquidity for MP! Additional liquidity will be extremely helpful during the bootstrapping phase, as it will allow people to purchase larger amounts of MP for bonding and staking.