Staking - For the Ape Hoarders

What is Staking?

Staking is the primary value accrual strategy of GGDAO. Stakers stake their GG tokens on the GGDAO Website to earn rebase rewards. The rebase rewards come from the proceeds from mint sales, and can vary based on the number of GG staked in the protocol and the reward rate set by monetary policy.

Staking is a passive, long-term strategy. The increase in your stake of GG translates into a constantly falling cost basis converging on zero. This means even if the market price of GG drops below your initial purchase price, given a long enough staking period, the increase in your staked GG balance should eventually outpace the fall in price.

When you stake, you lock GG and receive an equal amount of sGG. Your sGG balance rebases up automatically at the end of every epoch. sGG is transferable and therefore composable with other DeFi protocols.

When you unstake, you burn sGG and receive an equal amount of GG tokens. Unstaking means the user will forfeit the upcoming rebase reward. Note that the forfeited reward is only applicable to the unstaked amount; the remaining staked GG (if any) will continue to receive rebase rewards.

TLDR: You hoard and your GG multiplies.