Mercor | 1.0 | Staking $MRCR

Stake MRCR to access platform functionality
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By Algofier

Updated

2/21/22

Staking on Mercor is a simple process requiring only a few clicks. Staking $MRCR will give you access to the platform, allowing you to invest in (and develop) algorithms.

Step 1
  • Go to Mercor Finance website (https://app.mercor.finance)
  • If you are not already a $MRCR holder, press the "Buy" button under the "Staked" menu. This will take you to PancakeSwap where you can purchase $MRCR tokens.
  • Note: If the token address is not automatically filled in, please make sure to manually insert the correct token address: ' 0x155dab50f1dded25c099e209e7b375456a70e504'
Step 1

Step 2

Connect your Web3 wallet (we will be using MetaMask in this guide) and make sure your network is set to Binance Smart Chain. A guide for setting this up can be found here: Connecting MetaMask to Binance Smart Chain. If you are using TrustWallet please follow the following guide: How to Set Up and Use Trust Wallet for Binance Smart Chain. You can also find the guide links in the sidebar.

Step 2

Step 3

Next, click on the "Stake / Withdraw" tab.

Step 3

Step 4 asdkjasd

 

  • Input the amount of $MRCR you wish to Stake and click the button below to proceed.
  • Confirm the transactions in your Web3 wallet. Do not adjust the default Gas Price & Limit.
  • Now you can see your staked $MRCR tokens in the "Staked" tab.
  • You can unstake your $MRCR tokens from the platform by clicking the "Withdraw" button.
Step 4 asdkjasd

Step 5 - Burning Fees

 

Unstaking $MRCR tokens incurs a burning fee. This burning fee has three main reasons.

  1. 1.Deflationary aspect of the token.
  2. 2.Demotivating early withdrawals.
  3. 3.Mercor Foundation fund (funds that will be used to offer additional development opportunities).

The burning rates look as follows but are subject to change during the development of the platform.

Step 5 - Burning Fees

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