SheepDex DAO Tutorial

Users can exchange vSPC with SPC, and then they can stake their vSPC on SheepDex for BNB rewards. There is a 30-day lock-up period for the staked vSPC.

Part one: Exchange

Exchange:

Step 1: Click Stake to exchange the vSPC of the same amount;

Step 2: Click Redeem and redeem your SPC with vSPC, which will be charged a 7% fee (the fee will be burned).

Authorization

You need to allow SheepDex protocol to use your SPC if it’s traded on SheepDex for the first time.

Stake

Enter the amount of SPC that you want to exchange and click on the Stake button to confirm the exchange.

Redeem

Enter the amount of vSPC that you want to redeem, and click Redeem to confirm the exchange. The amount of SPC you’ll receive will be the amount after deducting the 7% fee.

Part Two: Deposit vSPC:

How to Stake/ Deposit Your vSPC:

Click the Operation button to get the transaction fee rewards through staking vSPC (which can be locked up for 30 days, and redeemed on maturity). You will earn fees based on your share of the pool, which is similar to liquidity provisioning (LP).

Authorization

Allow ShepDex protocol to use your vSPC if it’s traded on SheepDex for the first time.

Stake

Enter the amount of vSPC and click the Skate button below. After staking, it will be locked up for 30 days, which cannot be withdrawn until maturity.

Withdraw your vSPC

Enter the amount of vSPC that you want to withdraw by clicking the Withdraw button below after the lock-up period.

How to claim your rewards:

Your rewards will be shown here. You can click Claim for it.

How to stake more vSPC:

Your lock-up period will be extended if you wish to stake more vSPC.

How to calculate the unlocked time?

Unlocked Block = Current Block + the amount of Current Unlocked Block * (Original Amount / Total Amount) + Lock-up Period * (Amount Added / Total Amount)

Remarks:

Original Amount = the original amount of vSPC;

Total Amount = the original amount of vSPC + the amount of vSPC added;

Lock-up period = 30-day blocks = 88600.