Stake SOLAR to earn 125% APR as ROME rewards
Stake SOLAR to earn 125% APR as ROME rewards
What is SOLAR, how to stake it, how to claim rewards and more..
Disclosure: Members of our team are participating in the following farms. This statement is intended to disclose any conflict of interest and should not be misconstrued as a recommendation to purchase any token or participate in any farms. This content is for informational purposes only and you should not make decisions based solely on it. This is not investment advice. Please exercise extreme caution if you intend to participate in these opportunities.
Table of contents
What is SOLAR?
What is ROME?
How to earn ROME by staking SOLAR?
What is SOLAR?
SOLAR is the governance token of Solarbeam, the leading DEX on Moonriver by volume. 70% of all newly minted SOLAR is distributed among Liquidity Providers to incentivize them to stake their LP tokens.
What is ROME?
ROME is a decentralized reserve currency similar to OHM, backed by the RomeDAO treasury. Unlike stablecoins, ROME is free floating but has a theoretical floor price determined by the amount of stablecoins in the RomeDAO treasury at anytime.
How to earn ROME by staking SOLAR?
Go to the Stake page and Connect your wallet. This enables the app to view the funds in your account.
Select the SOLAR pool with the rewards in ROME and enter the amount of your SOLAR you want to stake. If you don’t have SOLAR, you can buy it from the Swap page.
Click on Approve & Stake and confirm the transaction prompts in your wallet. You may need to sign two transactions - one to approve the app to use your SOLAR and the other to stake it.
🎉 Congratulations! You have successfully staked SOLAR.
Go to My staking pools to see your staking pools. You can see your holdings and pending rewards on the sidebar to the left. Click on Harvest All to claim your ROME rewards.
SECRET BONUS: You can put your ROME to use by staking it in RomeDAO and earn an unbelievable APY of 175,000%. We have already written about this in a previous newsletter.
NOTE: Please exercise extreme caution if you intend to participate in these opportunities. Happy farming!
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