Membership
To become an ILIS DAO member, get yourself a Membership ID, and stake ILIS tokens to it.
Last updated
To become an ILIS DAO member, get yourself a Membership ID, and stake ILIS tokens to it.
Last updated
Real lovers of stability become members of the ILIS DAO. To do so, one can stake ILIS tokens to their Membership ID on the Membership page. As a bonus, staking ILIS also provides the staker with staking rewards!
Membership info
On the Membership page, the first thing a user can do is to either create a Membership ID, or select an existing one [1], and view its details, such as:
[2] Staked ILIS,
[3] Unstake ready, unstaking takes 7 days. The amount currently unstaking and ready to claim is shown.
[4] Locked until, one can lock their staked ILIS for an even longer period of time, to receive extra rewards. Locked tokens CANNOT be unstaked.
[5] Voting until, membership IDs are used to vote on proposals. Once a proposal has been voted on, one CANNOT unstake before the end of the proposal, to prevent double votes.
As we've seen in the previous category, it is possible to stake ILIS to the Membership ID, and to lock these staked tokens. Either action has it's own section.
Manage stake
To stake, go to the manage stake section and click the add stake selector [1]. Then, select an amount to stake [2]. You will then be presented with the new amount staked to this ID [3], the staking APY [4], and the unstake delay [5].
Unstaking is rather similar to staking: go to the manage stake section and click the remove stake selector [1]. Then, select an amount to unstake [2]. You will then be presented with the new amount staked to this ID [3], the staking APY [4], and the unstake delay [5].
Manage lock
A similar section exists for locking and unlocking stake. Here, a user can lock there stake for a longer period of time, and be rewarded for it. If they change their mind, they can also remove this lock, but this will always cost them more ILIS, than locking will have rewarded them! At the time of writing, this multiplier is 5.
To lock, the user goes to the Manage lock section, and selects the lock stake selector [1]. Here, they can choose the amount of days they want to lock their stake for [2], and will be presented with the amount of ILIS they receive for their locking [3], and the total amount of days their stake will be locked [4].
Unlocking is usually a rather bad deal. Still, if the user wants to unlock, they can do so via the Manage lock section, by choosing the unlock stake selector [1]. They can then select the amount of days to remove from their lock [2], and will be presented with the necessary ILIS payment to remove their lock [3], and their updated lock [4].
