How to stake
Lending pools mitigate risk by rewarding stakers who add to the stake locker contract. Value held in the stake locker is at risk of being liquidated to protect lenders under default conditions. As a reward, stakers earn a percentage of the interest generated by pool borrowers. This is percentage changes with each pool. Stakers will also have liquidity mining opportunities in select pools.
1. Deposit both MPL and USDC to the MPL:USDC 50:50 Balancer Pool in exchange for Balancer Pool Tokens (BPTs).
IMPORTANT: While the best method is to deposit a combination of both MPL and USDC, there is an option to deposit only one asset. The difference between the two methods is price slippage as for the same dollar amount, you get a better value (more BPT on deposit, fewer required to withdraw) by doing multi-asset provision rather than single-asset. That is because single-asset always requires an implicit swap which impacts the pool's pricing.
2. Head to the Maple webapp and browse the two available lending pools. Once you have made your selection on which pool(s) you'd like to stake, click into the Pool Dashboard, connect your wallet, and scroll to the "Your Staking" section.
3. Click "Deposit" and specify how many BPTs you'd like to stake. Please note this transaction requires ETH for gas payment.
4. Once you have confirmed your staking, you will have Pool Cover Tokens (PCTs) which represent your share of the staking reserve. At this point, you will begin earning USDC yield. To earn MPL rewards, you must stake your PCTs in the MPL Rewards (Stakers) section. This requires an additional transaction to complete.
