1. About WOO Staking
Since Q4 2024, WOO X transitioned from an inflationary emissions model to a sustainable onchain model for WOO Staking. WOO Staking (on WOO X) has integrated with WOO Stake (previously WOOFi Stake), a smart contract-based staking platform that transparently collects and distributes fees collected from onchain swaps and trading to all WOO stakers. WOO X has completed the migration of all of its staking positions to WOO Stake. In short, when you stake WOO on WOO X, you’re essentially staking onchain and receiving onchain yields, all without the hassle of onchain complexities.
1.1 Who can use WOO Staking?
After completing KYC level 1 verification, you can access WOO Staking.
1.2 What about my existing staking positions?
For existing stakers, no further actions are required for your staking positions on WOO X. The system automatically reconciles all staking positions with the onchain smart contract daily.
1.3 How are yields determined?
As staking challenges on WOO X have been discontinued, the staking yield from WOO Staking on WOO X now depends entirely on actual onchain earnings through WOO Stake. WOO X performs daily reconciliation of staking transactions with WOO Stake—staking more when WOO X demand increases and unstaking as redemptions rise.
- The staking yield is determined by fees collected from onchain swaps and trading on WOOFi, as well as revenue sharing from WOO X. Higher market volatility generates more fees and higher yields, while quieter markets lead to lower returns. As WOOFi's market share grows, trading volume may increase.
- The WOO token price also affects staking APR. Because fees are collected in USDC, the protocol's ability to buy back and share WOO depends on its market price. Higher WOO prices require more USDC accumulation to match staked value, while lower prices typically result in higher APRs.
- The total amount staked also impacts returns. As more WOO tokens are staked, yields are distributed across a larger user base, which affects the overall APR.
1.4 Why is there a discrepancy between the staking APR on WOO X and WOO Stake?
WOO X provides a streamlined staking experience by acting as a unified staker on WOO Stake, efficiently managing staking positions for all WOO X users. Users receive a consistent and reliable APR derived from onchain earnings through this consolidated approach.
If you prefer a simple and straightforward solution, staking your WOO through WOO X is recommended as it eliminates the complexities of direct DeFi interaction. However, if you're interested in exploring additional earning opportunities, consider staking onchain directly with WOO Stake with your non-custodial wallet(s), where onchain staking challenges and quests can further boost your staking APR.
If you would like to monitor the onchain reconciliation between WOO X and WOO Stake, please visit https://arbiscan.io/address/0xde5D26Ad782C0084664309a07040f5C69a20092C.
2. Stake
Before staking WOO, ensure you have completed at least KYC level 1 verification and are accessing the product from a supported jurisdiction.
2.1 When will my staking positions start accruing yield?
You can stake WOO at any time using your available WOO in your Spot Wallet. After staking, your new staking amount will begin accruing yield the next day based on actual onchain earnings from WOO Stake. Yield calculations happen once daily at 00:00 UTC. Please note that staked WOO cannot be used for other purposes.
2.2 Is it possible to utilize staked WOO for other purposes?
Once staked, WOO can't be used elsewhere. Unstaking WOO takes 24 hours for settlement, during which no staking yields are earned.
2.3 Does WOO Staking support auto-compound?
Yes—WOO Staking offers auto-compounding for your staking position, which you can easily enable on the WOO Staking page.
When enabled, your daily yield automatically compounds into your staking positions. If disabled, your daily yield will be settled and transferred directly to your Spot Wallet.
3. Unstake
Currently we support two unstaking methods for WOO Staking:
- Standard unstake: No fees, with funds available in 24 hours
- Instant unstake: 5% fee, with funds available immediately
3.1 Standard unstake
If you have WOO staking positions on WOO X, you can unstake any amount of WOO tokens for free using the standard unstaking request. Once you submit a request, your unstaking WOO will stop accruing yield and will settle after 24 hours.
Note that:
- You can cancel standard unstaking requests at any time before full settlement.
- Cancelled requests automatically restake your WOO, which will be treated as a new staking amount and begin accruing yield the following day.
3.2 Instant unstake
For immediate access to your staked WOO, you can use instant unstaking. This option requires a minimum of 300 WOO and charges a 5% fee. Once confirmed, your unstaking amount will be settled immediately, with the proceeds (unstaking amount minus 5% fee) available in your Spot Wallet instantly. Note that instant unstaking cannot be reversed.