We are writing this blog in response to the dilemma caused in the community due to forever staking. This guide is a comprehensive document that explains the step-by-step process for withdrawing your staked Arc Tokens with rewards from the ArcadeNetwork staking pool. The guide covers all the necessary information and requirements, including setting up a wallet, connecting to the ArcadeNetwork staking pool, and initiating the withdrawal process.
The Staking contract offers a reward rate equivalent to an APY of 218%.
The Forever Staking feature on ArcadeNetwork ended on 20th April and is not currently accepting new stakings. This document serves as a guide for users who previously staked tokens and wish to withdraw them.
Considering the queries received through the community, the current situation could be split into 2 scenarios
1. Tokens staked before 20th April: Tokens staked before 20th April: The tokens that were staked before 20th April had attracted some rewards which would have been collected and users could withdraw them as per their wish. The rewards were awarded till 20th April only and no reward was credited after that. The users on withdrawal will get both the staked tokens and their rewards into their wallets.
2. Tokens staked after 20th April: The tokens that were staked after 20th April did not undergo staking, thus no reward has been awarded for those staked tokens. Users withdrawing these tokens will only get back their staked amount of tokens.
The steps to withdraw the staked tokens with rewards are shared below and users can use this guide to get their queries answered. In case any more queries exist, users are requested to write on firstname.lastname@example.org.
Here are the steps for withdrawing your staked tokens from ArcadeNetwork Forever Staking:
- Navigate to portal.arcadenet.io
- Click “ArcadeNetwork Staking”
3. Select “Forever”
4. A warning message will appear notifying you that staking is no longer available and only withdrawals are allowed at this time.
5. Click “Connect Wallet”
6. Click “Stake Now”
7. Click the “With with Rewards” button