Below is information on MonkeDAO's staking pool called DAOPool
DAOPool is MonkeDAO's staking pool which can be used to stake SOL and other assets for interest over time. Below is a quick video from CryptoG that gives a simple "how to" explanation on how it works!
DAOPool Liquidity Staking.mp4
Here is an outline of the steps in the video:
i. First, stake your SOL on MonkeDAO pool. You will receive daoSOL in return.
ii. Then stake your daoSOL on Saber. You will receive daoSOL-SOL liquidity tokens.
iii. You can now stake your daoSOL-SOL liquidity tokens, either on Saber or Sunny aggregator. If you stake your LP tokens to Saber you will receive rewards paid out in $SBR. If you deposit into Sunny Aggregator, you will receive both $SBR and $SUNNY.
iv. Or, if you also have USDC, you can stake your daoSOL-USDC on Orca.
- Before you start, make sure you have SOL in your (Phantom or Solflare) wallet. Do not stake all. Leave a little so you can cover the small transaction costs.
- To withdraw your SOL, reverse these steps in order starting with the aggregator. Then return the liquidity tokens so you can unstake on MonkeDAO pool. Your rewards will be added to your wallet at each step.
- If you get stuck go over the video again. Or just ask for help on Discord.
Links to the websites
1. Own Saber (SBR)
3. Choose the locking (1day to 5years) period, but remember locking your tokens implies you will NOT be able to transfer them to another address nor trade them. Once you lock your SBR you receive back veSBR (Voting Escrowed SBR), the longer you lock the more veSBR you receive.
4. You can now partecipate in Saber governance and cast your votes on proposals and gauges. What are Gauges?
5. When providing liquidity on Saber you receive SBR as reward, and each pool has a certain amount of rewards. With “Gauges” you can modify the allocation of rewards to the Saber liquidity pools.
7. Click on “Cast your vote” and choose the daoSOL/SOL pool. Choose the amount of votes you would like to cast (expressed by the amount of veSBR) into the pools.
8. Once votes are in and the next epoch start (1 epoch = 1 week) the new rewards will be applied to the pools.
9. What’s the whole thing about “Saber Wars” then?
Being able to vote how to allocate rewards creates lot of interesting dynamics. Here above in the central column you see “current rewards”, in the right column you will see “next epoch rewards”, all expressed in terms of SBR tokens released each day. What’s happening? On the mSOL/SOL pool the reward is going down from 17k -> 1k (-94%) whereas on the daoSOL/SOL pool it’s going up from 17k -> 60k (+400%). Wow! That’s a big difference from the previous epoch, and you now understand why the power of being able to change rewards/yields so much can create a “war” between the different pools and their participants.