Ready to Make it Rain? $RAIN Staking Instructions.
Ready to Make It Rain?
Welcome to the Rainmaker Games staking guide. In this article you will find the information you need to stake your RAIN tokens and earn rewards.
Staking is available at: https://staking.rmg.io/
There are two types of staking:
Single-side staking — users deposit RAIN directly into the pool and earn staking rewards. This pool will receive 20% of the total daily rewards emitted by the staking reserve.
LP staking — users deposit their RAIN-ETH Uniswap LP tokens after adding liquidity to Uniswap. This pool receives 80% of the total daily rewards emitted by the staking reserve.
We implement a variable market rate staking methodology which allows the market to set the rate in both staking pools. Each day a fixed amount of RAIN is emitted by the staking reserve and split 80/20 into each of the pools.
The staking reserve is funded by the unsold tokens previously allocated to the Copper Launch. The reserve is currently seeded with 25,000,000 RAIN. The platform may increase the amount of RAIN available in the pool as tokens begin to vest and unlock from the Community Incentives reserve.
Rainmaker Games implements a linear bonus multiplier that increases the amount of token rewards for stakers that lock their tokens for a period of time. The longer the lock duration, the higher the bonus. Locked tokens cannot be unlocked once staked.
Below are examples of how the bonus multiplier affects rewards:
- No bonus — staker does not want to lock their tokens
- 1.25x bonus — staker locks their tokens for a period if 13 weeks
- 1.5x bonus — staker locks their tokens for a period of 26 weeks
- 1.75x bonus — staker locks their tokens for a period of 37 weeks
- 2x bonus — staker locks their tokens for a period of 52 weeks
The bonus reward calculation is based on the below formula:
How to Stake
Step 1 — Enter the staking portal
The first thing you need to do is enter the staking portal. This can be done by going to https://staking.rmg.io/ where you will be greeted with the ‘Overview’ page that shows some basic information and statistics about the staking portal.
Please ensure that you only follow the official links in this article.
Step 2 — Connect your wallet
The next step is to connect your wallet. Simply click the ‘Connect wallet’ button in the top right hand corner and you will see the screen in the image below pop up.
Currently we offer support for Metamask with future plans for other wallets.
Step 3 — Pick your preferred staking pool
After you have connected your wallet, you’re ready to start staking. The next step is to pick the staking pool of your choice. In the main overview, click the large ‘Stake’ button, which will open up the screen below. This will show you the available staking pools.
*Since 80% of the entire staking rewards will go to those providing liquidity, it’s important to understand how to provide liquidity on Uniswap V2 — Please scroll down for a small tutorial.
Please understand that providing liquidity on Uniswap V2 is required to stake. Those providing liquidity on Uniswap V3 will not receive rewards.
When providing liquidity, make sure you use Uniswap V2 via this link
Prior to staking your tokens, you might want to find out more about each specific pool. To do so, press the ‘Details’ button in white to see the following overview:
Following this, press ‘Stake’ to head to the next screen.
Step 4 — Pick your settings
You should now choose the settings that work for you. As mentioned above, you have the ability to choose between flexible and locked staking. Locked staking can increase your rewards over time depending on the duration of your lock.
Step 5 — Approve
After you have chosen your preferred settings, press ‘Approve’ as shown below.
A MetaMask prompt will then appear and you’ll have to confirm the transaction. Please review the transaction and the gas fees before confirming your transaction.
After you have confirmed your transaction, please wait patiently as the Ethereum blockchain has to confirm the transaction at the other end.
Step 6 — Staking
After you have approved the contract to spend your RAIN tokens, you will need to approve the second transaction to actually stake your tokens. Instead of ‘Approve’, you will now see ‘Stake’.
Once you press stake, A MetaMask prompt will appear and you’ll have to confirm the transaction. Please review the transaction and the gas fees before confirming your transaction.
Once the transaction is confirmed, you will see a pop-up notification saying ‘Transaction confirmed’.
Step 7 — Congratulations!
That’s all there is to it. Once the transaction is confirmed on the Ethereum blockchain, your tokens are then officially staked and you start collecting rewards straight away!
Providing liquidity on Uniswap V2
Step 1 — Uniswap overview page
The first thing you do is heading over to the appropriate Uniswap pool. This can be done using the following link: https://app.uniswap.org/#/add/v2/ETH/0x71fc1f555a39e0b698653ab0b475488ec3c34d57
When you’re on this page, click the ‘Provide liquidity’ button as indicated in the image below.
Step 2 — Enter the amounts
When providing liquidity you need 50% RAIN tokens and 50% Ethereum for this specific pool. In this step, you have to decide how many RAIN tokens you want to use to provide liquidity, and you will see how much ETH you need on the other hand. This is shown in the image below.
Step 3 — Approve
When you select the right amount, it’s time to approve the transaction by pressing ‘Approve RAIN’.
Once you press Approve, a MetaMask prompt will appear and you’ll have to confirm the transaction. Please review the transaction and the gas fees before confirming your transaction.
Step 4 — Supply
Once your transaction is confirmed, you should press Supply,
After you press supply, you see another screen pop up to confirm your transaction.
Once you press Supply a MetaMask prompt will appear and you’ll have to confirm the transaction. Please review the transaction and the gas fees before confirming your transaction.
Step 5 — Congratulations!
That’s all there is to it! You are now providing liquidity that can be used to stake on the Rainmaker Games staking portal.
How to claim your RAIN rewards
Claiming your rewards works in the same way as staking. You simply head over to the ‘Rewards’ tab and search for the pool that shows a positive balance in the ‘Claimable rewards’ column.
Start by pressing ‘Claim’ which will bring up a MetaMask prompt where you have to confirm the transaction. Please review the details and the gas fees before confirming your transaction.
Please be aware that rewards are subject to a 12-month lock.
About Rainmaker Games
We are the free global platform to play hundreds of P2E games — connecting gamers, games, and guilds worldwide.
Our platform allows gamers of all levels to join for free and start playing. They’ll get to seamlessly switch between games, manage earnings, watch game reviews, train, and chat with Rainmakers around the globe. As a player improves, they can level up to better NFTs and get Guild Verified to unlock access to scouting from top guilds around the world. We are the portal to P2E gaming — unlocking financial freedom for all and connecting the industry like never before.
Learn more at rmg.io