Snowbank DAO
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Stake Your SB (3, 3)
Staking allows you to earn SB passively via auto-compounding. By staking your SB with Snowbank, you receive sSB (staked SB) in return at a 1:1 ratio. After that, your sSB balance will increase automatically on every epoch (8 hours) based on the current APY.
The sSB address on Avalanche is 0xE9Eb40d52CE4744322204d4a29Af63C30f0260a4.

How to Buy SB

  1. 1.
    Go to this TraderJoe.xyz swap page.
  2. 2.
    Make sure the output currency is SB. You can also copy and paste SB contract address in the output currency field to ensure you are swapping the right token. The SB token address on Avalanche is 0x7d1232b90d3f809a54eeaeebc639c62df8a8942f.
  3. 3.
    You can select any input currency based on your available wallet balance. We recommend MIM-SB pair for the deepest liquidity!
  4. 4.
    Select the amount of SB you want to swap for. Then click "Approve" and sign the transaction.
  5. 5.
    After the "Approve" transaction has been processed successfully, click "Swap" and sign the transaction.
  6. 6.
    You should see SB in your wallet balance now after the swap transaction is successful. If you cannot find it in your wallet, add SB contract address to your wallet.
Note: The "Approve" transaction is only needed when you swap SB for the first time; subsequent swapping only requires you to perform the "Swap" transaction.

How to Stake

  1. 1.
    Go to the Stake page of the Snowbank website. Select the "Stake" tab.
  2. 2.
    Enter the amount of SB that you would like to stake in the input field. If you would like to stake all your SB, press the "Max" button and the input field will be populated with all your available SB balance.
  3. 3.
    Click "Approve" and sign the transaction.
  4. 4.
    After the "Approve" transaction has been processed successfully, click "Stake" and sign the transaction. Voila, you have staked your SB!

How to Unstake

  1. 1.
    Go to the Stake page of the Snowbank website. Select the "Unstake" tab.
  2. 2.
    Enter the amount of sSB that you would like to unstake in the input field. If you would like to unstake all your sSB, press the "Max" button and the input field will be populated with all your available sSB balance.
  3. 3.
    Click "Approve" and sign the transaction.
  4. 4.
    After the "Approve" transaction has been processed successfully, click "Unstake" and sign the transaction.
Note: The "Approve" transaction is only needed when staking/unstaking for the first time; subsequent staking/unstaking only requires you to perform the "Stake" or "Unstake" transaction.

Reading the Info

  • APY tells you the annualized rate of return based on the reward yield. It takes into account the effect of compounding since sSB rebases exponentially.
  • TVL measures the dollar amount of all the staked SB in Snowbank.
  • Current Index allows you to track your gain from staking. The index started from 1 at epoch 0, and increases every epoch. If you staked at genesis (epoch 0) and never unstaked any SB, your balance today would be X times greater, where X is the current index. You can use the index to track your position by marking down the index number when you stake and unstake. You divide the index number when you unstake by the index number when you stake to get the ratio by which your sSB balance has increased.
  • Your Balance tells you how many unstaked SB are in your wallet. This is the maximum amount that you can stake.
  • Your Staked Balance tells you how many staked SB are in your wallet. This is the maximum amount that you can unstake.
  • Next Reward Amount tells you how much sSB you are getting next rebase,
  • Next Reward Yield tells you how much your sSB balance will increase when the next epoch begins. For example, if you stake 100 SB and the upcoming rebase is 0.5427%, your sSB balance would increase from 100 to 100.5427.
  • ROI (5-Day Rate) estimates how much your sSB balance will increase after 5 days, if the reward yield stays the same during this period. For example, if you stake 100 SB and the rate is 8.4577%, your sSB balance would increase from 100 to 108.4577 after 5 days.