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Staking (🍣, 🍣)

What is Staking?

Staking is the primary value accrual strategy of URAMAKI. Stakers stake their $MAKI tokens on URAMAKI Website to earn rebase rewards. The rebase rewards come from the proceed from recipe sales, and can vary based on the number of $MAKI staked in the protocol and the reward rate set by monetary policy.
Staking is a passive, long-term strategy. The increase in your stake of $MAKI translates into a constantly falling cost basis converging on zero. This means even if the market price of $MAKI drops below your initial purchase price, given a long enough staking period, the increase in your staked $MAKI balance should eventually outpace the fall in price.
When you stake, you lock $MAKI and receive an equal amount of sMAKI. Your sMAKI balance rebases up automatically at the end of every epoch. sMAKI is transferable and therefore composable with other DeFi protocols.
When you unstake, you burn your sMAKI and receive an equal amount of $MAKI tokens. Unstaking means the user will forfeit the upcoming rebase reward. Note that the forfeited reward is only applicable to the unstaked amount; the remaining staked $MAKI (if any) will continue to receive rebase rewards.

What is warm-up?

Users must be staked for more than 2 rebases before claiming any rebase rewards. Users will accumulate rewards while in the warm-up period but will not be able to claim them for 2 epoch. When 2 epoch has elapsed your staked balance can be claimed from the warm up contract and you will automatically receive the rebase rewards thereafter. Exiting Warm-Up will return your $MAKI balance to your account, but will not make you eligible for rebases on the current balance in warm-up.