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Most people think staking means locking tokens and forgetting about them. Ignition lets you earn yield and stay liquid.
This is a short guide on how to stake your FOGO tokens with Ignition while staying flexible and keeping your options open for DeFi.
Why Liquid Staking?
Most staking locks your tokens, leaving you stuck. With Ignition's liquid staking, you earn yield on your FOGO while receiving a liquid token (iFOGO) that you can still use in DeFi. You get the best of both worlds: staking rewards plus flexibility.
Get Started
Head directly to the Fogees Hub validator on Ignition and connect your wallet. Set your session duration (1 hour, 1 day, etc.), log in, and approve the transaction.
Alternatively, you can manually navigate to Ignition by:
Checking Ignition’s X account: @IgnitionXYZ
Opening your Nightly wallet, going to Apps, and scrolling down to find Ignition
Once there, click Validators and select Fogees Hub or any other validator from the list.
Connecting Your Wallet
Click Validators, then sign in and connect your wallet. Set your session duration (1 hour, 1 day, etc.), log in, and approve the transaction.
How to Stake
Enter the number of FOGO tokens you want to stake
Click Stake
Approve the transaction
That's it. You've staked your FOGO and will receive iFOGO in return.
Understanding iFOGO
You'll notice that 1 iFOGO is worth more than 1 FOGO. This is normal for liquid staking tokens (LSTs). The value of iFOGO grows over time as staking rewards accumulate.
The current APY is displayed on the interface. Keep in mind this rate will decrease as more people stake their tokens.
How to Unstake
Click the Unstake tab. You have two options:
Instant: Higher fee, but you get your FOGO immediately
Delayed: Lower fee, but you wait for the unstaking period. The popup will show you how long that will take.
Choose based on how urgently you need your tokens.
Why Stake?
If you plan on holding FOGO, you should stake. You can put it to work, safely earning a yeild by simply clicking a few buttons.
Plus, with liquid staking, your iFOGO can even be used in DeFi platforms.
The Rewards Program
Ignition has a points program called "Miles." When you stake, you earn miles that accumulate over time.
Key things to know about rewards:
Daily Boxes: You can open one box per day to earn points
Boxes Expire: If you don't claim your box within the timer (e.g., 24 hours), those points are lost
Weekly Boxes: These also contain miles but don't expire. They persist until you open them.
Tiers: As you accumulate points, you move up through tiers (starting from Ember)
DeFi Score: Your activity affects your score and rewards
Set a reminder to log in daily and open your box. Consistency is key to maximizing your points.
This is time sensitive.
