Ube is a Smart Contract that allow token holders to gain interest by locking token funds in your smart contract.
How this works?
The payment of the interest comes from the wallet of the contract creator. If you want to create a Staking contract you need to provide the funds for the contract to pay interest to token holders
The process is as follows
Create the Staking Contract
Approve funds for your contract to use
Tokens are not discounted from your account at the moment of approval, they are used on demand when the tokens are needed for interest payment.
Token holders can create as many stakes as they like, based on a minimum amount
Penalties
If the token holders end the stake before the Stakes matures, then a penalty will be deducted from the user stake and send directly to the admin account
Interests
If the token holders end the stake after the Stakes matures, then the token holder will get the original amount of tokens staked plus an interest
Features
Annual interest rate, calculated per second
Calculated every second
Maturity time
Defined in days after the stake is started
Minimum deposit
Stakes can be created for an amount equal or greater than this lower limit
Deploy a Ube Staking contract
Use the Smart Contract Wizard
If you are not sure what flavor or network is the best for you, use the WP Smart Contracts wizard
To deploy your Staking Contract to any network do the following:
Login into your WordPress install.
Login into Metamask
Click “Stakes” - “Add new”
Fill in the token address
You must use a valid ERC-20 or BEP-20 compliant token or equivalent on the network of your choice. If you are using a reflection token, then, you must exclude the stake contract in your reflection token. This is a one time setting, you will not be able to change this setting later
Fill in the interest rate
This is a percentage value greater than 0, and can be higher than 100
Fill in the minimum stake time
Minimum time in days, greater or equal to 0
Optionally, you can fill in the penalization
This is a percentage value between 0 and 100
Fill in the minimum amount for stakes
Select the network
Expand All networks
In the bottom left section of the screen you can click on "Expand All" in the network section to see all blockchains available to deploy the selected flavor. Available networks vary from one flavor to another.
Filter networks
In the bottom section you can click on checkboxes to filter your networks results by mainnet, testnets, Ethereum Bitcoin, etc.
Switch to desired network
Click on "Switch" on the desired networks to add this network to your Metamask and switch to it
Approve the operations in Metamask
At this point you can deploy either using the native coin of the selected network or WPIC WP Smart Contracts native tokens
Deploy with the native token of the selected network
Deployment and gas fees are paid using the native coin of the selected network, meaning that if you chose Ethereum you will pay in Ether, if you chose Polygon you will pay in Matic, etc. You will see the price in the native coin and the estimated equivalent in US Dollars in the top left of the networks section.
Click on the green “Deploy” button.
Read carefully the terms and conditions
Basically you need to know what you are doing and to know that this actions is irreversible.
If you agree and you know what you are doing click on both checkboxes
Click “Yes, please proceed”
Click “Confirm” in Metamask and wait for your transaction to finish.
Then your post will be updated showing the new Smart Contract information.
Deploy with WPIC
WPIC is a reward / redeem native token of the WP Smart Contracts plugin. With every deployment you get FREE WPICs that you can use to deploy Smart Contracts with no deployment fee.
