Staked with Hatom
Hatom’s Safety Module Features
Provide additional security
A portion of the funds deposited in the module can be used to mitigate any losses incurred in case of a shortfall event.
Earn safety incentives
HTM tokens will be awarded to users who stake EGLD, MEX, RIDE, USDC, or HTM in the safety module.
Participate in the governance
Voting on the different Hatom proposals will still be possible using the HTM tokens staked in the safety module.
How to Use the Safety Module
Stake your assets in the safety module to protect the protocol, and earn safety incentives in the form of HTM tokens.
DeFI is an emerging technology with several potential risks.
A number of factors, including the risks associated with smart contracts, liquidations, and oracle failure, might result in an unpredicted loss of funds in DeFI protocols.
A safety module is implemented to protect the protocol against those risks.
The main role of the safety module is to safeguard the protocol against unexpected loss of funds.
The safety module acts as a mitigation mechanism designed to absorb the impact of any unfortunate shortfall event on the protocol. It serves as an insurance module and adds an additional security layer to the protocol.
Users can deposit their EGLD, MEX, RIDE, USDC, and HTM and earn safety incentives in the form of the HTM token that is purchased with a portion of the ecosystem's revenue.
To offset the losses sustained in the event of an unfortunate occurrence, a percentage of the funds deposited in the safety module may be utilized.
Frequently Asked Questions
What is Safety Module staking?
Staking in the safety module consists of depositing your EGLD, MEX, RIDE, USDC, or HTM in the safety module of the protocol with the purpose of providing it with an additional security layer in case of a shortfall event while earning safety incentives in the form of HTM tokens distributed.
Why stake in the Safety Module?
The Safety module is a crucial component that reinforces the security of the protocol and acts as insurance against any unfortunate shortfall events that might arise. Staking your assets in it go a long way in protecting the protocol. In return, you’ll earn HTM tokens as safety incentives that will be distributed among the stakers.
What is the risk of staking?
In case of an unfortunate shortfall event, a portion of the assets deposited in the safety module can be used to cover any deficit.
How do I start staking?
To stake, head over to the safety module’s App. Choose the Token you want to stake and the amount you’re willing to deposit, confirm the transaction and start accruing the rewards.
What is the cooldown period?
The cooldown period is the time required to unstake your tokens. The cooldown period is currently set at 30 days.
N.B: You have a two-day window to unstake your assets after the cooling time has passed. During that time, if you do not unstake, the cooldown process must be repeated.
How do I claim my rewards?
To claim your rewards, you can simply go to the safety module dashboard and click on the “Claim” button. Once your transaction is confirmed, you will receive the rewards in your wallet.
Can I stake multiple assets at the same time?
Yes, you can have different assets staked at the safety module simultaneously and also make as many staking and unstaking requests as you want.
Can I cancel my unstake request?
During your cooldown period, you can cancel your request and keep staking your assets in the safety module to earn rewards.
STAKE ON THE SAFETY MODULE
The Safety Module is an important feature that acts as insurance and provides more security to the protocol. Users can deposit their EGLD, MEX, RIDE, USDC, and HTM and earn safety incentives in the form of the HTM token. The Safety Module is considered as an additional security layer to the protocol. In case of an unfortunate shortfall event, a portion of the staked liquidity can be used to cover the deficit.