What is Tectonic Finance?
Tectonic Finance is a decentralized money market for earning a passive yield on your assets and accessing instant-backed loans. Investors can deposit their crypto assets in Tectonic to earn a dynamic yield without any lockup periods while borrowers can boost their liquidity by supplying their crypto assets as collateral.
What is TONIC staking?
Tectonic allows TONIC holders to deposit their tokens in the TONIC staking module in return for yield rewards.
Stakeholders receive token rewards, including a share of the protocol revenue generated from fees paid by borrowers.
TONIC staking will drive further utility for the TONIC token. It seeks to align incentives with long-term believers of the protocol and benefits token holders.
Other uses for staked TONIC include acting as community insurance if a shortfall event occurs and will eventually be used to vote on Tectonic governance proposals as well.
What is the cooldown period?
You can make a request to withdraw your TONIC at any time. However, you will need to unstake them first and wait for a 10-day cooldown period to pass. After the cooldown period expires, you will be able to withdraw your TONIC.
How do I stake my TONIC?
Step 1: Navigate to the Earn tab and tap ‘Earn More’.
Step 2: Select "TONIC" and choose Tectonic Finance
Step 2: Select "Stake TONIC" pool and input the amount that you would like to stake
Step 3: Confirm the details of your stake and proceed after reading the disclaimer
Step 4: Wait for the transaction to be completed
How do I view my earnings?
You can review your TONIC earnings in the Assets section. Additionally, you can view more details on the DeFi Earn Details page. Your TONIC will be automatically compounded and the earnings will be reflected in ‘Staked amount’.
How do I unstake my TONIC?
Step 1: Navigate to the Earn Tab and select "TONIC" in the Assets section
Step 2: Select Unstake under Tectonic Finance
Step 3: Input the amount that you would like to unstake
Step 4: Review the request details and proceed by tapping ‘Confirm Unstake’
Step 5: Wait for the transaction to be completed. Then, your TONIC will have to undergo the 10-day cooldown period.
How do I withdraw my TONIC?
Once the cooldown period has ended, you are able to withdraw your unstacked TONIC.
Step 1: Navigate to the Earn tab and select TONIC in the Assets section
Step 2: Select Withdraw under Tectonic Finance.
Step 3: Review the request details and proceed by tapping ‘Confirm Withdraw’
Step 4: Wait for the transaction to be completed. Then, your TONIC will be added to your DeFi Wallet account balance.
What if I unstake more TONIC during the cooldown period?
If you choose to unstake more TONIC when you currently have TONIC tokens undergoing the cooldown period, both batches of tokens will be combined. The cooldown period will then be reset to 10 days.
Users should be aware of the risks of possible slashing of staked assets or rewards. The specifics of slashing are defined within each protocol, and is a mechanism built into Proof of Stake blockchain protocols. Although it's unlikely, there is a possibility you may lose your staked assets or rewards in case of a network or validator failure. While we've taken measures to reduce these risks, losses incurred as a result of slashing or other on-chain contract security are outside of our control and we shall not have any liability or be responsible for any damages or liabilities suffered from slashing penalties.