Wrapped staked MINO (wsMINO) FAQ

Wrapped sMINO FAQ

What is sMINO?

Staked MINO (sMINO) is a receipt token that you get when you stake MINO. Don’t lose it, because you need it to get your MINO back! Each sMINO is redeemable for exactly 1 MINO.

What is wsMINO?

Wrapped sMINO (wsMINO) is a token that represents the value of MINO plus all of its rebase staking rewards.

Will I receive rebase staking rewards with wsMINO the same way I get them with sMINO?

Yes. Think of wsMINO like a milk jug. Your sMINO is the milk inside, and I squirt more fresh milk in from my teats every 8 hours. This is what we call a “rebase.”

Why should I wrap my sMINO?

You are not required to wrap your sMINO to continue collecting rebase staking rewards. However, wrapping sMINO allows functionality that regular sMINO does not.

With wsMINO, you can:

· Stake in outside pools (such as MMF) to earn bonus rewards without losing your sMINO rebase rewards

· Potentially avoid taxation on your rebase staking rewards (if applicable)

· Bridge MINO to other blockchains (when available)

· Use MINO in other Dapps (when available)

Can I buy/sell wsMINO directly, instead of MINO?

No. There is no direct wsMINO liquidity at this time. The correct sequence is to buy MINO, stake, and then wrap.

How can I track the rebase rewards on my wsMINO?

You can enter the number of wsMINO you have in the “Unwrap” view on our Wrap page. This shows the number of MINO you would receive if you unwrapped. You can also multiply your number of wsMINO by the Current Index value on the Dashboard. Your number of wsMINO will not change after rebases, but the sMINO quantity contained in your wsMINO increases.