What is $stICP?
Last updated
Last updated
To start staking ICP through Meta Pool, users first need to select an ICP wallet. We offer multiple wallet options to accommodate different user preferences.
After choosing a wallet, users need to connect it to the official Meta Pool website at metapool.app. Once connected, users can create a transaction to deposit ICP and mint stICP tokens. These tokens represent a share in the staked ICP tokens within the protocol Neurons, and their value increases as more ICP is staked.
When users wish to withdraw their funds, they need to create a withdrawal order. The withdrawal process can take up to six months, depending on the protocol's liquidity. To offer more flexibility, we plan to introduce a liquidity pool that will allow users to instantly swap between stICP and ICP, bypassing the waiting period. However, as this is a blockchain environment, anyone could potentially create a similar liquidity pool.
