As of 14 December 2023, Unitus has introduced UTS inventives to iUSX staking on all six chains. Users can already stake their $USX on the “Liquidity” section on our dapp and start benefitting from the distribution of $UTS.
Got questions about how it all works? keep scrolking for our comprehensive FAQ!
What is iUSX?
iUSX is a certificate issued to users who deposit USX into Unitus. The value of iUSX increases over time, reflecting the deposited USX and the interest earned.
When users withdraw USX from Unitus, iUSX is automatically burned as a response.
What is iUSX Staking?
Users can stake iUSX on Unitus to earn UTS rewards, but it’s essential to keep in mind that they must also provide BLP liquidity for DF/UTS or USX/UTS on specified DEXes for a minimum of 1% of their total deposit, including staked iUSX.
How do I stake iUSX?
Go to ‘Liquidity’ and switch to the network where you initially deposited USX into Unitus.
Please ensure that you have USX deposited into Unitus on the same network to receive iUSX as your deposit certificate. Then, click on ‘Stake’ to proceed.
A window will appear showing the estimated amount of iUSX you will receive. Click ‘Stake’ to proceed. Once the transaction is confirmed, your iUSX will be staked into the contract.
You can switch to ‘Unstake’ to check your staked iUSX. The quantity will remain constant, while the value (exchange rate between USX and iUSX) will appreciate over time.
What can I receive by staking iUSX?
Staking iUSX allows users to earn various layers of interest, including:
- Supply rate on their USX deposit
- UTS emissions on their staked iUSX (provided users provide liquidity for BLP for a minimum of 1% of their total deposits)
How can I receive UTS on my staked iUSX?
Users should allocate a minimum of 1% of their total deposit, including staked iUSX, as BLP value to qualify for UTS rewards.
You can find the required amount of BLP liquidity to become eligible for UTS emission on the ‘BLP’ tab.
Additionally, please note that when calculating UTS emissions, your USX deposit and staked iUSX will be treated as a single entity. For example, if a user deposits 100 USX and stakes 100 iUSX on Unitus, his/her eligible deposit will be counted as 100 USX, not 200 USX.
It is also important to note that if USX has already been used as collateral for a loan, the iUSX available for staking must maintain a collateralization ratio of at least 1.
- Click here to view the UTS emission details for iUSX (updates periodically).
Why Do I See Different iUSX Balances Between My Wallet and the Stake Page?
If USX has already been used as collateral for a loan, the iUSX available for staking must maintain a collateralization ratio of at least 1.
On the staking page, the iUSX balance represents the amount of iUSX available that ensures a collateralization ratio of no less than 1. To reduce the risk of account liquidation, the balance displayed is 92% of the available amount.
Is there any lock-up for iUSX staking?
No, users can withdraw iUSX and exit from staking at any time.
Do I need to withdraw my iUSX from dForce and re-stake it on Unitus?
Yes. Users need to unstake iUSX from dForce before re-staking it on Unitus.
Then, you should navigate to the ‘Liquidity’ page on Unitus to re-stake your iUSX.
