The brand new Single Asset Staking feature on MatrixPerp allows your MATRIX tokens more earning power. You stake MATRIX for xMATRIX (xMATRIX represents your staked shares) which allows you a risk-free way to earn without having to worry about impermanent loss. If you currently hold the MATRIX token, the single Asset asset staking effectively allows you to grow your holdings and do more with MATRIX.
How does it work?
For every multi-token trade made on Matrixswap, a 0.3% fee is collected and used to purchase MATRIX tokens on the open market and sent to xMATRIX pool. Currently, this automated process is occurring every 24 hours. Your MATRIX token will be continuously compounding each and every single day when staked.
When you unstake, you will receive all of the originally deposited MATRIX and any additional rewards from the trading fees themselves.
Matrix Labs team will provide you with an initial APR of 60% so you can start yielding more MATRIX tokens right from the start.