Holders of PSP tokens can get further involved with ParaSwap to help improve the efficiency and decentralization of the service while participating in the first-ever Social Escrow system.
Users can choose to stake either PSP (sePSP) or a 2x boosted PSP/ETH pool (sePSP2) to participate in the system through the Earn tab. You can read more about the differences between each sePSP token here
Staking PSP in either sePSP method allows you to earn incentives for the services you provide to ParaSwap in the form of a portion of the accrued protocol fees. The more value you add to ParaSwap, the more you can earn, by performing actions such as trading, market making, and referring others to the protocol, you can receive a boost on your stake. To read more about the ParaBoost, click here.
Staking PSP on Boosted Pool (sePSP2):
Select PSP tokens available
Add WETH or ETH
Unlock PSP and WETH or ETH in your wallet
Confirm stake
Staking PSP on Basic Pool (sePSP):
Select PSP tokens available
Unlock in your wallet
Confirm stake