Stake & Unstake

Staking is where you actually earn yield. When you stake mxHYPE, you receive smxHYPE, a receipt token whose exchange rate to mxHYPE grows as the protocol settles its earnings.

Unstaking is a two-step process with a cooldown period, or an instant exit for a small fee.

Current unstake cooldown: 1 day. This value is read live from HypeConfig.unstakeCooldown() and can be adjusted by governance. The active value is always shown in the UI and is authoritative.

How the exchange rate works

1 smxHYPE = X mxHYPE   (X grows over time)

The app shows the current rate under the Earn tab, e.g. 1 smxHYPE = 1.0014 mxHYPE. When you stake, you receive amount / X smxHYPE. When you unstake, you receive your smxHYPE × (current rate) in mxHYPE, which is more than you put in because the rate has grown.

• Decimals: mxHYPE has 18 decimals, smxHYPE has 24.
• Yield is settled daily. The rate update reflects yield accrued from 00:00 UTC the previous day to 00:00 UTC today, as the banner under the Earn tab explains. No claim transaction, no compound button.
• Yield is denominated in HYPE. The rate grows in mxHYPE terms; the dollar value of your position also moves with the HYPE price.

Stake

1. Enter the amount

Select the Earn tab at the top, then Stake. Enter the mxHYPE amount you want to stake. The app displays:

• Your mxHYPE balance.
• The estimated smxHYPE you'll receive at the current rate.

2. Approve mxHYPE

Click Approve & Stake mxHYPE. The first wallet prompt approves the smxHYPE contract to pull your mxHYPE.

Approve is per-amount. If your existing approval already covers the amount, the button reads Stake mxHYPE and the approval prompt is skipped.

3. Stake

The second prompt is the stake itself. The transaction calls smxHYPE.deposit(amount, yourAddress). Your mxHYPE is transferred in, and smxHYPE is minted to your wallet at the current rate.

That's it; yield starts now

Your smxHYPE balance doesn't change, but its redemption value in mxHYPE grows with each daily settlement. You can watch the 1 smxHYPE = X mxHYPE line tick up.

Unstake

Unstaking has two modes, chosen from the dropdown next to the button:

• Standard: no fee. Request now, claim after the cooldown.
• Instant: 0.3% fee. Receive mxHYPE immediately, subject to availability (see below).

1. Request an unstake

Under the Earn tab, switch to Unstake. Enter the smxHYPE amount you want to unstake. The app displays:

• Your smxHYPE balance.
• The estimated mxHYPE you'll receive at the current rate.

Click Unstake smxHYPE and confirm. The transaction calls smxHYPE.cooldownShares(amount). No approval is needed for this step.

After this, the cooldown starts. A new card appears under Unstake requests with status Cooldown and a countdown timer.

Your smxHYPE is burned at request time and the corresponding mxHYPE is held in escrow. The exchange rate at the time of the request is the rate used at claim; you don't get additional yield during the cooldown.

2. Wait for the cooldown

The Waiting column counts down. The cooldown length (currently 1 day) is set in the protocol config and shown live in the UI. Governance can adjust this parameter; future changes will be announced before they take effect.

3. Claim your mxHYPE

When the cooldown ends, the request's badge flips from Cooldown to Ready (green) and the button changes to Claim.

Click Claim and confirm. The transaction calls smxHYPE.claimUnstake(requestId) and sends the escrowed mxHYPE to your wallet.

Instant unstake

Select Instant (0.3% fee) from the dropdown. The app quotes the mxHYPE you will receive and the fee. If instant exit is available, click Unstake smxHYPE: the first prompt approves smxHYPE to the instant-exit contract, the second calls instantExit(amount). You receive mxHYPE in the same transaction; no cooldown.

Instant exit is served from a protocol-funded buffer, so it is not always available. The app shows Instant Exit Unavailable and a reason when:

• Instant exit is paused.
• Your amount is below the instant minimum (currently 2 smxHYPE).
• The buffer doesn't hold enough mxHYPE for your amount. Try a smaller amount or use Standard.
• The instant queue is full.

After unstaking

You now hold plain mxHYPE. You can:

• Re-stake it to earn yield again.
• Redeem it to HYPE; see Redeem mxHYPE. Note that redeem has its own, separate cooldown.

Troubleshooting

• "Insufficient mxHYPE balance": check your mxHYPE balance; you may need to mint first.
• "Insufficient smxHYPE balance" (on Unstake): you're trying to unstake more than you hold.
• Rate looks static: the smxHYPE rate updates once a day when the protocol settles earnings, not every block.
• "Strategy operations are paused" banner: the protocol's hedging operations are temporarily paused. Mint, stake, and cooldown requests still work; the rate won't move until operations resume.