How to Stake
Stake WELL or MFAM tokens in the Moonwell Safety Module
Last updated
Stake WELL or MFAM tokens in the Moonwell Safety Module
Last updated
This page offers step-by-step instructions for users wishing to stake WELL tokens on Base/Optimism/Moonbeam or MFAM on Moonriver in the Safety Module.
Base: Only native WELL is eligible for staking. If you have Wormhole-wrapped WELL on Base, please use the in-app migration wizard.
Native WELL (Base): 0xA88594D404727625A9437C3f886C7643872296AE
Wormhole-wrapped WELL (Base): 0xFF8adeC2221f9f4D8dfbAFa6B9a297d17603493D
Follow the steps outlined below to stake your tokens in the Safety Module:
Begin by accessing the "Stake" page within the Moonwell app.
On the "Stake" page, locate the "Stake" modal. This modal contains various options related to staking.
Within the modal, find the option to select the network for staking. The available networks are:
Base, Optimism and Moonbeam for WELL tokens.
Moonriver for MFAM tokens.
Select the network that corresponds to the tokens you wish to stake.
After selecting the desired network, enter the amount of tokens you wish to stake in the designated field. Make sure the entered amount does not exceed the available balance in your wallet.
Review the amount to ensure accuracy before proceeding. If you're satisfied, click the "Stake" button to initiate the staking transaction.
You will be prompted to approve a token allowance in order to stake your tokens. Click the "Approve Staking" button, then follow the instructions in your wallet to grant the permission.
Once the token allowance is approved, a pop-up will appear to confirm the stake transaction. Confirm your intention to stake by clicking the "Confirm Stake" button, then accept the transaction in your wallet.
After confirming the stake, the transaction will be submitted onchain for execution.
This process may take a few moments. You can monitor the transaction status through your wallet or via any blockchain explorer that supports the selected network.
Once the transaction is successful, your tokens will have been staked in the Safety Module. You can now enjoy the benefits associated with staking, which include earning rewards, participating in governance, and contributing to protocol's security.
