Guide: How to stake your FPIS and earn veFPIS yield.

The veFPIS staking program will have give out 5M FPIS rewards to veFPIS stakers over a the first year, starting February 20th, 2023. The emissions be halvening on a yearly schedule, The second year emissions will be 2.25M FPIS, third year 1.125M FPIS, etc.

1- How to get FPIS?

• Connect your MetaMask extension to the link below to purchase FPIS:
  https://app.frax.finance/swap

2- How to Stake your FPIS in veFPIS?

• Now you have FPIS in your ETH wallet.
• Head to veFPIS staking page on Frax Finance website and connect your wallet here: https://app.frax.finance/fpifpis/vefpis
• You will arrive at this page:

• Write the amount of FPIS you want to stake, and the length of your lock period (in weeks).
• Click “Approve FPIS token allowance”.

• A MetaMask transaction will pop-up, click “Confirm”.

• Click “Lock FPIS”.

• A MetaMask transaction will pop-up to lock your FPIS, click “Confirm”.

• To start getting the rewards, you have to checkpoint the yield distributor.
• Click “Checkpoint”.

(Note: you will also need to do a checkpoint when you change the quantity of your locked FPIS or the length of the lock period.)

• A MetaMask transaction will pop-up, click “Confirm”.

• Congratulations, you have successfully locked your FPIS, you should NOW start receiving FPIS REWARDS.

About Frax Finance

Frax is the first and only stablecoin with parts of its supply backed by collateral and parts of the supply algorithmic. The stablecoin (FRAX) is named after the “fractional-algorithmic” stability mechanism. The ratio of collateralized and algorithmic depends on the market’s pricing of the FRAX stablecoin. If FRAX is trading at above $1, the protocol decreases the collateral ratio. If FRAX is trading at under $1, the protocol increases the collateral ratio.
FRAX: is the stablecoin targeting a tight band around $1/coin.
Frax Shares (FXS): is the governance token which accrues fees, seigniorage revenue, and excess
collateral value.
Frax Price Index (FPI): is the second stablecoin of the Frax Finance ecosystem. FPI is the first stablecoin pegged to a basket of real-world consumer items as defined by the US CPI-U average.
Frax Price Index Share (FPIS): is the governance token of FPI, which is also entitled to seigniorage from the protocol.
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