Stake ALTD | Earn Rewards and Govern Altitude via gALTD

Farm ALTD and become an Altitude governance participant

When providing liquidity on any supported chain, users receive LP tokens which they can stake in farms pool to earn ALTD. Upon receiving ALTD as a reward, users can increase their earnings by staking their ALTD to receive redistributed fees that are collected and sent to the protocol treasury. The ALTD staking pool issues gALTD representing the ALTD staked. Whenever the protocol treasury buys back ALTD, it will also distribute ALTD to the ALTD staking pool, increasing the yield for stakers and thus increasing their earnings.

Note staking $ALTD for $gALTD is only available on ethereum

How to Stake your ALTD Tokens

1. Connect your wallet to Altitude and head to https://altitudedefi.com/stake

2. Select Ethereum Network to add your ALTD to the pool.

Select the staking pool on Ethereum

Add the amount of ALTD you would like to stake

3. Input the amount of ALTD you'd like to stake

4. Set Allowance, confirm the transaction

5. Stake, and confirm the transaction

6. Get gALTD

Only gALTD holders are eligible to take part in Altitude Governance To ensure that users who deposit at a later stage will only receive the rewards for the eligible periods, the following formula is used to calculate the amount of gALTD received upon deposit. Amount of gALTD = deposit * (total gALTD / deposited ALTD) Here is an example: 1) John deposits 100 ALTD and receives 100 gALTD

2) Treasury performs a buyback and adds 100 ALTD (now 200 ALTD deposited, 100 gALTD in circulation)

3) Mary-Anne deposits 100 ALTD and receives 50 gALTD (100 ALTD * (100 gALTD / 200 ALTD))

This results in John owning 100 gALTD that are redeemable for 200 ALTD and Mary-Anne owning 50 gALTD that are redeemable for 100 ALTD.

ALTD buybacks and ALTD distributions will be performed on a bi-weekly basis using a ghost snapshot that will be taken anywhere in the last 24 hours of every week. Rewards can only be received when a user has deposited ALTD during both the snapshot AND distribution of rewards.

Please see the diagram below 👇 on how ALTD rewards are distributed to gALTD stakers

ALTD reward distribution path for gALTD stakers