Frequently Asked Questions
Welcome to Stake My Gold FAQ! Here, we've compiled answers to the most common questions about our platform, staking process, yields, and more. If you don't find what you're looking for, feel free to contact our support team:
Go to Telegram ↗StakeMyGold is a decentralized finance (DeFi) platform that allows users to stake gold-backed tokens like GGBR, PAXG (coming soon), XAUT (coming soon), to earn passive income. We combine the stability of gold with innovative real world lending yield strategies, including dynamic allocation and sustainability initiatives, targeting up to 15.0% APR for GGBR stakers.
You have several convenient options for acquiring Goldfish (GGBR) tokens, whether you prefer a decentralized exchange (DEX), a centralized exchange (CEX), or direct purchase.
| Purchase Method | Type | How to Buy |
|---|---|---|
| StakeMyGold | Decentralized OTC | This is the direct way of purchasing GGBR. Fully decentralized, no slippage, very low fees. We recommend purchasing here as you will get a much better price regardless of your order size. |
| Uniswap | Decentralized Exchange (DEX) | This is the fastest way to get tokens into your wallet for crypto-savvy users without any restrictions and identity verification worldwide. You will need a Web3 wallet (like MetaMask) connected and sufficient ETH to cover gas fees. |
| MEXC.com | Centralized Exchange (CEX) | Does not serve US clients. Otherwise, one of the most active exchanges in the industry is to buy or trade GGBR/XAUT/PAXG tokens. MEXC features fiat on-ramp; however, forces identity verification is you want to use fiat currencies or move larger amounts in crypto. |
| BitMart.com | Centralized Exchange (CEX) | Does not serve US clients. Features fiat on-ramp and good trading volumes. A good and trustworthy exchange for buying and trading GGBR/XAUT/PAXG. |
| XT.com | Centralized Exchange (CEX) | Fiat On-Ramp: Buy GGBR using fiat currency (USD, EUR, etc.) or another cryptocurrency. Create an account, complete identity verification, deposit funds, and search for the GGBR/USDT trading pair. Keep in mind that XT.com does not accept clients from many jurisdictions. |
| Goldfish.com | Direct Purchase | Direct & Simple: Purchase GGBR tokens directly from the Goldfish website goldfishgold.com. This method typically allows you to buy tokens using stablecoins and other popular cryptocurrencies. You must pass identity verification to purchase through Goldfish website. |
Term Staking
This is our most straightforward earning method: simply lock your GGBR for a set duration to accumulate yield. You can choose between two subcategories:
Full Lock: Commit your GGBR for a fixed period to secure the platform's highest yields. Your assets remain locked until the term expires.
Optional Lock: Offers flexibility to unlock at any time in exchange for slightly lower yields. Note that unstaking early incurs a 30% penalty on the interest earned during that staking period.
Under either option, you can boost your APR by delegating GFIN, the Goldfish governance token. We use your delegated GFIN to participate in protocol governance while you maximize your staking returns.
stGGBR Staking
Normally, when you stake in standard pools on StakeMyGold, earning your fixed yield is the final step of the process. It is very similar to buying a Certificate of Deposit (CD) from a bank; your assets sit there and earn.
Placing your GGBR into the stGGBR pool works differently. Instead of just locking your tokens, you receive stGGBR tokens in your wallet as a digital receipt.
This provides two major advantages:
The value of your stGGBR is constantly increasing thanks to the built-in yield component.
Because that token sits freely in your wallet, you can take it and interact with other DeFi protocols. You can use your stGGBR on other platforms to stack rewards and increase your yield even further.
Ultimately, stGGBR is built for deep integration with the broader blockchain DeFi ecosystem, giving you flexibility that standard staking cannot.
Conversion Staking
Coming soon.
While we employ robust security measures, any activity involving smart contracts and third-party partners carries inherent risks that you should be aware of:
| Risk Category | Explanation | Mitigation |
|---|---|---|
| Smart Contract Risk | The possibility of a bug or vulnerability in our staking smart contract that could be exploited, leading to a loss of funds. | Our smart contracts are designed with security best practices and are often subject to independent audits by Certik and Cyfrin. |
| Rehypothecation/Counterparty Risk | The risk associated with our institutional partner who stores and uses the majority of your tokens as collateral. If the partner were to face insolvency or operational failure, it could affect the recoverability of your assets. | We partner exclusively with reputable, regulated financial institutions and maintain strict legal agreements to safeguard staked assets. |
| Liquidity Risk | The risk that the on-chain withdrawal pool temporarily runs low. While we are committed to full coverage, extreme, unforeseen market events could theoretically delay the immediate processing of a large, simultaneous volume of unstaking requests. | The system is designed to always have full coverage between the on-chain pool and the partner's balance, minimizing this risk. |
| Gas Fee Volatility | The transaction fee (Gas) required to stake or unstake can spike significantly during periods of high network congestion on Ethereum. This doesn't risk your staked principal, but it can make it temporarily expensive to unstake. | We recommend monitoring gas prices and transacting when the network is less busy (e.g., non-peak hours). |
It is an ongoing security initiative that financially rewards ethical (white-hat) hackers for discovering and responsibly reporting vulnerabilities in the StakeMyGold smart contracts or related infrastructure.
We are committed to supporting a wide range of wallets, as we utilize the industry-standard WalletConnect protocol, which is compatible with most self-custody wallets available on the market.
Our Primary Recommendations:
| Wallet Type | Recommended Wallet | Why We Recommend It |
|---|---|---|
| Hot Wallet (Software) | MetaMask | Offers a seamless, reliable connection and is generally the quickest to integrate new token standards. |
| Cold Wallet (Hardware) | Ledger | For maximum security, we recommend using your Ledger device and connecting it through the MetaMask interface. |
Important Note on Token Integration: While WalletConnect supports many wallets, some wallet providers may be slower to update and integrate new tokens, such as GGBR. Using our recommended wallets (MetaMask or Ledger via MetaMask) ensures the best performance and integration with our platform's specific token.
WalletConnect is an open standard, meaning it is compatible with virtually hundreds of wallets that implement the protocol. Here are some of them:
| Category | Popular Wallets Supported | Description |
|---|---|---|
| Mobile & Software Wallets | MetaMask, Trust Wallet, Coinbase Wallet, Rainbow, Exodus, Atomic Wallet, Argent, imToken, Uniswap Wallet, SafePal (Software), MyEtherWallet (MEW) + any wallet supporting ERC20 tokens. | These self-custody apps are the most common entry point for WalletConnect, allowing mobile users to connect to desktop dApps. |
| Hardware Wallets | Ledger (via Ledger Live), Trezor (via Trezor Suite), SafePal (Hardware), Ellipal | Hardware wallets connect through their companion mobile or desktop applications to sign transactions securely. We recommend connecting them to MetaMask Wallet and accessing StakeMyGold through Metamask. |
| Multi-Sig & Institutional | Gnosis Safe (now Safe) | Wallets designed for shared control or institutional custody that utilize the protocol. |
| Specialized Wallets | Phantom, Bitget Wallet (formerly BitKeep), Kraken Wallet | Wallets originally focused on specific ecosystems (like Solana for Phantom) that have expanded compatibility via WalletConnect v2. |
