🗳️ Staking: mHOPE

What is mHOPE?

mHOPE is Firebird's Governance & Profit-share token. It encourages long-term staking and active community involvement through unbiased voting while receiving passive income from the ecosystem's profits.
You can lock HOPE for mHOPE on the ‘governance tab,’ after stake your mHope on the ‘stake tab’ on Polygon. On BSC the staking function is found on the ‘Farm’ tab and has the same mechanics. Read our Medium article for more: https://firebirdfinance.medium.com/more-hopemhope-is-coming-b55641145d47
Users who lock HOPE in the Governance platform between 1 week to 4 years will receive mHOPE. As soon as mHOPE is received, it becomes transferable but only for voting rights. The address which is used to lock HOPE to get mHOPE will be able to redeem HOPE without any need of holding mHOPE. For governance, 1 mHOPE = 1 vote.
Locking HOPE tokens for 4 years means you'll get 100% of your HOPE as mHOPE. Locking for 2 years means you'll get 50% and so on.
The contract for mHOPE (Polygon): 0x12bdad0abfccb9d88e9cc047f1e4cfab94947af3
Additionally, mHOPE holders that have staked their tokens on Firebird Finance receive a portion of the trading fees on Firebird Finance Swap decentralized exchange. On most trading pairs, 75% of the fees go to the holders of the governance token. But there are a few exceptions.
For mHOPE FAQs, check the Support group along the navigation bar.

To generate mHOPE tokens follow these steps:

  1. 1.
    Go to https://app.firebird.finance/ and connect your wallet by selecting the MATIC chain.
  2. 2.
    Be sure to have MATIC tokens in your wallet to cover gas fees and your HOPE tokens (in case you don't have any MATIC, you can use the Firebird Finance faucet https://faucet.firebird.finance/ which will be enough to get you started).
  3. 3.
    Click on 'Governance' on the header of the UI.
  4. 4.
    On the Governance page you will have multiple locking options ranging from 1 week to a maximum of 4 years. Lower lock periods result in lower mHOPE generation, so locking 100 HOPE for one week will create 0.48 mHOPE tokens while doing the maximum of a 4-year lock will create mHOPE tokens at 1 to 1 ratio or in this case 100 mHOPE tokens.
Also, remember that any early withdrawal from mHOPE to HOPE prior to the locking period ends will result in 50% of your staked HOPE being burned while you receive the other 50% instantly.
5. After selecting the desired lock period and approving/locking you will receive your mHope tokens respective to the length of time you've selected. Now you can stake your mHOPE tokens to receive even more rewards. Simply click on the Stake tab on the header of the UI, approve your mHOPE, and then stake your mHOPE.
For calculation of APR, mHOPE price is equal to the price of HOPE which means that lower locking periods will result in lower returns overall. For maximum benefits, HOPE needs to be locked for the longest duration which is 4 years.
mHOPE holders receive a portion of the fees generated by Firebird Finance. The rewards are distributed in USDC token and can be viewed on the 'Stake' tab after locking mHOPE.
Staking mHOPE tokens on our 'Governance' section gives you access to a share of our fees.