Iliad Staking Launch: The First Version of Ares Staking

4 min readMay 10, 2021

Welcome to Ares Iliad Staking on Ropsten Test Network!

Staking Schemes：

1. For the first month, the reward is 625K ARES, and the rate of rewards will linearly decrease as the amount of staking increases.
eg. When the staking amount is up to100,000, the APY is 7600%
When the staking amount achieves 1 million , the APY is 760%
When the staking amount is up to 10 million. the APY is 76%
2. The staking tokens and rewards can be withdrawn freely at any time
3.Staking is divided into two steps, first send an Approve transaction, and then click Staking to participate to initiate the second transaction
4. Withdrawal is divided into withdrawal of Staking Token, withdrawal of rewards and withdrawal of rewards and Staking Token, which need to be sent on-chain transactions
5. All the above operations need to pay Ethereum Gas. Pay attention to the gas consumption when operating

Here is a quick guide for you to follow so that you can join us and help to do stake testing.

This guide will walk you through ARES staking concepts and the ARES Staking Dashboard interface. Once you are familiar with these concepts and the staking interface, you will be more confident to try this function after our staking will be released.

Note: The staking dashboard requires you to sign transactions with Metamask. If you do not know how to set up Metamask, you can research some articles for more information.

1. Login in your Metamask and switch the network to Ropsten Test Network

2. Add Ares token to Metamask

Press Add Token button and input token Contract Address : 0xf10B05f0aB4D2Be938135191bAD6eb790D722db6

3. Get testing token in discord

Before you try to do the testing, you should have the ARES testing tokens in your account. and also some testing Gas fee.

3.1 How to get the ARES testing token

Click the discord link and enter the staking_test channel and paste your Metamask address.

3.2 How to get the Eth testing token

You can get the Eth testing token :

https://faucet.metamask.io/
https://faucet.ropsten.be/

4. Connect Your Wallet

Open the staking dashboard: http://iliad.aresprotocol.com/

4. the main page

4.1 Stake Tokens

4.1.1 Approve

If your address is the first time to be connected to Iliad. You should do the Approve process.

4.1.2 Staking

After the Approve status of your address is successful, you can press the “Stake Tokens” button and then input the number of tokens to do staking. Once the transaction is completed, the Stake will display under Currently Staked

Note: Depending on how much gas you submitted with the transaction and the current load on the Ethereum network, your transaction may either complete quickly or take several minutes. If you run into an issue with the approval process taking very long, you may want to try refreshing the page or consider speeding up the transaction by paying more gas.

4.2 Unstake Tokens

You can press “Unstake Tokens” to withdraw your token. Enter the amount for your token and click the Unstake button.