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How to Stake Mento Dollar (USDM) on BENQI

BENQI may not directly support USDM staking, but you can still use BENQI to buy USDM and transfer it for staking.

Current APY

5.1%

Price

$0.9997

Platform Fee

10%

Platform Type

liquid

Start Staking USDM on BENQI

BENQI gives you full control of your assets.

Stake USDM on BENQI →

Step-by-Step: Stake USDM on BENQI

1

Get a compatible wallet

You'll need a Web3 wallet (like MetaMask, Phantom, or Keplr) that supports Mento Dollar's network.

2

Acquire USDM

Buy USDM from an exchange and transfer it to your wallet, or swap for it using a DEX.

3

Visit BENQI

Go to BENQI's staking interface and connect your wallet.

4

Stake and receive liquid tokens

Enter your USDM amount and confirm the staking transaction. You'll receive a liquid staking token (LST) representing your staked position.

5

Use your LST in DeFi (optional)

Your liquid staking token can be used across DeFi — lend it, provide liquidity, or hold it to earn staking rewards passively.

BENQI for USDM Staking: Pros & Cons

Pros

  • + Avalanche-native — no bridge risk
  • + sAVAX usable in Trader Joe, GMX, and other Avalanche DeFi
  • + Integrated lending market (Qi Protocol)
  • + No minimum stake

Cons

  • - Avalanche-only
  • - Smart contract risk
  • - Lower TVL than Ethereum liquid staking protocols

FAQ: USDM Staking on BENQI

What APY can I earn staking USDM on BENQI?
The current estimated APY for USDM staking is around 5.1%. Actual rates vary based on network conditions, validator performance, and BENQI's fee structure (10% of staking rewards).
Is staking USDM on BENQI safe?
BENQI is a non-custodial protocol with a high risk profile for USDM staking. As a non-custodial platform, you retain control of your private keys. Always assess your risk tolerance before staking.
How long does it take to unstake USDM from BENQI?
Unstaking times depend on the network: Flexible (sAVAX is liquid). During the unstaking period, your USDM won't earn rewards.
What fees does BENQI charge for USDM staking?
BENQI charges 10% of staking rewards. These fees are typically deducted from your staking rewards automatically.
Can I stake USDM on other platforms?
Yes! You can compare all available platforms for USDM staking on our How to Stake Mento Dollar guide. Different platforms offer different APY rates, fees, and custody models.