How to Stake Magma Staked Monad (GMON) on BENQI
BENQI may not directly support GMON staking, but you can still use BENQI to buy GMON and transfer it for staking.
Current APY
13.1%
Price
$0.0378
Platform Fee
10%
Platform Type
liquid
Step-by-Step: Stake GMON on BENQI
1
Get a compatible wallet
You'll need a Web3 wallet (like MetaMask, Phantom, or Keplr) that supports Magma Staked Monad's network.
2
Acquire GMON
Buy GMON 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 GMON 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 GMON 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: GMON Staking on BENQI
What APY can I earn staking GMON on BENQI?
The current estimated APY for GMON staking is around 13.1%. Actual rates vary based on network conditions, validator performance, and BENQI's fee structure (10% of staking rewards).
Is staking GMON on BENQI safe?
BENQI is a non-custodial protocol with a high risk profile for GMON 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 GMON from BENQI?
Unstaking times depend on the network: Flexible (sAVAX is liquid). During the unstaking period, your GMON won't earn rewards.
What fees does BENQI charge for GMON staking?
BENQI charges 10% of staking rewards. These fees are typically deducted from your staking rewards automatically.
Can I stake GMON on other platforms?
Yes! You can compare all available platforms for GMON staking on our How to Stake Magma Staked Monad guide. Different platforms offer different APY rates, fees, and custody models.