# Staking on Extra Finance

By [Lynn Brooke](https://paragraph.com/@lynnbrooke) · 2024-04-22

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Staking on the Extra finance platform is a strategic way to enhance your engagement and benefit from holding EXTRA tokens. This guides outlines the staking process, emphasizing how it unlocks several protocol benefits and enhances your investment potential.

**What you will find in this article:**

![](https://storage.googleapis.com/papyrus_images/fb0c424ed20d9ee457a6eb5bd6e30772d84343d780dac25b7e1055186d179a29.png)

**Benefits of Staking on Extra Finance:**

*   **Earn weekly APR:** receive regular rewards based on your staked amount.
    
*   **Higher leverages rates:** unlock the potential for up to 7x leverage on your investments.
    
*   **One-Click rebalance:** manage your portfolio efficiently with automated rebalancing.
    
*   **Governance participation:** engage in the governance of the protocol by voting on proposals.
    
*   **Future Features:** look forward to more enhancements and functionalities.
    

Staking EXTRA tokens grants you **veEXTRA**, which reflects the quantity of EXTRA tokens staked and the duration of the stake. Essentially, **1 veEXTRA equates to 1 EXTRA token staked for the maximum duration** (one year). If you want to know more about the veEXTRA Boost, consider reading the article “[Obtaining the veEXTRA Boost](https://mirror.xyz/lynnbrooke.eth/1nnCfyoFQiu_p503huXLMprAzR6BXTyuOXh_sALwsSA)”.

**How to Stake on Extra Finance:**

1)Navigate to the “_Stake_” option on the [main page of Extra Finance](https://app.extrafi.io/).

![](https://storage.googleapis.com/papyrus_images/06886a03b665c8eacdc6e7bd014bf825e05624f65224f686f659d4ccce4c21b1.png)

2)The “_My Balances_” section displays:

*   Current EXTRA balance in your wallet.
    
*   Amount of EXTRA tokens locked.
    
*   Your veEXTRA balance, which varies based on the amount and durations of tokens locked.
    
*   Locking APR%.
    
*   Upcoming rewards.
    

![](https://storage.googleapis.com/papyrus_images/56770b2dbda93394642e43557c4cb6af68cf3f4caa29edafba29aac75b56e142.png)

3)Click on “_Start Lock_” to begin the process of locking your EXTRA tokens.

4)Set up your stake:

*   Choosing **amount** of tokens to lock:
    
    *   Use the “_Max_” button to lock all available tokens.
        
    *   Choose from preset percentages of your available balance.
        
    *   Manually enter a specific amount.
        
*   **Lock duration**: adjust it by sliding the bar to select the number of days. Remember the minimum lock duration is of 7 days.
    
*   **Review changes:** the lock menu updates in real-time, showing the amount of EXTRA tokens locked, the resultant veEXTRA, the unlock date and the expected APR%.
    

![](https://storage.googleapis.com/papyrus_images/d7f7a018954554d8829ca3abf041b7b5bf47ed228e136d1f6dda48eeca37d279.png)

5)Once satisfied with the setup, click “_Lock_” to finalize your staking.

6)Return to “_My Balances_” to see your updated Lock information. Refresh if needed with the update arrow on the corner.

![](https://storage.googleapis.com/papyrus_images/3342834774818fb93535d78914122deb874f93ef769e861ec83ef848b4cbf415.png)

7)Understanding rewards: rewards are calculated based on your veEXTRA balance at the start of each epoch. **A full epoch’s participation is necessary to claim rewards**. Monitor “Next rewards time” in “My Balances” to now when to expect your next payout.

**Conclusion**:

Staking EXTRA tokens on Extra Finance not only boosts your earnings through attractive APRs but also allows you to influence the platform’s future through active governance participation. Ensure you are prepared for each epoch to maximize your rewards, and keep an eye on upcoming features that will expand your capabilities within the protocol.

_Lynn Brooke_

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_This article serves educational purposes and is not financial advice. We encourage you to do your own research and be responsible for your actions in the financial space._

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*Originally published on [Lynn Brooke](https://paragraph.com/@lynnbrooke/staking-on-extra-finance)*