How to claim MoC Tokens from Liquidity Mining
Learn how you can obtain MOC Tokens assigned by the MOC Liquidity Mining Program to the addresses that HODLean BPro.
How to Claim MoC Tokens
This document explains how to claim the MoC Tokens allocated as a reward for hodling BPro under the MOC Liquidity Mining program. The claiming is even easier than minting tokens, so you should be fine doing it.
Why do you need to claim your tokens?
All the processes that are carried out on the blockchain must pay a cost called Gas, so an automatic daily distribution would be expensive. Even though it is much cheaper in the RSK network than in other blockchains, paying that amount daily would be nonsense, especially for those who have very small BPro holdings.
That is why it was chosen, as part of the Money On Chain design, that the rewards program runs off-chain and the user can claim all accumulated tokens whenever the user wants.
In the case of the MoC Tokens assigned by the MOC Liquidity Mining program that was running from December 7, 2020, until the time of the TGE, an additional reason is added: until the moment of the TGE, the tokens did not really exist yet, but rather it was a commitment made to users.
What does involve?
You will have to do this process every time you want to claim the MoC tokens assigned to each of the accounts that hodl BPro. The claiming is for the whole balance, you can not claim a lower amount. Please have in mind that the claiming involves several transactions so every time you do it you will be charged gas for these transactions. Perhaps it could be a good idea to claim your tokens once you have accumulated enough balance or it is more convenient to stake them.
On the home page of the Stablecoin Protocol dApp, where the MoC tokens rewarded to your account holding BPro are shown, there is an arrow, click on it to claim your MoC.
You will see your MoC tokens balance, the amount that is in process (if any), and the amount earned today.
Once you initiate the claim of your MoC tokens, it goes to a queue with all the user's requests. For security reasons, a number of requests are filled every day until a certain amount is reached. In case a request exceeds the daily limit, the queue stops until this request is fully covered.
Step by step guide
Go to the Stablecoin Protocol as usual http://dapp.moneyonchain.com/
On the Home page, you have two options to claim your MoC tokens. Click on the MoC icon on the left menu or click the arrow button on the card at the right.
You'll be redirected to a screen containing a card with info about:
MoC tokens in your wallet,
the amount of MoC tokens available to claim,
the amount of MoC tokens that are currently processing and
the MoC tokens earned today.
If you hit the claim button, your wallet will ask you to sign the transaction. Sign it. That's it. Easy, right?
Remember that if you HODL BPro tokens you'll keep receiving MoC tokens, so you'll need to go over this steps to get those new tokens. Since you need to pay a small amount of rBTC for the gas, you should evaluate how often you do it.
What's next?
You're about to have MoC tokens in your wallet. There is another incentive program for staking MoC tokens. You can click here to learn about the MoC Staking Rewards or here to know how to put your MoC tokens to stake.
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