Minimum staking deposit amount must be greater than 0.011 stETH
You stake stETH in the Morpheus contract (use above dashboard link)
You can withdraw that stETH any time after 7 days.
While it’s in the contract, the normal stETH yield from your stETH is given to the Morpheus network. [this is what you lose]
In return, you earn a pro-rata share of the MOR emissions on an ongoing basis. [this is what you gain]
MOR is a native Arbitrum token for cheaper txs, and the initial liquidity pool will be Uniswap on Arbitrum.
If you deposit 1 stETH and 9 other people each deposit 1 stETH each, you will get 10% of the MOR tokens for the duration that your stETH is staked.
During the first 90 days, MOR is not transferable. This means stakers will accumulate a MOR balance, but cannot withdraw it until 90 days. At the 90 day point, a liquidity pool for MOR/stETH will be created (on Arbitrum), a market price will be established, and the token will be transferable like normal. This was done to prevent absurd market price on day 1 when supply is negligible.
Morpheus gets the stETH yield while you do this. Half of it is traded into MOR, and then both halves are held forever as protocol owned liquidity. This will be providing a small continual source of demand for MOR, and a growing liquidity pool over time.