# Staking

<figure><img src="/files/zqVl41YZdjpVy8dVOmLn" alt="" width="563"><figcaption></figcaption></figure>

The Spacy smart contract is designed to streamline the deposit and withdrawal of $SPACY tokens into a hot wallet, thus enabling users to acquire xSPACY tokens within the virtual layer. When a user deposits $SPACY, they engage a vesting mechanism embedded in the smart contract. The amount of xSPACY received is directly proportional to the chosen vesting period: the longer the vesting, the more xSPACY the user will obtain in exchange.

It is crucial to understand that the withdrawal of $SPACY tokens is permissible only after the pre-set vesting period has elapsed. Holding xSPACY not only entitles one to a share in the platform's revenue sharing but also grants governance rights, allowing holders to partake in significant decisions regarding the platform's future.


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